Sales Training: 3 Keys to Build Customer Loyalty | Brian Tracy

Summary

This video script emphasizes the importance of relationship selling for sales success and building customer loyalty. It highlights that 84% of sales in America come from word of mouth and customer satisfaction, making relationship selling crucial. The speaker introduces three keys to building customer loyalty: relationship selling, partnering for profit, and consultative selling. These strategies differentiate sellers in a competitive market and are essential for long-term success. The speaker offers a free three-part video sales training series to help viewers improve their selling abilities and achieve higher income.

Takeaways

• 💼 Relationship selling is crucial for sales success and is the core of modern selling strategies.
• 📈 84% of sales in America come from word of mouth and customer satisfaction, emphasizing the importance of great customer relationships.
• 🤝 Building customer loyalty is one of the most profitable things a business can do, as repeat customers and referrals are more valuable than cold calls.
• 📊 The quality of the relationship with a customer can be a significant competitive advantage, even over competitors with similar or lower-priced products.
• 🔗 Relationship selling requires understanding the customer's experience of the selling process and prioritizing the relationship over the product.
• 🤑 Partnering for profit involves aligning with the customer's business goals, focusing on their profitability, and positioning yourself as a partner rather than a salesperson.
• 🧐 Consultative selling positions the salesperson as an advisor, concentrating on solving the customer's problems and achieving their goals.
• 💰 Customer satisfaction is a valuable asset that can significantly impact a company's success and should be a priority for all businesses.
• 🌟 The speaker has trained millions of salespeople, many of whom have achieved significant success by applying the sales skills shared.
• 🎓 A free three-part video sales training series is offered to help individuals learn sales methods that increase income and build customer relationships with low stress.

Q & A

What is the key skill for success in business according to the transcript?

The key skill for success in business is the ability to sell your product or service effectively.

Why do old school selling methods no longer work?

Old school selling methods such as cold calling and pushy closes are outdated because today's professionals sell completely differently, focusing on relationship selling.

What percentage of sales in America originate from word of mouth and customer satisfaction?

84% of all sales in America originate from word of mouth and customer satisfaction.

Why is it more profitable to focus on customer loyalty rather than constantly seeking new customers?

Referrals to new customers are worth 10 to 15 times a cold call, making it 10 to 15 times easier to sell to a satisfied customer than to find a brand new one.

What are the three keys to building customer loyalty as mentioned in the transcript?

The three keys to building customer loyalty are relationship selling, partnering for profit, and consultative selling.

How does relationship selling differ from traditional selling?

Relationship selling focuses on building long-term customer relationships, understanding customer needs, and providing solutions rather than just pushing products.

What is the significance of the partnering for profit approach in sales?

The partnering for profit approach involves working closely with customers to help them improve their business, which in turn builds loyalty and long-term relationships.

How does consultative selling contribute to building customer loyalty?

Consultative selling involves positioning oneself as an advisor to help customers solve problems, achieve goals, or satisfy needs, which fosters trust and loyalty.

What is the importance of competition in the context of relationship selling?

In a competitive market, differentiating oneself through relationship selling and customer loyalty is crucial for survival and success.

What does the speaker offer in the free three-part video sales training series?

The speaker offers a free three-part video sales training series that teaches how to increase sales and income using low-stress methods and techniques that build great relationships.

How can practicing the sales skills shared in the transcript lead to significant financial success?

Practicing the sales skills can lead to significant financial success by helping individuals reach the top of their industry, start successful businesses, and increase their income substantially.

Outlines

00:00

💼 Relationship Selling for Sales Success

The speaker emphasizes the importance of relationship selling for achieving sales success and building customer loyalty. They clarify that traditional, pushy sales tactics are outdated and that today's sales professionals rely on establishing strong customer relationships. The speaker highlights that 84% of sales in America come from word of mouth and customer satisfaction, stressing the significance of repeat business and referrals. They introduce three keys to building customer loyalty: relationship selling, partnering for profit, and consultative selling. These strategies are crucial for differentiating oneself from competitors and ensuring long-term success in a competitive market.

