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Презентация темы Building relationships

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Building relationships

Being able to establish & develop relationships is very crucial for people and for companies. Living at society, people organize communities, build intimate social networks and essentially enjoy with relations. People can’t live without another people. But situation with companies is more sophisticated, because companies should build up and keep stable relations inside (between employees, stuff, etc) and outside (suppliers, intermediaries, customers, competitors, etc).

There are, for example, lots of suppliers and they are ready to provide anything you want. Excellent relations with them can lower costs, but this is not extremely important for company’s existence. A number of customers is more important. A firm doesn’t want to become a bankrupt and it takes care of demand, of customer’s number.

First of all, firms attract new customers. After firms should retain them, but they don’t do it at most cases and lose thousand dollars of potential revenue (unsatisfied customers can share unpleasant experience with another and they won’t buy company’s products or services any more). If company makes customer loyal, customer becomes useful. Loyal customers may provide free word-of-mouth advertising and referrals, they become less price-sensitive and they can persuade others to become customers (being advocate). I’ve pointed advantages of making customers loyal and I don’t understand why companies skip it. As for me, I feel myself loyal just to Coca-Cola Company, but this is a result of my lifestyle, not of any coke’s campaigns.

There is a second problem. Building relationships is different at different cultures. Somewhere people need to shake hands and hug and somewhere people make deals using networking and somewhere transparency is very important and so on. For example, in America: a door of boss’s room should be open when boss is inside, and if you even have an intimate question, you can’t close the door & it’s different in Russia.

But for successful business relations you always should be trustful and “always ready” at every country.