“In the Relationship Economy, the primary currency is made up of the connections and trust among customers, employees, and vendors who create significantly more value in what we sell. These relationships and connections help make price irrelevant. It is about building a culture that recognizes the importance of each individual and of making everyone a part of a community that is working toward something bigger — a community that makes them feel cared for.”
What your sales team needs to know about the relationship economy and new sales prospecting best practices
“The Relationship Economy is how strongly you feel about the people and businesses in your life. Relationships are the biggest differentiator in customer and brand loyalty. Relationships are at the center of all we do.”
Not long ago, things like price, convenience and savings would drive customer preferences. But as we’ve moved towards the relationship economy and new sales prospecting best practices, consumers are increasingly prioritizing customer service, brand loyalty and personalization.
Sales reps need to know how to prospect with these values in mind so they can build strong relationships and rapport with potential clients.
Beyond happy customers, positive customer relationships can create ripple effect benefits, including improved cash flow, business growth, and overall brand trust and credibility. And thanks to things like increased connectivity through social media and improved customer data, there has been a shift away from the traditional consumer economy. Companies that have a system to tailor and personalize their customer experiences are more likely to win customers and retain their business.
In the relationship economy, consumers narrow their options by considering which business cares about them as a customer—and which businesses will deliver the best experience. Customers may also choose to do business with companies and brands that most closely align with their personal values.
In this eBook you will learn:
- What the relationship economy is and how it impacts business growth
- How to improve your team’s sales prospecting skills
- What kinds of traditional prospecting are still relevant
- Sales prospecting best practices
At Liquid Capital, we’re business owners, too, so we understand the challenges and pressures you face on a day-to-day basis. And we also realize the importance of evolving your organization amidst changes in the business world.
While we’re dedicated to helping our clients out with their financing needs, there is more to business than just the numbers. We get to know you (or your client’s) organization and business opportunities, so we can maximize our partnership. Your Liquid Capital Principal is here to help you answer questions and support you as your business grows. For helpful business and alternative financing advice, reach out to a Liquid Capital Principal today.