How can we "build relationships" with such overwhelmed contacts?

Place yourself in their seat. 100s of vendors are calling, leaving messages, and emailing you. There is 3-5 highly recommended service providers for every product or service you may be looking for. In the meantime, your plate is full with your immediate objectives. You simply cannot answer every email and voice mail.

Trade shows and industry events are great to get to know people, strengthen existing relationships, and to be seen. However, 90% of my time consists when there are no events to attend.

I have heard high level multifamily executives try to explain, "I want to give my business to all of you, but I can't. There simply isn't enough to spread around to everyone." and "I have had a relationship with Vendor X for 10 years and I also like Vendor Y, but I am not leaving Vendor X."

It is as hard for them as it is for us. I am sure everyone of you can add to this list of challenges on both sides.

Do you find it to be as challenging as I do? Can or will you share any tips with us?

I hope we get some help from both sides.

Thanks,
Davin

Good Morning Davin,

I completely understand where you are coming from. In my role I’m both a vendor and a client, and it truly does get overwhelming in both ends. My recommendation when dealing with a potential client, make sure that your services are clear and that all information is provided timely and without bashing the current provider. At least give them 24-48 hours before the first follow up, and try to email follow ups vs. constant calling. No one likes to be harassed. If they truly want to use you, you will know within the first few days if not immediately. Now, my recommendation when dealing with a potential vendor, make sure you community your true intentions and don’t lead them on. It is not fair to have them believe you will use their services when you truly are not planning to do so. You will save both of you unwanted aggravation by being upfront from the start.

Hope this helps!
Pedro

Good morning Pedro,

Thanks for your response! It is nice to hear from both sides. When you said, "It is not fair to have them believe you will use their services when you truly are not planning to do so." I thought of two points:

1. At trade shows, I hear a lot of interest just to then be ignored when I follow up after the show. I do not expect anyone to admit it personally, but I would say there is some gratuitous interest being handed out. Yes, it would be nice if the interest is genuine.

2. When someone isn't planning on switching, I would appreciate an honest response, yes. However, if they have not heard about my company, I would have a hard time giving up on them as a prospect. As a salesperson, I hear them saying "not right now" and follow up six months later.

Good advice, Pedro! Thank you, sir.

Great subject. Would love to hear from someone on the property management side.

My short take is this: patient persistence.

The long take--

Our prospect/client base is structurally distracted. They have people coming at them from above (investors/owners), on the same line (peers) and below (their employees). Enter the vendor, and there is clearly a clash for the finite amount of time that exists in a given day.

My keys to success are as follows:

1. Patient persistence.

2. Deliver value--do homework in advance, know the mix of their properties/residents, current vendors, and the like. Spend 3-4 hours understanding the prospect before calling so that you can speak with authority and expertise on their company.

3. Hang around---this means staying on their radar without being a pest. Send newsletters, books/articles of interest, new client updates, and other things that they may value. This way, when it comes time to seek out a potentially new vendor, you will come favorably in mind.

4. Develop a robust funnel. When you have plenty of prospects to work with, you do not have the "inverted pyramid" of needing a sole sale with one particular prospect. When you have all of this upside-down pressure, you tend to press, and then squeeze the life out of the prospect--causing you to lose the deal, and maybe the respect of the prospect (now you can't get back in again later).

5. Be generous. Genuinely give of yourself. You know the people out there that do stuff for others because it is the right thing to do. When you genuinely care about your prospects, it comes through. Think about your own personal relationships, do you do stay friends with those that are just "takers"? Probably not. Well, do not be one yourself.

6. Tell the truth. (especially you software salespeople out there) If you know that your product cannot do something, and the client asks, tell them. If you honestly feel that the product you are selling is not right for them, tell them. If you do not know if something does a certain thing that the client deems important, do not reflexively say "Oh, it can do that." I remember going out on a sales call with a VP of a major software company. Before the meeting, he said "what lies am I going to tell today." I cannot tell you how many of his clients have told me that they know he is a liar.

7. Ask the client how they want to be sold to. Ask them how they make these kind of decisions, talk to other vendors see how they do this. This way, you have a much better chance of success.

8. Remember what we all do here for a living---we work to give people a place to call home. Treat each and every part of your daily professional life with that same level of respect. Every single day, in every property that we have ever influenced (either on the vendor side or the property management side) there are people who come home at the end of the day, put their feet up and say "boy, it is sure nice to be home."

Great response Robert! Your points were well thought out and thorough. I have a question: When you stated that you recommended 3-4 hours of getting to know your prospect's company, I am sure there is a process you utilize. Would you share a few details of your process? I admit, I do not do enough of this as I usually gather information as am talking with the prospect. I may have gone to their website, but I haven't found out their buying process, who they currently use, and other pertinent details before I make the first call. I gather information, however, while I am talking with assistants, secretaries, and on-site staff which usually occurs before I get the chance to speak with the decision maker. I am just wondering if you are doing it some other way.

Thanks,
Davin