Relationship Marketing, What Goes Around Comes Around
By Carole Nicolaides
Posted Monday, August 23, 2004
Old sayings provide us with so much wisdom and information. Do you remember the one that says, “What goes around comes around”? Nowhere is that more true than in building long-lasting relationships with your customers. It is a long-term process and - if it is done correctly - it pays off handsomely. So what exactly am I referring to? I’m talking about the “reciprocity effect”… giving to your customers initially and then receiving more at the end.
The first principle of the reciprocity effect is to give unconditionally. If you expect too much in return, and give only in order to receive, you are most likely going to fail. You will simply be characterized as a needy sales person who is eager to close a sale.
Always think of your customers and how you can help them, even if you are not working directly on their project. By keeping them in the back of your mind as opportunities come your way, you can forward bits and pieces of information they might find helpful. They will certainly appreciate your gesture and will value your relationship.
Always find ways of warming the relationship. Make sure that your customers know you care about their business. Be sure they know you are a valuable resource they can depend on. This kind of strategy is not a one-time shot, rather a long-term process that demands constant attention.
The reciprocity effect works equally well for small businesses and large businesses. There’s no need to feel frustrated if your company is not as big or well known as some others. Focus all your attention on being well known to your existing customers. Deliver an excellent service and go above and beyond the call of duty. This is a superb way to distinguish yourself from your competitors. The word of mouth advertising you receive will bring in more business!
The suggestions below will help you operate in a service-oriented environment and assist you in taking advantage of the reciprocity effect.
1. Customize and personalize everything you offer. Let your clients know how special they are by personalizing letters and emails. Take note of what your clients say, what they like, dislike, love or hate. Surprise them with simple gifts. Some people just need someone to listen… this certainly won’t jeopardize your marketing budget or operating capital. Usually the things that really leave an impression are very inexpensive anyway. Become creative with this process and enjoy it.
2. Share information that is important to their business. For example, as you visit a trade show or browse a magazine, look for articles and events that can be beneficial to your client’s business. Become valuable to them by being a great resource. This not only surprises them but also creates credibility and trust. They will see how much you value them, and will also see that you care about them as a friend.
3. Respond promptly - especially to emails - This is one area often overlooked and I honestly do not know why. Many times if you fill out a form online it takes forever to actually get a response from the vendor. What impression does this give you about the business? Responding quickly to emails is a sure sign that you’re attentive to your customer’s needs.
4. Don’t forget the power of handwriting - Even though most businesses operate at a very high tech pace- hand written notes still are an excellent way of keeping in touch with your customers. It also shows that you’ve taken a few extra minutes to think of them.
5. Keep your eyes open as you search the (WWW.) You probably spend many hours surfing the World Wide Web for new ideas to use in your own business. As you go through the various sites, keep your customers in mind. If you see something that may be of interest to them – forward it along. Always watch for business related items, but also look for personal things that they may enjoy. The more you know them the better you will work with them.
6. Inform your existing client base about new services - When adding new products and services, make sure you email or write your existing client base. This will keep them up to date with your business and also keep the relationship warm. It even gives them another reason to mention your name when talking with their associates! Sometimes this will spark the memory of a customer you haven’t heard from in awhile… they could call you to have some work done.
7. Maintain an E-Zine- Keep every contact that you have in your E-Zine database. If you serve different markets, go the extra mile and create several E-Zine lists all targeted to customers within the same market. Your E-Zine will keep your customers abreast and well informed about your offerings. This in turn establishes credibility and trust. You will soon become someone they consider as an expert and guru… and this is exactly what you need. You can become famous for your excellent service and knowledge.
Do more than you are getting paid to do. Going the extra mile and doing the unexpected will bring many rewards and increased profits. Build relationships with your clients, add value to their business and remind yourself that it is a privilege to help someone else grow.
About the Author
Carole Nicolaides is President of Intentional Success Coaching offering Personal Success Coaching, Marketing, Business Planning and Internet Success Consulting to small businesses & large organizations. Subscribe to Carole’s FREE EZine at newsletter@intentionalsuccess.com or visit her at (http://www.intentionalsuccess.com) to book your FREE coaching session.
