It is not enough anymore to only have the right products and services; you must also build relationships with a range of people to succeed, not only your clients or customers but also investors, peers, employees and suppliers. Whether you are a product based or service based business and whoever you are selling to, ultimately you will be dealing with a person.
Remember, no amount of money can make someone like you and so you must do some ‘relationship marketing’ to help people get to know you better. If you invest time and focus on building the right business relationships, the sales and referrals are sure to follow.
Reduce marketing costs
If the number of referrals you are getting increases, you may have to spend less money on marketing. This is also true if you can collaborate and share costs with another business. Not only can you half your outgoings, but you can also increase capacity and visibility.
Help you to build ambassadors
Who will advocate your business to their network, which could result in referrals. Referrals from another brand or business come highly regarded, and word of mouth referrals still count for a lot and contribute to business success.
Create collaboration opportunities
Helping you to reach new audiences. Also, when people see your business partner with another business or influencer, it provides your clients and prospects with the proof that someone else believes in your business. Influencers are already respected within their industry, and so their customers trust their opinion.