When you and your team consistently create meaningful relationships with clients, it can lead to long-term business growth.
With 92% of consumers worldwide stating that they trust recommendations from friends and family above all other forms of advertising, your current clients are an important lead generation source. Especially with the evolution of the relationship economy.
Here are four ways that your happy clients can contribute to your long-term business growth and success in the relationship economy:
1. Word of mouth marketing
According to a Statista report, nearly 19% of purchase decisions for financial services were impacted by word-of-mouth marketing. By having great relationships with your clients (and other business contacts), you’re more likely to benefit from word-of-mouth marketing and attract new business.
2. Brand loyalty
Brand loyalty is driven by dependability, quality and excellent client experience. If you master these, you’ll enjoy the benefits of seeing higher lifetime value, which can lead to long-term business growth.
3. Referrals and access to new networks
When you create a great impression in someone’s network, they may introduce you to new potential leads and prospects. Having strong, mutually-beneficial relationships can help accelerate rapport and shorten the sales cycle – making it faster to connect with new prospects and increase sales.
4. Testimonials and case studies
Building strong client relationships mean they’ll be more likely to volunteer to share a positive review or testimonial. You can also follow up to interview them for a case study. These kinds of social proof can help you attract additional prospects and support business growth.
“84% of people trust online reviews as much as a personal recommendation.”
Enjoy the benefits of boosting your reputation
With 84% of people trusting online reviews as much as their friends, providing a great experience at every step along your buyer’s journey can boost your reputation and attract new clients to your business.
Remember, your current clients are your best cheerleaders, they can help generate sales and reduce the amount of time, money and effort it takes to generate new ones.