Relationship Management: What Does it Involve?

Definition and explanation

Relationship management in business involves building and maintaining positive relationships with customers, vendors, and other stakeholders in order to promote loyalty, satisfaction, and retention. This process includes engaging in effective communication, providing exceptional customer service, identifying and resolving concerns or issues, and seeking feedback to continually improve. Relationship management also involves developing and implementing strategies to enhance the overall customer experience and foster long-term success.

Why it matters in sales

In the cutthroat world of sales, relationship management is the lifeblood that keeps the organization running smoothly. It's not enough to simply make a sale and move on, because customers are savvier than ever and will not tolerate subpar service. A sales organization that neglects relationship management is like a fish out of water. Just as a fish needs water to survive, a sales organization needs relationships to thrive. It's time to dive in and swim with the sharks, because without relationship management, a sales organization will end up as chum.

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