Relationship Partnering Selling
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Transcript of Relationship Partnering Selling
Building Partnering RelationshipsRelationships and Selling
• Relationship marketing– reflects companies’ attempts to develop stronger
relationships with their customers
• Customer lifetime value (CLV)– the combined total of all
future sales
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Relationships and Selling
• Behavioral loyalty – refers to the purchase
of the same product from the same vendor over time (“automatic”).
• Attitudinal loyalty – an emotional
attachment to a brand, company or salesperson.
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Market Exchanges-Two Types
• Solo exchanges– No assurance of any future business– Both parties focus on their own self interest
• Functional relationships– Long-term market exchanges– Behavior loyalty– Previous purchase definitely influences next
purchase
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Partnerships-Two Types
• Relational partnerships– Buyer and seller have a
close personal relationship
– Buyer and seller work together to solve problems
– Trust
• Strategic partnerships– Long-term
relationships– Make significant
investments to improve the profitability of both parties = $$$!
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Types of Relationships between Buyers and Sellers
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Exhibit 13.2
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Selling in Market Exchanges and Long-Term Relationships
• Making contact• Closing the sale• Following through• Initiating the relationship• Developing the relationship• Enhancing the relationship
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“They” Choose the Right Relationship!!
• One MAJOR factor that influences a salesperson’s success is the type of relationship the customer desires
• Other factors are size of the account, access and image in the market, and access to technology.
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Phases of Relationship Development & Maintenance
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Foundations ofSuccessful & Lasting Relationships
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Exhibit 13.4
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Elements of Mutual Trust
• Dependability– Buyer’s perception
that the salesperson and the product and company s/he represents will live up to promises made
• Competence– Demonstrated
knowledge of the customer, the product, the industry and the competition
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Elements of Mutual Trust
• Customer orientation– Degree to which salesperson puts customer
needs first
• Honesty– Truthfulness, sincerity, being candid
• Likeability– Behaving in a friendly manner and finding a
common ground between buyer and seller
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Open Communication
• More building block for building successful relationships:
• Listen, listen, listen!!• Salespeople should encourage buyers to
speak up• Be aware of cultural differences
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Common Goals
• Partners should focus on maximizing opportunities rather than arguing about who will benefit the most from the relationship
• Helps sustain the partnership• Measurable goals are critical
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Characteristics of Successful Partnerships
• Commitment to mutual gain– Mutual investment
• Organizational support– Structure and culture– Training– Rewards
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Stages of Partnerships
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Exhibit 14.1-VERY IMPORTANT!!
Copyright © 2011 The McGraw-Hill Companies, Inc. All rights reserved
CRM Strategies
Customer Acquisition• Gain the greatest number of new “Best” customers as early in their
“lifespan” as possible.Customer Retention• Retain and expand your business and relationships with your
customers through up-selling, cross-selling and servicing.Customer Loyalty• Offer programs to ensure that your customers happily buy what you
offer only from you.Customer Evangelism
Enable loyal customers to become a volunteer sales force.Cost Reduction• Reduce costs related to marketing, sales, customer service and
support.Improve ProductivityEnhance your e-business strategies.