Episode 34: The 3 Types Of Relationship Currencies You Need To Win At Sales

The 3️⃣ Types Of Relationship Currencies You Need To Win At Sales

Welcome to the world of sales, where building and maintaining relationships is key to success. Whether you're selling a product, a service, or even an idea, understanding the different types of relationship currencies can greatly impact your ability to close deals and win over clients. In this blog post, we'll explore the three essential types of relationship currencies you need to master in order to excel in sales.

1. Trust

Trust is the foundation of any successful relationship, and it's especially crucial in sales. Building trust with your clients and prospects is essential for winning their business. Without trust, it's nearly impossible to persuade someone to buy from you.

How to Build Trust:

Be Transparent: Honesty and openness go a long way in building trust. Be clear about what you can offer, and don't overpromise.

Show Consistency: Consistency in your actions and communication will reassure your clients that they can rely on you.

Deliver Results: Nothing builds trust more than delivering on your promises. Focus on providing value and exceeding expectations.

2. Empathy

Empathy is the ability to understand and share the feelings of others. In sales, being able to empathize with your clients and prospects can significantly improve your ability to connect with them on a deeper level.

How to Practice Empathy:

Listen Actively: Pay attention to your clients' needs and concerns, and show genuine interest in understanding their perspectives.

Put Yourself in Their Shoes: Try to see things from your clients' point of view. What are their challenges, goals, and aspirations?

Offer Solutions: Use your understanding of your clients' needs to offer personalized solutions that address their specific pain points.

3. Collaboration

Sales is not just about convincing someone to buy from you; it's also about building mutually beneficial relationships. Collaboration is the key to creating lasting partnerships with your clients.

How to Foster Collaboration:

Communicate Clearly: Clearly define the shared objectives and be transparent about the roles and responsibilities of both parties.

Be Flexible: Show willingness to adapt and accommodate your clients' needs and preferences.

Celebrate Success Together: Acknowledge and celebrate your joint achievements to reinforce the spirit of collaboration.

To summarize, mastering the three types of relationship currencies – trust, empathy, and collaboration – is essential for winning at sales. By focusing on building trust, practicing empathy, and fostering collaboration, you'll be better equipped to connect with your clients, understand their needs, and ultimately close more deals. Remember, sales is not just about transactions; it's about creating meaningful and lasting connections with the people you serve. So go ahead, hone these relationship currencies, and watch your sales soar!

If you listened to an earlier episode where I discussed my sales trend predictions for 2020 and beyond, this is a great episode for you because it takes it to the next level to help you identify how do you keep growing those personal relationships, what does that look like, who should they be with and how do you ensure that you are focusing on the right types of activities for each type of person.

Biggest Takeaways:

Too often we overlook the opportunity to connect when we’re having conversations with individuals, we simply think they’re not important enough because they’re not a potential client. By doing that, we’re diminishing the value that they could bring to the table for us because we’re desperately looking for clients.
The three relationship currencies – clients, collaborators and connectors, are all important. Our collaborators and connectors can indirectly and directly lead us to more clients.
In these relationship currencies, you are in charge of how much goes in and how much gets taken out. There needs to be kind of a reciprocal back and forth because you can’t have too much going and not enough coming out or vice versa.

Quotables:

There is no shortage of clients out there in the world for you to be able to tap into. [Tweet This]
Your whole thing is to find as many people that you can serve every single day, at least one person. [Tweet This]
Collaborate and partner with complimentary businesses to create more bandwidth, more expertise and more value for both your audiences. [Tweet This]

Highlights:

Why relationships are like money in the bank [01:29]
What happens when you only see everyone as a potential customer [03:19]
There is no competition, only other people you can collaborate with. When you collaborate, you are able to sell in a way where you wouldn’t be able to do individually. [07:05]
Why partnering with complimentary businesses allows you to reach out to many more people [10:18]
How to ensure that your collaboration agreement fairly benefits both you and the person/business you are collaborating with [11:07]
There are people out there who love to connect people and why it is ok to ask them to connect you with people who need what you have to offer [13:29]

Bonus Resource:

5 Steps To Growing Your Abundant Sales Mindset – How to connect authentically with your audience so you can finally sell with more ease and less sleaze. Grab your free copy now.

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