The strength of a business's relationships can have a profound impact on its overall health. From a practical standpoint solid relationships allow companies to create new revenue streams as well as establish communication protocols and expedite planning projects and policymaking. From a financial point of view, poor business relationships can result in unhappy customers, negative reputations and a decrease in growth potential. It takes perseverance and focus on detail to build good business relationships. While it can be tempting to ignore follow-ups when you are in the initial negotiation or sales phase, companies which are successful understand that they must focus on persuasive follow ups to maintain and build their relationships.
It doesn't matter if you're a prospective client, an existing partner or an acquaintance new to you, everyone deserves the same level of respect and reliability. Reliability is essential when it comes to establishing long-term relationships, because one small mistake could be enough to ruin a relationship. Think about the last time you were disappointed by someone who pulled off of an agreement or changed plans in the in the last minute, or even cancelled a meeting. You'll probably remember that incident as a bad one even though there could have been legitimate reasons for the person's actions.
In order to establish long-term relationships, it is important to prioritize education and provide consultation services to those you're in contact with. Implementing a strategy to distribute customer surveys, create and distribute relevant thought leadership content, and frequently communicate with business partners to discuss the things you could do better can go a long way in demonstrating that you're invested in your relationships beyond simply making money off of them. It's equally important to ask for feedback and incorporate it since people want to know that you're willing to listen to them and take their suggestions seriously.
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