The Six Phases of Strategic Relationships in Enterprise Sales
Ever wonder why some sales professionals seem to effortlessly build lasting client relationships while others struggle to get past the first meeting? The answer lies in a strategic approach I've uncovered through years of research and real-world application.
Over the past two decades, we've conducted a longitudinal Relationship Economics quiz with over 10,000 data points to date, and the results are clear: top-performing enterprise sales professionals consistently use six distinct phases in their relationship development process. These six phases aren't just theoretical constructs. They're practical, actionable strategies that, when implemented effectively, can achieve material results.
Let's break down these six phases, starting with the foundation: Mapping.
Phase 1
Mapping
Mapping goes beyond identifying an account. It focuses on pinpointing the critical relationships within that account and understanding the entire relationship value ecosystem. We need to ask: What are the critical levers in the success of this business, who controls those levers, and what do they need to act? Who are the most vital enablers of their success, and what relationships are holding them back/anchoring them from strategically moving forward?
I want to understand better every strategic relationship that impacts their business – from outside advisors to the relationship between various functions, geographies, and remote business unit autonomy from corporate HQ. I place the executive relationships at the center and construct an ecosystem around them. Who influences their thinking, decision-making criteria, and evaluation of various strategic options? What are their most pressing concerns?
This level of due diligence mirrors what many organizations go through for a merger or an acquisition (M&A) event. You must chart your relational path in your journey from now to next, identify critical relationships you must nurture, and determine the most effective approaches to engage and influence them. The goal isn't to convince or convert but to nurture a mutually value-based relationship where you become a trusted advisor, a valuable sounding board, and an insightful ally they can't succeed without.
Phase 2
Relating
Once you've mapped the terrain, it's time to establish that initial connection. This connection is where my trust formula comes into play: credibility plus empathy multiplied by consistency over time.
Demonstrate credibility through insightful questions. Show empathy by understanding their challenges and opportunities. Maintain consistency across every interaction – in each interaction, you often have one of two options: you'll either enhance/elevate your relationship or dilute it; it all depends on how you show up!
A crucial aspect of relating is what I coach as Listening Louder. This intentionality translates into lowering your agenda and needs to make time and space for focusing on the client's wants and needs (often described interchangeably). I once met a CEO for coffee every six weeks for several years. Those conversations focused on his challenges and opportunities and laid the groundwork for a relationship that has spanned two decades, with us working together across multiple companies and industries.
Phase 3
Nurturing
Many sales reps and companies suffer from "new logo-itis" - an obsession with constantly acquiring new accounts. I disagree with this strategy if you become myopic and only care about net new. Nurturing is all about land and expand. Don't misconstrue my point; I don't know of any business that doesn't need new business.
The relationship starts after the sale. Only when you nurture and focus on deepening an existing relationship ecosystem through real and sustainable value creation can you grow that relationship. Once you've established a foundation of trust, demonstrated unwavering integrity, and advocated on their behalf even when it didn't benefit you, you demonstrate a vested interest in their success. You also understand more about their relationships and others within their ecosystem who could be struggling with similar challenges, pursuing similar upside opportunities, and could benefit from your solution. This more astute investment of your time, effort, and (often limited) resources can help you grow your business relationships intelligently and profitably.
How do you nurture these relationships? You have to care and personalize your interactions. I once had a client traveling to China for the first time. I bought him an Eyewitness travel book (our favorite, as they're highly visual and written by locals), marked key sections with sticky notes, and delivered it with a personalized note. The cost? About $30 and an hour of my time. However, the impact on our relationship was invaluable because I helped create a great (personal) experience for this executive client and his wife.
This kind of personalization, going beyond your immediate business interests, truly endears you to your clients.
Phase 4