What is more important to you as a Businessman? Short lived revenue stream or a long lasting customer partnership?
It is important that you ask yourself this question before you offer any advise to your client. Sometimes, the less profitable options turn out to be the ones that drive in revenues for the long term! In this post, Vishwas tells you why you must always put Customer Experience before Sales.
We had a strange situation with one of our customers.
Few years back, one of our newly acquired clients asked us for advice on upgrading their technology. After research, we gave them an alternate tech solution that would increase their productivity & profitability. Unfortunately, it had only one side effect. It would reduce our current billing with them by half!
I received a call from their CEO. ‘Vishwas, no other tech vendor would have advised on a path that would reduce their billing. I’m confused. What’s the catch here?’ I chuckled & replied
‘Firstly, we are not your vendor, we are your trusted partner. Second, a partner should always suggest the right thing to do, even if it reduces our billing in short term. We are with you for a long haul! If we help you succeed in your business, you will never leave us & we will eventually make more money.’ ‘That’s a guarantee!’ he said, thanking me. ‘We don’t do transactions. We build relationships,’ I concluded.
Our theory worked, we have eventually made 10x revenue from them till date. This was possible only because we didn’t go for a quick kill. That’s how we turned a potential revenue loss to a winning relationship that has withstood the test of time!
This is the way you do business, you build relationships!
Does this resonate with you? If you were in a situation to choose between sales and long standing customer relationship, which one would you choose? Tell us in the comments section below.