Relationships are the Key to Success

Angela McDonald • 03/07/2018

The digital world has made every industry more competitive and differentiating yourself from your rivals is harder than ever. Thanks to the rapid rise of the internet, there are now countless companies offering the exact same product or service as you.

How do you stand out? One of the best ways to ensure success is to build strong and meaningful relationships with your customers, suppliers and any other key stakeholders. Not only will these relationships ensure a steady demand for your offerings, they also have the potential to increase the demand through positive word-of-mouth, testimonials and contacts.

Building and maintaining these relationships should be considered a vital part of your business strategy.

Don’t be faceless
Consumers nowadays are less trustworthy than ever, with a recent survey showing that only 33% of customer trust the brands they shop with. Taking the time to share your story, goals and mission, as well as connecting with your consumers, is hugely important.

Regardless of whether you are an established brand or a newly formed startup, building trust starts with showing you aren’t a faceless corporation. Focus on developing a real and meaningful connection with your customers, show them that the relationship is more than simply a financial transaction.

By showing that your business cares about their customers and community, you are more likely to build a loyal base. Which, at the end of the day, a loyal customer base is one of your best tools as you expand your brands reach and influence.

Start seeing everyone as a human
This should be rule number one, speak and interact with your customers as if you were talking to them face-to-face. If you want to build a strong and loyal bond with your key stakeholders, speak at them.

Whether you are speaking with existing customers or new, potential customers, one of the fastest ways to lose them is to be unauthentic or overly salesy. The best way to build a trusting and loyal relationship with your consumers is to be yourself. Every business has their own story and voice.

Don’t forget business relationships
For many businesses building a solid relationship with suppliers or partners is often an overlooked aspect of their business. When in reality, it should be a major focus, arguably just as important as your customers.

These relationships have the potential to affect every aspect of your business! For example, your suppliers have the ability to affect the availability of product, which could impact your relationship with consumers.

Additionally, business partners or contacts have the ability to open up new markets and relationships, which could help to expand your brand.

Like other relationships, your business needs to actively work on these relationships. So to keep these relationships positive and prosperous, ensure you do everything to maintain them. Be honest, show mutual benefit and above all else don’t be sneaky or conduct unethical business deals on the side.

The relationships your business holds will be one of the biggest factors behind the success of your brand. Relationships built on trust and respect have the ability to take your business to the next level. So actively work on them, don’t neglect them. If you do, you run the risk of suffering disastrous consequences.

A major reason why relationships are lost or solely based on transactions is that businesses do not have the resources to actively work on them. Don’t let this be the case. Consider, alternative business practices that will allow you to free up key resources so you can build strong and meaningful relationships.

Outsourcing tasks that impact your ability to foster these connections is one of these means. To discover how outsourcing with Deployed can help your business, contact us today.