There has been much talk in the news, recently, about the changing attitudes of customers towards their relationships with business.
The new trend towards long-standing and meaningful relationships between customers and the businesses they support has been dubbed “the membership economy” – and it marks a significant trend which is shaking up traditional sales strategies, and causing many businesses to rethink their approach to customer engagement.
Here at SalesFitRx, we’ve outlined some significant details regarding that shift in perspective – and we know the best sales reps will be paying attention.
Membership is more meaningful. The most marked shift of the membership economy is a change in the way that your audience interacts. Members care more about your business than customers do – they act with the perception of investment in your brand, which makes them more loyal, and willing to forgive the little transgressions.
That said – that feeling of investment works two ways. An audience who views themselves as members will expect more from your business – particularly when it comes to transparency, accessibility, and personalized interaction.
Engagement is your most important metric. Membership sales strategy starts with a sale, as opposed to closing with one. Simply put – the purchase of your product or service is just the beginning! For members to recognize high value, they need to feel engaged – which means the development of ongoing customer interaction is absolutely essential to create a stable and loyal relationship. Still, by engaging in ongoing discourse and exchange, you’ll garnish the attention and loyalty that turn your members into the best of brand advocates – driving future engagement with other prospectives.
Customer on-boarding is critical. When a new customer experiences immediate value, it creates a sense of momentum which drives future engagement. By incorporating customer onboarding into your sales process, you’ll allow your clientele to feel the immediate benefits of partnering with your organization – and reinforce their positive perceptions of your brand.
Empathy is essential. A comprehensive understanding of your customer’s mission for membership should be the entire focus of your sales strategy. By emphasizing their needs, and the ways in which you can meet them, you’ll shift focus to the relationship (as opposed to the product or service). The membership economy is all about that interaction – and those businesses who carry through on promises of added value will be richly rewarded.
As a sales professional, you can shift your sales strategy to incorporate these concepts, by being the conduit for the customer’s experience of added value. Embracing the membership economy means going beyond standard practices for account management, and developing long-lasting relationships with your clientele, via ongoing support and contact.
By catering to your customer’s desire for long-term, mutually beneficial relationships, you’ll help inspire the brand loyalty and advocacy that build interest, boost social promotion, and gain you the qualified referrals that grow your future business – as well as retaining your current clientele.
For more information on how you can find more selling time, hone your sales strategy, and keep up with the times, contact me, today: karl.gustafson@SalesFitRx.com | 602-427-2399