05:01

🤝 Building Customer Loyalty Through Partnership and Consultative Selling

The second paragraph delves into the specifics of the partnering for profit approach, where the salesperson aligns with the business goals of their clients, focusing on increasing sales, profitability, and efficiency. This approach fosters a sense of partnership and loyalty. The speaker also discusses the consultative selling method, where the salesperson acts as an advisor, helping customers solve problems and achieve their objectives. The success of sales in today's market heavily relies on customer loyalty, which is built through relationship selling and trust. The speaker shares their experience training millions of salespeople and invites the audience to a free video training series to learn more about these sales techniques and strategies.

Keywords

💡Relationship Selling

Relationship selling is a modern sales approach that emphasizes building and maintaining strong, positive relationships with customers. It is a core theme in the video, as it highlights the importance of customer loyalty and satisfaction as the foundation for long-term business success. The speaker explains that 84% of sales in America originate from word of mouth and customer satisfaction, indicating that relationship selling is crucial for generating repeat business and referrals. The video suggests that professionals who excel at relationship selling differentiate themselves from competitors and are more likely to achieve higher sales and profits.

💡Customer Loyalty

Customer loyalty refers to the faithfulness and allegiance customers have towards a brand or business, often leading to repeat purchases and advocacy. In the context of the video, building customer loyalty is presented as one of the three keys to sales success. The speaker argues that a commitment to service that keeps customers for life is both smart and profitable. The video emphasizes that loyal customers are more valuable than acquiring new ones, as they are easier to sell to and can bring in new business through referrals.

💡Word of Mouth

Word of mouth is a form of marketing where satisfied customers recommend a product or service to others, often leading to new business. The video script mentions that 84% of sales originate from word of mouth, underscoring its significance in the sales process. It is a powerful tool in relationship selling, as it relies on the trust and credibility that come from personal recommendations, which are more influential than traditional advertising.

💡Consultative Selling

Consultative selling is a sales approach where the salesperson acts as an advisor or consultant to the customer, focusing on understanding the customer's needs and providing tailored solutions. The video positions consultative selling as a key to building customer loyalty. It involves a deep understanding of the customer's business and offering insights to help them improve operations and profitability. This approach establishes the salesperson as a trusted partner rather than a mere product pusher.

💡Partnering for Profit

Partnering for profit is a business strategy where the salesperson works closely with the customer to achieve mutual business goals, such as increasing sales and profitability. The video suggests that by positioning oneself as a partner who is invested in the customer's success, one can differentiate from competitors and build strong, long-lasting relationships. This approach is about aligning interests and working collaboratively to achieve better business outcomes.

💡Competition

Competition in the video refers to the rivalry among businesses trying to sell similar products or services. The speaker emphasizes that to succeed, one must be better than the competition. It is a driving force that pushes businesses to innovate and improve their sales strategies, with relationship selling being a key differentiator. The video highlights the importance of outperforming competitors to survive and thrive in a turbulent business environment.

💡Customer Satisfaction

Customer satisfaction is the degree to which a customer's experience meets or exceeds their expectations. It is central to the video's message, as satisfied customers are more likely to become loyal and engage in word-of-mouth marketing. The speaker argues that maintaining high levels of customer satisfaction is essential for repeat business and is a key component of relationship selling. Satisfied customers are the lifeblood of a business, contributing to its growth and sustainability.

💡Referral

A referral in the context of the video is when a satisfied customer recommends a product or service to others, leading to new business opportunities. The speaker mentions that a referral to a new customer is worth 10 to 15 times a cold call, highlighting the efficiency and effectiveness of referrals in sales. Building a strong relationship with customers to encourage referrals is a strategic approach to growing a business and enhancing its reputation.

💡Sales Success

Sales success, as discussed in the video, is the achievement of sales goals and the ability to generate revenue through effective selling strategies. The video suggests that mastering relationship selling is crucial for sales success, as it leads to customer loyalty, repeat business, and higher profits. It is portrayed as the ultimate outcome of implementing the principles of relationship selling, consultative selling, and partnering for profit.

