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In the pursuit of the bottom line, businesses forget that their consumers are real people; they aren’t just a demographic, brand affiliation, customer profile, or any other category. A business should keep in mind that their products or services aren’t just a way of increasing the bottom line, it is about solving real problems that consumers have.

It is important that you keep in mind the reason that your business keeps running is because your consumers choose your offerings. The reason that they choose your product and not your competitors’ can be really small, which is why building loyalty through a good relationship is so important. Always keep in mind that you’re doing business with people.

How do businesses relate to people?

It is important for you to understand that more than your clever business tactics, your customers drive your business’ success. For this reason, you should understand how you should be doing business with people. Below are a few ways that your business can relate to the people it’s doing business with.

  • Your customer base is made up of individuals, and as such, you should customize your responses accordingly. Doing things like switching up your responses to veteran users can go a long way to making them feel appreciated.
  • For a business, going above and beyond for your key customers, responding to their concerns, especially when consumers come across a problem with your offerings, makes your business and its offerings relatable to them.
  • A recent survey found that consumers who connect with brands on social media are loyal customers, with about 90% saying they buy from the businesses that they are subscribed to. In the same survey, 61% of consumers say that engagement is the most important characteristic of a business. It’s no surprise that interacting with your customers in a meaningful way relates the business to the people.
  • Technology has been great for instant connection, feedback, and reach, but, even if you’re using the platforms’ instant messaging, sometimes customers want face-to-face interaction. Doing things like holding small events, either online or in real life, and having one-on-one calls with customers, can go a long way.
  • Show your appreciation to your customers, and always survey them. This will give you an insight into how your business can do better business with people, improve your offerings, and most importantly increase your standing with the people who consume your goods and services.

Focusing on building strong business relationships

Just like how the trust you place in someone in your personal life depends on the relationship you have with them, the same can be said of your business and its offerings. A study by the Hinge Research Institute has found that customer loyalty, satisfaction, and referrals are in a downward spiral. 

In today’s world where there are many businesses offering similar products and services, it is that much more important that you foster and maintain your relationships with your key consumers. 

This is especially important when you consider the fact that the cost of acquiring customers has increased by 50% over the last 6 years. Not only that, your customers have a 50% chance of being interested in your new product, as opposed to a 31% chance of a new customer.

Focusing on building rapport with your customers, and keeping in mind that you’re doing business with people ensures that you increase your customers’ lifetime value and turn them into your brand’s advocate, which ensures the long-term success of your business.

How can businesses build relationships with customers?

As you’re doing business with people, focusing on building strong relationships with your customers is important to your business. Below are a few steps you can take to build trust and loyalty.

  • Frequently reach out to your key consumers: The bigger your business gets, it becomes more difficult to communicate with all your customers. But you can always keep track of your key customers, and express your interest in how your business’ offerings are working for them.
  • Be genuine, not opportunistic: If the only time you communicate with your consumers is when you have a new release, it’s not going to seem genuine. You need to spend time figuring out how you’re going to create value for your customers.
  • Request feedback: Don’t assume how your consumers feel about your business’ offerings. Asking your customers how they feel about your business can give you insight into how your business can do better. Remember you’re doing business with people who each have their own opinions, likes, and habits.
  • Don’t just focus on key customers: If you’re trying to grow your business, you also need to figure out customers who aren’t heavy consumers of your business’ offerings. A few things you can do is send out content that is educational, that is, content that explains how your offerings work, price, features, and so on. Another great way to gain attention is to send out offers, such as 10% off your first purchase.
  • Don’t sell, educate: This might seem counterintuitive but consumers hate businesses pushing products onto them. Educate how your offerings will benefit them and customers will come to you.

Remember that people do business with people

People ultimately choose to do business with businesses that they think appreciate them, have a personality they like, and give back the value that was created for them. You’re doing business with people who have individual personalities, so when they feel that you appreciate them, you’ll be able to build stronger relationships, your consumer base will grow wider, and your business will be able to continue in the long run.

Learn more about this topic in a real time conversation with an expert. Select a time below.

Doing simple things such as showing your appreciation to the people that contributed to your success, taking initiative and asking your consumers what they think about your offerings and asking if they need help with anything, trying to solve their problems with the offerings, can go a long way to set up your business for the long-run.

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