Relationship Management Flashcards
What is the aim of business networking?
To recognise, develop and act upon a business opportunity
Who can recruiters connect with through networking?
Candidates
Sector specific groups and organisations
Competitors
Decision makers
Technical experts
Suppliers
What benefits can be gained through networking?
Develop relationships with new and existing contacts
Low cost marketing opportunities
Development of personal and company brand
Recommendations and referrals
Reach decision makers
Establish joint venture opportunities
Demonstrate expertise
What are different types of networking activities?
Breakfast meetings
Chambers of Commerce meetings
Sector specific conference
Professional body branch events
Exhibitions
Job fairs
Online
Open days
Sponsorship
Internal networks
What’s a definition of personal brand?
Process by which individuals differentiate themselves by identifying and communicating their unique value proposition
What are elements of personal brand?
Value proposition - what do you stand for?
Differentiation - what makes you stand out?
Marketability - what makes you compelling?
Measurement - how do you evaluate success?
What measures can be used to evaluate personal branding success?
Testimonials
Likes
Comments
Recommendations
Endorsements
Satisfaction statements
Rebates
Complaint numbers
Requests for advice
Quantitative metrics
Define nature of consultative relationships
Consultative relationships align the sales process to the buying process giving the client best buying experience possible. The seller partners with their client and offers expert advice, information and help in relation to their needs and expectations.
What are the benefits of consultative relationships?
- Assisting clients to understand their problems, issues and opportunities in a new way
- Suggesting different or more creative solutions
- Acting as project manager, working in partnership throughout the recruitment process
- Using knowledge and business acumen to offer constructive feedback and advice
- Developing the partnership can bring repeat business opportunities/recommendations/referrals
What formula explains value in consultative selling?
V (value) = B (benefits) - C (costs)
Consultant should look at adding value by adding benefits and reducing costs
What are 4 most common reasons for clients to stop using service provider?
No longer buying
Not happy with the price
Not happy with quality of service
Not happy with treatment they get
What elements are considered in totality of a relationship?
Having strong brand identity
Using compliant procedures
Demonstrating helpfulness and friendliness
Providing information and advice
Ensuring consistency of contact
Providing consistently high quality service
What are 5 stages of buying process?
Unawareness - the buyer is unaware of the brand. They have no relationship with the seller
Awareness - the client is becoming aware of the brand but still doesn’t have any relationship with seller
Comprehension - client has a degree of understanding of services provided by recruiter
Conviction - client sees benefits of recruiter’s services and may agree to use them for some recruitment needs
Partnering - fully developed relationship, client is working with recruiter in partnership
What communication tools can be used to develop, maintain and enhance relationships?
Face to face meetings
Telephone
E communication
Marketing collateral
Exhibitions
Networking
Describe financial buyer client profile and how to influence them
Usually a decision maker and person who signs-off the costs and budgets.
Focused on cost and wanting to get the best deal
Interested in overall cost of the process together with any potential additional costs
How to influence:
Focus on investment return, financial elements, profit improvement
