The dreaded “friend zone” doesn’t only exist in rom-coms. It happens with client relationships, too. But there is another client relationship that is also mistaken as hopeful, along with “friend zone,” there’s the “transactionship” (yes, we made up a word). These two relationship statuses can be complicated, but by learning how to deepen trust, you can get out of those danger zones and create true partnerships and revenue streams.
Be careful, or you will park yourself in the friend zone
Let’s start with the friend zone. First, you have to be honest with yourself and recognize that you’re there in the first place. Let’s walk through a few scenarios. These are the people that you check in with a lot, but the business never follows. They are happy to have lunch with you or vent to you, but the business never follows. They invite you to sponsor events and even invite you to participate, but don’t reciprocate. You’re always there when they need you, but there is no real ROI on all of your efforts. The truth is, you are in the friend zone.
The danger of a transactionship is simple: no loyalty, no longevity
One of our principal goals is to build long-lasting and meaningful relationships with our clients. Being referred to as “strategic partners” feels a lot more esteemed than being a “vendor”. And we believe getting more business with a few clients is more rewarding than one-off transactions with a bunch of clients. Transactionships are dangerous because clients don’t see you for your value or understand how you’re different from the competition. They hop around to different salespeople based on price, and you’re never the first to come to mind. The other issue with these types of clients is that often, you are only as good as your last transaction, so if that went badly, you may be done forever, or at least for a long time. The truth here is that your relationship is transactional in nature, when they need you, they call, other than that, there is no relationship.
The good news is that, often, you can move these two types of relationships to true partnerships with some effort. But it will take some doing. There is one thing standing in your way. Trust.
Let us clue you in on a little secret about trust: it is your most important bank account. Every single interaction you have with someone is either a deposit or a withdrawal. Show up late to a meeting? That’s a withdrawal. Follow through on a promise? Big deposit. And just like your bank account, if you try to take out more than you’ve put in, you’re going to run into trouble. So, when you want to build trust, you have to be consistent. This is where your personal brand comes into play. You don’t have to be perfect, but you do have to be authentic. People can spot a fake from a mile away, and they won’t invest in someone who’s not being real.
Building trust doesn’t have to be this big, elusive, complicated strategy. It starts with the little things.
- Listen more than you speak. Two ears, one mouth, you do the math.
- Ask deeper questions. The better the question, the better the answer.
- Pay attention to the little details. Notice when they have been away, and recall their favorite coffee order.
- Follow up after a meeting just to say “thanks for your time.” Or share a relevant article to show your value to them.
Be proactive in anticipating their needs. This shows them that you are thinking of them.
These small acts show people you care, and caring is the foundation of trust.
Trust is the superpower that transforms friendships and transactionships into valuable and long-lasting partnerships. Though getting there does require some planning and effort. When you prioritize building meaningful relationships through solid communication, authenticity and work to deepen trust, it benefits both parties. So ask yourself: what deposits have I made into my trust account today? And if you’re running low, don’t worry, you can always start building again. And you know what we say here, Grow Big or Go Home…and that goes for trust too!