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Sales Speak: Closing Business: Four Stages of a Business Relationship
A number of scholars have studied relationship development and the science/psychology around building relationships. Whether the perspective is from a psychology viewpoint that uses tools like Myers Briggs and others; or from a business science viewpoint about various stages of relationship development, relationships matter and they take time to develop. Certainly, knowing one's style or preference is helpful, since that has an impact on others' styles and preferences. The relationship will either be a miss or a go. This article looks at a perspective on four stages of relationship-building, and provides some insight into each.
Just knowing people is not enough in today's competitive legal market. It may have worked 10 years ago, but not today. We often hear attorneys say, “She'll definitely call me if she ever has a legal need”; or, “I play golf with him every week, he will certainly call me if he needs help”; or, “I talk with this client a lot ' we have a number of active matters.” Assuming that a client or friend will know to pick up the phone and call you when a need arises is wishful thinking.
So what can one do to help drive the relationship from one step to another in the sales process? It is helpful to understand the current stage of your relationship with a contact. There are four basic stages, according to Robert Fisher, Associate Professor of Marketing, and the R.A. Barford Professor in Marketing Communications, at the Richard Ivey School of Business:
- Awareness. Meeting people; getting them interested in knowing you better and/or working with you. Establish common interests.
- Exploration. This is what shifts someone from being an acquaintance to a potential client. Stimulate with value propositions.
- Commitment. Does it make sense to do business together? Introduce unique differentiators and propose.
- Dissolution. A go/no go decision. Is this the right supplier/firm and is this the right client?
While much of Fisher's writing is related to consumer behaviors and the impact the Internet has had, the bridge to law firms and clients is fairly straightforward
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