Strengthening Relationship with Clients

Every business that is set up in this world aims to cater to the needs of certain client segment. Hence, it would not be an exaggeration to say that there would be no business without clients. A business always runs on the basis of repeat orders, which come from satisfied clients. Hence, it is very important to have a healthy relationship with your clients for your business to thrive and flourish. Strengthening relationship with clients is imperative in this competitive world to retain your clientele. We have shared some tips on how to strengthen the bond with your customers.

Know Your Client  

The first and the foremost thing when you sign a contract with a client is to get to know them better. Try to find out as many details about the concerned individual or organization as possible. Study their business partners, competitors to know exactly what type of deliverables they expect.

Commit What You Can Deliver

It is possible to get carried away and commit deliverables that are beyond your capabilities. This can result in failure and eventually strained relationship with the client. Hence, be realistic and commit only those things which you are assured of fulfilling. 

Exceed Expectations

Clients hate vendors who underperform. On the contrary, they have a very positive impression about vendors who exceed their expectations. If you go beyond the scope of work and deliver something extra, your client will be more than happy to place a repeat order. 

Stay Focused   

As you go on building relationships with your clients, it is possible to get involved in their business on a more personal level. However, you must know where to draw the line, as too much passion can ruin the relationship with your client. Hence, stay highly focused on your goals and consistently deliver on the points that are mutually agreed

Be Firm

A customer may not be always right. So, there is no point in being ever accepting to their views and demands that can be damaging for both you and them in near future. Be firm and take a stand wherever required. However, be polite while doing so. Most generally, in long run the clients respect the vendors who are candid in their approach.

Know Your Client's Worth

This is the most important of all points. It makes sense to invest in a relationship only if it is worth it. Check how working with a particular client will add value to your business image or bring more business to you. It is also important to know whether such client is serious about investing in your products. Accepting unviable pricing and other business terms can be detrimental in long run. Hence if you notice these symptoms it would be appropriate to walk away from such deals/relationships.

Performance is a key aspect that decides your relationship with a client. There is no alternative to quality of service when it comes to forging bonds with clientele. 

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Sinkholes/Doline in Your Strategy

Strategy is the backbone of any organization. It can be compared with a ship's rudder. One can imagine the state of the ship that tries to sail without a rudder. Similarly, it is impossible for an organization to keep functioning effectively without a proper strategy in place. Oftentimes, top officials of organizations confuse strategy with mission, vision or even goals of an organization. One must understand that strategy in itself is not an achievable goal or objective, instead, it is a means to achieve your goals. In short, it is a roadmap to your organization's success. Thus, having an effective strategy is a must for every organization. Sinkholes in your strategy must be identified and rectified on time.    

The real question is how you can identify whether your strategy is foolproof or not? Business strategy consultants usually begin by answering these two critical questions.  

• What are the distinct strengths of your organization which give you an edge over your competitors? 
• What are the chances that these strengths will become obsolete in near future? 

When you answer the first question you become aware about the capabilities of your organization. Next, check if your existing strategy makes utilization of these distinct capabilities to their utmost potential. If not, you have got a problem with your strategy. 

The second question is far more critical and has a huge impact on the future of your organization. So many iconic businesses that were at their peak had to bite dust, just because their USPs became obsolete after a while, and they did not have a backup plan to cope with the changing market demands. There are so many examples to illustrate this fact, the latest being that of smart phones. Some giant handset manufacturing companies either had to lose business to android phones or had to come up with their own smart phones. Similarly, many printing related businesses could not cope with the digital revolution. 

Thus, it is imperative to build your business on technologies that are either time-proof or can be molded to meet the market demands in future. If not, then this sinkhole can become bigger enough to swallow your entire business.