What do you understand from Relationship Selling ?

Relationship selling is all about building a friendship or relationship with your prospects and listening to their needs. Once you've built that relationship, shown you care, and earned their trust, you are on the road to making them a customer. 

Knowing their needs and finding out their secret fears can help you find solutions for them that are exactly on-target with their needs and build an even stronger relationship. You'll also find that relationship selling benefits companies that offer products in very competitive markets, particularly if there isn't a lot of difference between products.

Relationship selling is based on authenticity, genuine concern, and honesty. It's not a sales technique that can be simulated without possessing those basic qualities. Having these qualities builds customer loyalty. The goal of relationship selling is to know a large enough pool of people so that all the sales you need come to you, instead of you having to go out and find them. Relationship selling isn't appropriate for all services or products. If you don't believe in your product100% and don't genuinely care about people and their problems, then you may need to find a different target market, or a different product to sell.

Trustworthy dealings with a personalized touch.

Relationship selling works like a chain . It works best in network selling organisations like AMWAY and selling of life insurance. Still a few years age direct debit feature in bank accounts was not that popular and the insurance agent collected the premium on a monthly, half yearly or yearly basis from the customer. By doing so a close relationship of trust was formed and the insurance agent if he served his customer well would get the references of all his friends and relatives which would increase his business. 

A good seller/vendor should listen what his buyer needs for any project, give him/her fair pricing ... good quality products and good lead times... visit the buyer to evaluate what is needed .. dealing with your buyer honestly, ethically and in good faith; accommodate your buyer (have an item in reserve to send out on short notice); assist your buyer to find a commodity on short notice/emergency)    

A good buyer keeps a good relation ship with his/her vendor to pay promptly, fix any issues which could be present preventing prompt payment (fixing PO if wrong pricing been entered ... it is common for a buyer to put an old price on the PO...); meeting with your vendor and giving him/her heads up what will be needed in the near future; not giving pricing or source of vendor A to vendor B.... dealing in good faith, ethically and honestly ...

 

I agree with the experts answers. Thank you 

RelationShip selling is very important in selling because of the GOOD WILL building between the sales person and customer , the more close relation ship between the customer and sales person the more selling , by retaining the customers and by increasing the number of customers as well ,

the more the good customer service means more relationship and more selling ,

so the difference between a company and other companies is highly important by the style of sales people who can create and build the good will and the good relationship with customers so ultimately by increasing sales figures and achieving the goals ,

Agree with the answers provided by Experts. Thank You.

Relationship selling refers to the sales technique which focuses on the interaction between the buyer and the salesperson rather than the price or details of the product. Arguably all three remain critical for any sales activity, but the status of the relationship can increase consumer loyalty as a result of familiarity and personality of the salesperson. This sales technique is prominent for companies selling products and services that rely on repeat business from customers, such as insurance policies, or private instructors, such as dance or music. These individuals are forced to compete on the level of quality and price; however, their customers continue to buy from them as a result of their relationship.

 

If we take a look at the traditional sales approach, the goal is to make the sale and in many cases is the end point of the buyer/seller relationship. Marketers realized at some point that the sale is not the end point, and in many situations is not the end goal either. In actuality, the sale is the beginning of what many companies are looking for: a long-term relationship.

 

These long-term relationships turn to profitability for companies and are referred to as ongoing relationships. For example, real estate agents or lawn care services are not seeking one point of interaction with you. They strive for a longer relationship that produces future interactions and profitability for their business.

Upselling and cross selling to the existing set of customers and clients. Expansion of existing porfolio

I fully agree with answers been added by EXPERTS.......................Thanks