When it comes to building relationships between a buyer and seller, gift-giving is a powerful and useful tactic that benefits both parties. But how can we successfully implement gift-giving without excess spending on prospects that don’t end up buying? In today’s episode of Aligned, Sean wraps up his three-part series with Donald Kelly by discussing proper gift-giving and how any seller can build and maintain relationships with their prospects.
Gifts should not be for everyone:
Gifts should be mostly reserved for people later into the sales cycle, or at least in the middle. If a seller were to buy gifts for every early-stage prospect, they’ll face exorbitant costs while also giving gifts to people who will not place as high a value on it as a buyer with an existing relationship with the seller. Sales should not have control too soon when it comes to gift-giving; the buyer should be at a designated spot within the buying process to warrant gift-giving as an environmental control. Sellers should not have private control over their sales data - if they spend company money to build relationships with clients, that information should be available to the organization that paid for it. Bonus environment control: Use NDAs to help control late-stage deals:
In general, it’s best to work with an attorney to utilize NDAs properly. NDAs can be signed by both the selling and buying organizations to build comfort and reduce anxiety, especially in industries full of proprietary information (i.e. technology and software.) It is an olive branch that psychology develops commitment and introduces the notion of finality within the deal that encourages the buyer to close. Aligned Episode Resources:
Check out the prior two episodes in this three-part series discussing environmental controls, available on Spotify and Apple Podcasts. For more information and content from Donald, visit thesalesevangelist.com or connect with him on LinkedIn. Visit fitzmartin.com for resources, articles, and other information that helps any business leader foster connections between their sales and marketing departments.