A mind that is expanded to a new idea never returns to its original facet. If we are entering a new market where we don’t have any existence or customer base but have the idea and will to take the challenge of capturing the market without investing money in promotional activities, then, it is only the theory of relationship that works. When we establish a relationship with a person we first come in contact with him and then gradually become closer and get emotionally attached. When we are emotionally attached with the person there is a faith that we are in a relationship. we may or may not give this relationship a name but a relationship means that both people care for each other and they support each other whenever they are in need. A relationship also needs commitment. Here the understanding is deeper and yes, faith can move a mountain.
Similarly, the theory of human relationship also works well in customer relationship. When entering a new market we must strive to establish one good relationship rather than finding ten customers. That one point works as the point of reference, where we get emotionally attached to the person and they also get emotionally attached to us. We must also understand that the relationships are built on trust. Even if that person does not become our customer, he understands our needs and requirements and becomes our reference. This one good relationship can help us in developing new contacts and finding our customers. When with the help of this person we find new customers, we should build the same kind of relationship with them as well. These new customers also become our references to find more customers. This will work as an incessant process as long as we maintain and develop relationship with the customers.
When our personal relations become our customers, we also develop a professional relationship with them. We should value our professional relationships as much as our personal relationships. If we maintain our professional relationships the same way as our personal relationships, our customer start will get closer to us and we can understand each other’s need in a better way. Then we can put in our best efforts to fulfill each other’s needs. The customer’s need is for a quality product and service and the entrepreneur’s need is to get new customers. So, the customer and the entrepreneur work to fulfill each other’s need which becomes a win-win situation for both. This becomes an ongoing process and the relationship gets deeper. This way we can get more referral business. We can even ask for the references from our satisfied customers.
With this new customer relationship and referral business we can target the entire market. We can penetrate deep into the market. Through this customer relationship and referrals we would be able to target the entire market without spending any money and reach from one to one million customers.