💡Customer Intimacy

Customer intimacy, as mentioned in the video, is a state of closeness and deep understanding between a business and its customers. It is achieved when the relationship with the customer is so strong that they prefer to buy exclusively from that business. The video describes customer intimacy as a result of exceptional relationship selling, where the salesperson becomes an integral part of the customer's decision-making process, leading to a competitive advantage and sustained loyalty.

💡Sales Training

Sales training in the video refers to the process of learning and mastering the skills necessary for effective selling. The speaker offers a free three-part video sales training series as a way to help viewers improve their selling abilities. This training is positioned as a tool for individuals to move from the bottom to the top 10% of income earners by learning proven sales methods and techniques that foster strong relationships and increase sales with minimal stress.

Highlights

The importance of mastering the skill of selling to achieve business success.

The outdated perception of sales and the shift towards relationship selling.

84% of sales originate from word of mouth and customer satisfaction.

Referrals are worth 10 to 15 times more than a cold call.

Commitment to customer service is key to building customer loyalty.

Three keys to building customer loyalty: relationship selling, partnering for profit, and consultative selling.

The necessity of differentiating oneself in a competitive business environment.

The significance of understanding the customer's perspective in the selling process.

The importance of the relationship over the product in high-tech sales.

How strong customer relationships can lead to higher priced sales against lower priced competition.

The concept of customer intimacy and its impact on loyalty.

Partnering for profit by aligning with the customer's business goals.

Positioning oneself as a consultant to build trust and loyalty.

The value of customer satisfaction as a company's most valuable asset.

The role of salespeople in attracting, acquiring, and retaining customers.

The impact of the speaker's sales training on individuals' careers and incomes.

An invitation to a free three-part video sales training series for mastering selling abilities.

