Lessons on Building Customer Relationships, with Ed Wallace, Episode #50

How can sales leaders focus on building customer relationships in today’s digital environment? Is it even possible? Is it worth the effort? On this episode of #SellingWithSocial, you’ll hear from business leader and guest expert, Ed Wallace. Ed is President and Chief Relationship Officer of The Relational Capital Group. He consults with and speaks for corporations and associations across the globe with a client list that is a Who’s Who of Fortune 500 companies. He is the author “Fares to Friends”, “Creating Relational Capital”, “Business Relationships That Last”, and his most recent #1 Bestseller “The Relationship Engine.” In addition, Ed is currently on the Executive Education faculty of Drexel’s LeBow College of Business and Villanova University’s Human Resources Master’s program. You don’t want to miss a minute of this exciting episode featuring Ed’s years of relationship-building expertise!

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This podcast is being brought to you by STAR – The Sales Team Alpine Retreat: A Frost & Sullivan Executive MindXchange taking place this February 7-9, 2018 in Lake Tahoe, Nevada.

Is time building customer relationships worth it?

To succeed as a sales leader, do you really need to take the time to build customer relationships? Does the relational effort payoff in the end? In this episode of #SellingWithSocial, Ed describes the importance of building a deeper relationship with specific customers rather than relying a broad and generic relationship. Ed doesn’t rail against digital connections, he encourages sales leaders like you to leverage digital resources to make those connections as personal as possible. Our tendency is to think of our contacts just as representatives of an account, division, or company. Ed wants us to go deeper and connect with our contacts on a relational level. Listen to this episode as Ed expands on this process and more, don’t miss it!

What is the principle of worthy intent?

What is the deciding factor that causes a customer relationship to deepen loyalty and trust while other business relationships seem to plateau? In this episode of #SellingWithSocial, Ed shares the principle of worthy intent and how it can make all the difference in building customer relationships. The principle of worthy intent is not just about having good intentions, it’s about the behaviors you see from your customers as they respond to the way you treat them. In our conversation, Ed shares a story of how a children’s hospital earned his family’s loyalty not based on their good intentions alone but on how they communicated those intentions and made them present in the lives of those they aimed to serve. To hear the whole story from Ed and to find out how you can deepen your business relationships, make sure to listen to this episode!

Discover why integrity is one of the most important values.

Did you know that a study that found that there are no “Trust neutral interactions?” Researchers discovered that every time you interact and communicate with someone, they will either trust you more or they will trust you less. I don’t know about you but that really makes me pause and consider how I interact with the closest people in my life and my customers! On this episode of #SellingWithSocial, Ed uses the lesson found in this study to drive home the importance of operating with integrity. You won’t become an expert at building customer relationships if you don’t deal with integrity. Ed encourages leaders like you to do a self-evaluation and consider how your interactions with customers could be perceived, are you giving people an opportunity to trust you more or less? Learn more helpful insights from Ed on this episode!

This podcast is being brought to you by STAR – The Sales Team Alpine Retreat: A Frost & Sullivan Executive MindXchange taking place this February 7-9, 2018 in Lake Tahoe, Nevada.

What is relational GPS and how can it help you deepen customer relationships?

If you want to take your efforts at building customer relationships to the next level and truly connect with your clients, you’ve got to utilize relational GPS. In this episode of #SellingWithSocial, you’ll hear all about relational GPS and how you can use it to strengthen your relationships with customers and stay competitive. Ed says that relational GPS is knowing the following about your customer;

• Goals
• Passions
• Struggles

Do you know the goals, passions, and struggles that are important to your customer? If the answer is no, then you’ve got work to do! Take the time to get to know your customer, identify these areas in their life and show that you care about them as an individual. Make sure to listen to this episode as Ed expands on this concept and shares additional insights!

Outline of this Building Customer Relationships Episode

• [1:20] I introduce my guest, Ed Wallace.
• [2:30] Ed shares his story, the cliff notes version.
• [7:30] How relevant is relationship building in the digital age?
• [12:00] What led Ed on his journey of writing books?
• [16:00] What is the principle of worthy intent?
• [19:00] Why integrity is an important value.
• [21:00] A story about why you need to make every interaction matter.
• [26:00] What is relational GPS?
• [31:00] Ed tells his story about building a relationship with a taxi cab driver.
• [43:00] The little things that turn fares into friends.

Resources Mentioned on Building Customer Relationships

• www.relationalcapitalgroup.com
• Ed’s book, “The Relationship Engine”
• Edwallace[at]relationalcapitalgroup.com
• https://www.linkedin.com/in/relcapgroup/
• https://twitter.com/relcapgroup
• Tommy Boy

Connect with Mario!

• www.vengreso.com
• On Facebook
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• On YouTube
• On LinkedIn

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