Relationships make many things possible — they open up doors that might otherwise be difficult. How does this work? As relationships strengthen, people become more comfortable with each other and trust ensues. Where there is trust there are possibilities.

Take, for example, Rand Riedrich, the Certified Business Advisor for the Kitsap Business Assistance Center (KBAC). He has been building relationships with bankers in Kitsap County since his arrival from New Orleans in February. He stops in to say hello, tells them about services the KBAC offers and asks how the KBAC can help their customers. He is building relationships. As a result, the banks are sending customers to Rand so he can help business owners with their business plans. Rand is finding customers through his banker relationships. It goes a step further: the bank is now getting customers who are prepared to apply for loans. It works.

Most businesses strive for repeat customers. In the case of the KBAC, some clients come back several times for more counseling services, or decide to attend one of the business workshops the KBAC offers. The KBAC’s banking outreach is cost effective — key expenditures are the time and fuel used to visit customers. More importantly the KBAC advisor is building trust with his customers, the banks and business owners. A positive first experience keeps the doors open for repeat business.

Why do I tell you this? It is much cheaper to keep your customers than to acquire new ones: customers are five times more expensive to get than they are to keep. Is it possible that satisfied customers can end up being an extension of your own ”relationship building plan?” Yes they can, by recommending your services or products to others. And, it works.

Networking groups create opportunities to establish and build relationships. Chambers of Commerce, professional organizations, Rotary, Kiwanis, Lions and other service clubs are excellent examples of networking forums. Have you ever wondered why so many business owners pursue these organizations? Principally to give back to their community or to share knowledge; yet they also enjoy new relationships that can lead to future customers. It works.

Building relationships is a major component of successful marketing. Often times business owners shy away from the word ”marketing.” It has a reputation for being expensive and flashy. Yet the networking and relationship building components of marketing do not cost anything, except for a bit of time and energy on your part.

Relationship marketing is an essential component of current national and international marketing theories. Just Google it and you will see.

For more information on how you can bring relationship marketing into your business model, contact the KBAC for your free and private counseling session(s).

(Editor’s Note: Wendy Miles, Director of Customized Training and Military Education at Olympic College, oversees the operation of the Kitsap Business Assistance Center (KBAC). For partnership opportunities, contact her at 360-475-7786. For KBAC counseling services contact Rand Riedrich at 360-307-4220, rriedrich@oc.ctc.edu.).