Building a Career in Sales #3 | Building Relationships 'versus' closing deals

In the world of sales, the phrase 'closing a deal' offers the biggest high and for good reason, but is that all there is to the art of selling? Oh no, not at all, for there is the other term that older and wiser sales people talk about to younger and eager sales people, 'building relationships.'?

When I asked Maruthi what his biggest learning from his nine years in sales was, he responded with 'building relationships.' ?

The relationship between 'closing a deal' and 'building a relationship' is an interesting one. If you are too focussed on the former you hurt your chances of the latter, but meeting targets of a week or a month or indeed a quarter may still push you towards attempted closing. If you are focussed on building a relationship it will eventually create value, but you may miss a particular period's target. ?

Maruthi has cultivated a base of over 70 loyal customers, who turn to him when it comes to buying gadgets.?

"Hasn't e-commerce made things difficult for you? Do customers still come to your store?" I asked him.?

"Actually, I have a waitlist of 30 people for the launch of the new iPhone 15. If you want to be one of the first people to get your hands on the latest phone, I am genuinely the best bet," he replied with a deep sense of satisfaction. He was also speaking just after achieving his targets for the 7th month in a row, so the satisfaction seemed richly deserved. ?

How did building relationships help Maruthi achieve targets consistently? ?

People are often hesitant about switching to a new phone. The fear of data loss is a big issue. However, having a trusted salesperson like Maruthi at the XYZ store can put their mind at ease.?

One of Maruthi's regular customers, Ruben, wanted to sell his old phone and upgrade to a new one. He was only getting 4500 rupees for it. He walked up to Maruthi and left the store with 6500 rupees is in his pocket (from the exchange offer) and a pair of Air-pods! Ruben has since brought Maruthi 14 more customers who are now valuable and regular.?

Word of mouth, indeed, is the most reliable way relationships lead to revenue.?

Having a salesperson who remembers preferences and offers tailored advice and product suggestions creates trust. The customer feels confident asking about features and offers, leading to richer conversations which, in turn, lead to greater customer satisfaction. ?

There is no real competition between closing deals and relationship building. Realising this is in fact an early milestone in the journey towards excellence in sales.