Transcripts

hello I'd like to talk to you now about

relationship selling for sales success

and three keys to build Customer Loyalty

what I'm going to share with you could

change your life in business forever if

you're a freelancer a coach a consultant

A salesperson or a speaker author

business owner entrepreneur or

solopreneur there's one skill that you

must Master if you're going to be

successful it has the power to transform

your life from getting by to getting

wealthy and what is this one skill it's

your ability to sell your product or

service effectively in whatever quantity

you want now when I say sales most

people tense up they immediately get a

flood of images in their head of cold

calling and pushy closes and pure dread

the very idea of selling terrifies most

people and holds them back from

fulfilling their potential in business I

can understand that but let me tell you

something those old school way of

selling are over nobody sells like that

anymore I learned those skills when I

began in the 1960s by the 70s they were

gone and by the 80s they were history

today professionals sell completely

differently today we're in what we call

a new era of selling and we need new

skills these skills are relationship

selling 84% of all sales in America

originate from word of mouth and from

customer satisfaction from great

customer relationships almost everything

you buy is bought after you have heard

someone else say that they bought it and

they were happy most of your new

customers should come from your

satisfied existing customers you cannot

make a living by getting new customers

every time you've got to get the

customers coming back and bringing their

friends a referral to a new customer is

worth 10 to 15 times a cold call in

other words it's 10 to 15 15 times

easier to sell to a satisfied customer

than it is to go out and find a brand

new customer to sell to in the first

place your commitment and dedication to

service to your customers in such a way

that you keep them for life and build

incredible customer loyalty is one of

the smartest and most profitable things

that you could ever do and you can learn

how to do it it's not difficult there

are three keys that I've discovered in

Reading thousands of books and teaching

millions of people in sales I discovered

these three keys for building Customer

Loyalty relationship selling partnering

for profit and consultative selling

these are what are used by the highest

paid people at all levels of business

whether it's a person starting out or a

Fortune 100 company these are all ways

that you differentiate yourself from

anyone else who's attempting to sell the

same product or service and remember in

business today there are three words

that you must always remember and they

are competition competition and

competition and you have to be better

than your competition to survive in this

very turbulent World we're in today

relationship selling is the core of

modern selling strategies and

maintaining customer satisfaction it's

really the key to your long-term success

as it is in all parts of life

relationships are 85% of life in

everything that you do relationship

selling requires a clear understanding

of the Dynamics of the selling process

as they are experienced by your customer

they spent millions of dollars actually

interviewing customers and asking them

how they felt about sales presentations

for the first time in history they found

out how customers buy rather than just

how salespeople sell now because of the

complexity of most products and services

today especially high-tech products the

relationship is actually more important

than the product because the person can

get the product anywhere and they don't

know what's in your product anywhere way

so they have to have something that they

can hold on to something they can trust

and it's always the relationship it's

always how they feel about

you the relationship comes first it must

be established clearly before you can go

on to step two if there's no

relationship there's no further

conversation the relationship is in fact

the key differentiator between you and

your competitors in many cases the

quality of your relationship with with a

customer is the competitive advantage

that enables you to Edge out other

competitors who may have products and

services that are similar or which are

even selling at lower prices you'll

notice that companies that have great

relationship with their customers sell

higher priced products against lower

pric competition all day long they sell

more they sell easier and they make

higher profits now in relationship

selling the quality of the trust bond

that exists between you and your

customer can be so strong that no other

competitor can get between you sometimes

they call this in the research customer

intimacy you get so close to your

customer that they won't buy from anyone

else once you've achieved that your

success is going to be incredible now

the second part of building customer

loyalty is the partnering for-profit

approach to business sales when you deal

with a business person you're going to

be sure of one thing that person thinks

night and day about his business he is

it is very close to him or her it's dear

to his or her heart that's all they

think about is increased sales and

profitability lower costs higher profits

and if you come in and talk to him and

ask him questions about his business and

look for ways to help him run his

business better faster more economically

the customer is going to warm up to you

and want to be associated with you and

your company now this approach to

partnering in profit with your customer

is a key way to differentiate yourself

and to building Customer Loyalty for the

indefinite

future as your customer's partner you

should always be looking for ways to

help and advise your customer on ways to

cut costs and improve results you should

position yourself as a person who cares

about the success of your customer more

than anyone else does and apparently

even more than you care about selling

your product or service at the present

moment when the customer feels that you

care more about them them than making a

sale then you begin to develop this Bond

of loyalty that becomes almost

unbreakable the third key to building

customer loyalty is what is called the

Consulting approach to your dealings

with your customer or what is often

called consultative selling when you

position yourself as a consultant as an

advisor you are really positioning

yourself to serve your customer as a

problem solver instead of trying to sell

something to your customer you

concentrate all of your efforts and

atten ention on helping your customer

solve his problems achieve his goals or

satisfy his needs the success of a

business or a sales career depends upon

relationship selling and Customer

Loyalty in today's competitive market

customers are very difficult and

expensive to acquire the first time and

they can represent tremendous value to

an

organization in fact customer

satisfaction can be the most valuable

single asset that a company can acquire

during its lifetime your job no matter

where you are in the private sector is

to help your company attract acquire and

keep customers

indefinitely they make all the

difference between success and

failure now I've personally trained over

2 million salespeople in 72 countries

over the last few years many of them

have gone on to reach the top of their

office or Niche or industry some of them

started at the bottom and now own large

m multi-million dollar companies

practicing the sales skills that I have

shared with them several are making much

more money than they've ever had before

many of them are millionaires and

multi-millionaires so I'd like to share

some of these secrets with you in a free

that's the word free free three-part

video sales training Series in this

video series you will learn how to jump

from the bottom 10% to the top 10% of

income earners in just two simple steps

that work for everyone you'll learn 11

words that you must memorize and repeat

to yourself every morning you will learn

two factors that every top salesperson

has more of than everyone else you'll

learn the five key differences between

winners who sell more close more make

more money and those who struggle all

the time you'll learn for Human Action

top performers simply refuse to do so

sign up today for my free three

three-part video training Series where I

show you proven sales methods to

increase your sales and income lowkey

low stress no stress easy methods and

techniques that build great friendly

relationships with other people with no

hassle on your part so start mastering

your selling abilities today and sign up

for the three free videos