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Home > Amazing FBA > #329 Building Relationships in e-Commerce (Based on “7 habits of Highly effective people”) Part TWO
Podcast: Amazing FBA
Episode:

#329 Building Relationships in e-Commerce (Based on “7 habits of Highly effective people”) Part TWO
Category: Business
Duration: 00:32:20
Publish Date: 2019-05-30 11:36:38
Description: THE EMOTIONAL BANK ACCOUNT “We all know what a financial bank account is. We make deposits into it and build up a reserve from which we can make withdrawals when we need to. An Emotional Bank Account is a metaphor that describes the amount of trust that’s been built up in a relationship. “ Six Major Deposits [in the emotional bank account]  Overview Understanding the individual Attending to the little things Keeping Commitments Clarifying Expectations Showing Personal Integrity Apologising Sincerely when you make a withdrawal 6 Emotional Deposits in the emotional Bank Account in Detail Deposits 1 Understanding the individual  Customer Avatar research Talk to real people! Understand alternatives ie your competitors Ask them to use rivals products and test your prototypes or own PL samples Understand your product supplier: Business model Daily life Drivers China etc. - Cultural differences Direct no QC etc. Other Suppliers What does a photographer need to do a good job? Ditto Graphic designer (logo, packaging etc.) Ditto industrial designer if you’re going custom product route Business Partners/Stakeholders of all kinds What are their aims in life? In business? Do they align with yours? Joint aim of business? Eg create business to sell in 3 years? 5 Years? Global brand? etc. Deposit 2 Attending to the little things Customer service Followup in a brief respectful way Include nice extras in package Dealing with problems promptly Not being bureaucratic Product Supplier relations Cultural niceties Educated Presents/birthdays etc. Business Partners of all kinds Presents etc Meetings Be on time for meetings don't cancel last minute Language in emails Deposit 3 - Keeping Commitments Customer Make sure promises of your marketing are fulfilled in your product’s performance Product Supplier Pay them on time Don’t move goalposts eg adding in QC or features AFTER ordering. Other Suppliers Pay as agreed Give info as agreed Business Partners of all kinds Task/project management Honouring Agreements on who does what Doing things in agreed timescales Deposit 4 - Clarifying Expectations Customer Eg sizes for clothes; function for technological products Product Supplier HUGE - detailed specification QC expectations Timing expectations Financial arrangements Other Suppliers What they provide eg photos What they WON’T provide Business Partners of all kinds Long term goals defining roles: Who will do what who WON’T do what Amount of time each partner/team member will contribute balance with rest of life Weekend/evening work Financial commitments rest of life Financial commitments within business Who contributes what Approx pool of money available Now In future Deposit 5 - Showing Personal Integrity Customers Deliver on promises If you mess up, apologise, replace, refund ASAP Product Suppliers Be honest about future orders Negotiate with respect Other Suppliers Try not to promise the earth at the beginning Business Partners of all kinds Do what you’ve agreed! Deposit 6 - Apologising Sincerely when you make a withdrawal Customers If you mess up, apologise, replace, refund ASAP Product Suppliers If you’re late paying, pay up, apologise,  don’t make a habit of it Other Suppliers Try not to promise the earth at the beginning If you’re late paying, pay up, apologise,  don’t make a habit of it Tell them up front! Business Partners of all kinds If you’ve messed up, do the work, apologise,  revisit the practicality of the workload If things change for you in regard to commitment to the business, have an HONEST conversation
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