Building Strategic Relationships
By Shasta N. Broadus
CEO & Founder of Connect The Dots, Client Reltionship Manager w/ Ameriprise Wealth Mangament Firm
In this day in age as social media continues to be the biggest medium for connecting with others, it is important to build strategic relationships, especially as an entrepreneur growing a business. It is the only way any beginning entrepreneur will sustain in the long haul. Strategic relationships to entrepreneurs and business owners alike is what peanut butter is to jelly – a must have. Without creating and building strategic relationships you will continue to lack traction and connections in your business and wonder why it is taking you so long to produce results. When building these types of relationships, there are a few things you must do to begin. According to 7 relationship building strategies for your business, Gordon, K. T. (2004, January 04), Successful businesses don’t just communicate with prospects and customers for special sales. Today, making your company indispensable is a vital key to marketing success. It’s a terrific way to add value and enhance your brand and position against your competition. Applying this approach to your business can change your clients’ response from “who are they”, to “I’m glad they’re here”. Here are a few things to consider when building a strategic relationship:
Communication is key in any relationship, but maintaining constant contact regardless of sales or promotion is the best way to go. Try to mix in newsletters and other types of correspondences to build visibility and awareness of your brand.
Getting in the trenches is another sure fire way to go above and beyond. Showing that you, the head of your organization can get in and go outside of the standard sales and marketing techniques to build solid relationships with your prospect is definitely a good opportunity to show your staff and customers that you understand their challenges and have no qualms about getting in and interfacing to produce results.
Hosting events is a great way to get face to face interaction with your customer. It gives you an opportunity to interact and highlight new products and or services.
Lastly, asking for feedback regarding your company is a great way to open dialogue between you and your customer. Customers love giving suggestions on how you can improve or what they liked about your product and or service. Providing a survey or a way to give feedback is always a great way to open two way communication and show sincerity when doing business.
These are just a few ways to begin building strategic relationships. Connect the Dots, is an organization based in Phoenix AZ, has successfully launched their business model using the above strategies. Connect the Dots is a marketing and business development agency geared towards tenured entrepreneurs and aspiring entrepreneurs who are interested in getting connected and providing mentorship to scale their business to the next level. At Connect the Dots, customer service is imperative due to the fact that your first interaction with someone can make or break a relationship. Communication and follow up with prospects is a staple in the Connect the Dots business model; as building strategic relationships are key to any successful business structure. Most businesses that have shown a track record for success have created strategic relationships. An example of successfully creating strategic relationships in the business world would be how certain hospitals have partnered with the Ronald McDonald foundation to give back to ill children, creating a reciprocal benefit for both organizations. It’s strategic because the hospital has children who are sick or disabled and the Ronald Mc Donald foundation gives back to sick and disabled kids through grants, fundraising and donations. With strategic relationships there are more opportunities for situations in which all parties can benefit and prosper. Collaborating and creating partnerships is where true business thrives. Through strategic relationships and building solid partnerships, entrepreneurs pave the way for innovation and provide opportunities to show team work makes the dream work.
Reference:
Gordon, K. T. (2004, January 04). 7 Relationship-Building Strategies for Your Business. Retrieved March 01, 2018, from https://www.entrepreneur.com/article/66228