Relationship capital

Are you looking for a way to make fewer cold calls? Achieve this with your relational capital

Upnify Editorial Team - 19 de abril, 2023

Sales Training

Generate new leads by increasing your relational capital

A fundamental part of the commercial area is the generation of prospects, in more consolidated companies marketing is the best ally to generate people interested in the product being sold. However, on countless occasions it is also the task of salespeople to find those who will become their customers and the first strategy that is normally suggested is “cold calling”, understood as any commercial contact with a person who has not requested information and who is unknown. 

The first barrier to cold calling

The main problem of generating cold calls is the distrust of the people receiving the call, as the prospect does not know the real intentions of the seller and sometimes may fear for their safety, they do not want to waste energy, time, or money. How can you eliminate this type of contact? One very interesting way is to increase your relational capital.

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What is relational capital?

Relational capital is the sum of personal relationships that you establish over time, be they friends, associates, or acquaintances. This group of people becomes your contacts; the more time you invest in building relationships, making friends, and nurturing your reputation, the colder calling disappears because your prospect knows you or knows your name.

To increase your capital, it is important to build and strengthen your social networks, which will be composed of groups of people, which are connected by one or more types of relationships, such as friendship, kinship, common interests, etc. Some actions you can put into practice immediately to strengthen this type of capital are:

1.Build a relationship with your customers, and make them your friends

It is vital to know your customers and meet with them, have face-to-face meetings, building a good relationship with your customers means that you are honestly interested in satisfying their needs correctly, that the person who is your customer builds a solid and trusting relationship. This will result in referrals and account penetration. Even when the person changes jobs or starts a new company, you will be the one they call immediately.

2.Create links with your team

Establish links with each person in your company, no matter what department they belong to, get to know them, and offer your support. One of the most enriching things you will find is that people are very different and it is precisely these differences that enrich you as a person.

3.Treat your suppliers the way you want to be treated

They can be your best allies, as they will allow you to develop a better product for your customers, and establish long-term relationships that allow you to generate strong ties. Your suppliers, just like your customers, will talk about you at some point. I live in a tourist area where one of the main economic engines is the supply to hotels, but unfortunately, on many occasions, they treat the supplier very badly, they don’t pay them, they make them wait and go round in circles, this has generated that the suppliers no longer want to attend them, which brings as a consequence the lack of commitment between the supplier and the client and consequently the creation of a bad image.  

4.Join chambers and associations

The key to increasing your relational capital is to meet more people with common interests. That is why I invite you to join business chambers and non-profit associations. If you manage to reverse this story and treat them as your best customers, they will also become excellent referral sources.

Belong: get involved

Participate: attend meetings and events organized by the organization.

Contribute: offer help without looking for anything in return, the reward will come later.

Finally, every meeting with people is an opportunity to exchange your relational capital. Jeffrey Gitomer, sales expert, says: "At events where you can make business relationships, spend 75% of your time with people you don’t know".


Por Upnify Editorial Team

Upnify Editorial  Team

Upnify´s Editorial Team; formed by professionals and experts in Marketing, Sales, Communication, Design and other areas. They share their experience through articles enriching the commercial culture.