Skip to content

Maintaining Business Relationships

One way to advance the progression of a business is by developing and nurturing relationships. Although some relationships can be easy to establish, others might require more time and effort. Business relationships vary and include those that you can have with clients, suppliers, buyers, media and even competitors. Focusing on creating and maintaining business relationships means that you would be open to new opportunities. We sat down with David Pace, Business Development Consultant at MYC to discuss ways to maintain business relationships.

Deliver value

In order for a business relationship to be maintained and even thrive, there needs to be some form of mutual value. If we are discussing relationships with customers, a quality service that is reflective of the fee being paid needs to be delivered to maintain the close rapport. Putting in the extra effort is more likely to safeguard the relationship for the future. 

Following up

Good relationships are maintained by keeping regular communication. Following up with clients and contacts shows them that you care enough to check if all is in order. There are different ways how you can check in with clients and these include sending an email or text message and calling. This follow-up would serve as a good opportunity to get to know about the latest updates, accomplishments and projects. Expressing your interest in these events can help to strengthen the relationship.

Discuss business goals

Being in the sphere of business, clients and contacts are likely to have their own objectives. Learning more about these can bring about ideas for future collaboration surrounding different projects. Apart from the opportunities of engaging in further business, one would get insights as to how certain issues or problems are being addressed and resolved.

Authenticity

People can sense when something is fake and lacks truthfulness or honesty. Whilst one does need to maintain a certain degree of professionalism with clients and contacts, being yourself goes a long way in developing relationships. This can be done by connecting with people, showing them what you are passionate about and to some extent, adopting a sense of humour. In today’s business world, showing that you are human too can promote better relationships, deepening connections and growing possibilities.

Gather feedback

We tend to find comfort with those who agree with us. Growth is however achieved when you are challenged, and being provided with constructive feedback. People outside your organisation are more likely to provide you with an unbiased perspective which can be used to deliver a better service or product range. Inviting feedback from clients in particular might lead to insights, which in turn give you a competitive edge. Most can provide feedback including clients, employees, colleagues and suppliers.

Show appreciation

In today’s business world, appreciation can be hard to come by. Acts of gratitude can go a long way to keep a relationship thriving. There are different ways this can be done. Sometimes a call just to express thanks can be enough. Special occasions such as a milestone anniversary can serve as the right opportunity to thank existing clients, colleagues and other business contacts.

Provide praise and encouragement

Everyone enjoys recognition every now and again. Maintaining good relationships means that you will need to acknowledge the successes and accomplishments of your clients, contacts and employees. If you have noticed a successful outcome being communicated on social media, do engage by leaving a comment or a Like. You can also opt to send a direct message to your contacts, congratulating them on their recent successes.

Business relationships are key drivers for opportunities and growth. Managing them well can only expand your horizons.

Featured posts