Forming Lasting Relationships with Buyers

Much of this information is based on the marketing theory and research of C. B. Bhattacharya, of Emory University; and Ruth N. Bolton of the University of Maryland. 3 Necessary Conditions for Buyer Relations Any relationship forms only when there are benefits to both parties. For the seller, benefits include the cost savings of retention, immunity from competition, and ease of up-selling. For the buyer, benefits include lower risk, cost savings in the form of special pricing, and time-savings. Following are 3 requirements for a buyer-seller relationship. 1. Personalization. For relationships to develop, personalization must be possible within the product category. This personalization can b

How to Sell with Facts

Because the facts are on your side, you don’t need to spend hours strategizing the best way to sell your products and services. Instead, spend that time gathering information from all of the credible sources you can find. Even the biggest organizations – at their peril - neglect to do this. Consider the egg. Remember when every time you ate an egg you felt like you were taking your life in your hands? That was last year – the culmination of 50 years of negative media attention resulting from a single study on dried egg yolks funded by the Cereal Institute of America. The study concluded that eggs were a heart attack in a shell. None of this is very remarkable except that the United Egg Prod

How to Repair Client Relationships

No matter how hard you try, there will always be clients that have legitimate (and not so legitimate) complaints that damage your relationship. Following are 4 steps for repairing the relationships that you truly value. 1. Listen and Apologize Start by asking a simple open-ended question, such as “How can I help you?” and then listen without interrupting. Once the client is finished, it’s time for a sincere apology. Remember that until the client has finished their story, any apology that you give will sound insincere. A disingenuous apology will only make the situation worse. Experts say that if you can’t offer a genuine apology, it’s better not to apologize at all. On the other hand, don’

Quick Presentation Tips: The formula for making people listen

What you’re going to read here are presentation tips you’ve probably never seen before. In essence, you’re going to learn the formula for making people listen. Yes, there is one and yes, it does work. Try it one time and you’ll see. Here are five messages (based on the advice of speaker extraordinaire Ed Wohlmuth) you need to convey to listeners in order to get their rapt attention. 1. I will not waste your time. Within the first few seconds of the presentation, you need to let everyone know about how long you’ll be speaking and what’s so interesting about the topic. Don’t make any promises you can’t keep. 2. I know what you know and I know more than that. Let everyone know - that you know

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