Should Golf be Your Number 1 Priority for 2024?

People buy from people. It’s an old adage in the sales world and one that has held true for a number of years. So, if human connections are so important, why have the traditional sales tactics of building rapport with consumers through golf trips and business lunches all but disappeared?

We’re living in a world where countless companies are embracing new strategies and trends, from automation, to generative AI to boost sales rep performance and lead generation. Already, 40% of companies say they’re using AI to support their sales teams. 

But with studies showing that companies that focus on customer experience and relationships earn 3 times higher returns than their competitors, it might be time to change tactics. 

Golf games with clients might not be the key to increasing your revenue in 2024, but building relationships definitely could be. 

Why Relationships Should Be Your Top Priority in 2024

Sales has always been a complex and competitive landscape. However, in recent years, sales teams have begun to face an increasing number of challenges. Not only is competition for customers higher than ever, but a difficult economy is making it tougher to reach quotas.

In 2023, only around 28% of salespeople expected to hit their quota within the year. While innovative technology can help sales teams perform more effectively, focusing on tech upgrades alone may not be enough for struggling businesses. 

Instead, you should be looking for ways to foster genuine, meaningful relationships with your target audience. Here’s why:

1. Buyers Crave Human Relationships

We’re living in a world of technology overload. Virtually everyone has their own smart assistant, interacts with AI bots on a daily basis, and gets bombarded by automated messages each day. It’s leading to an era of “exhaustion” among consumers who are tired of generic experiences and are eager to access real, authentic relationships with other human beings. 

Consumers from all landscapes want genuine human connections. They want to talk to sales reps who empathise with them and understand their pain points. In fact, one study found that 96% of buyers say “empathy” is crucial to a great customer experience. 

While AI systems can automate repetitive tasks and save businesses time, they can’t replicate the experience of a true human interaction. Sales teams that focus on building real relationships are the ones that will differentiate themselves from the crowd in today’s AI-driven world.

2. Personalisation is More Important than Ever

Consumers don’t just want personalised experiences in 2024, they demand them. 71% of buyers say they expect sales pitches, marketing materials, and recommendations to be personalised to them. Another 76% say they feel frustrated when they don’t get this experience. 

Although market research and intelligent tools can give you an insight into your target audience and the “segments” you want to reach, the best way to personalise experiences is to get to know your consumers. This means spending more time with them, building rapport through genuine conversations, learning about the challenges they face, and sharing real insights. 

The more you learn about your consumers, the more you can tailor your sales strategies to each customer, and increase your chances of conversions.  

3. Great Relationships are Recession Proof

One of the main reasons sales teams are struggling to meet their quotas in 2024, is that economic conditions are causing buyer behaviours to shift. Consumers are being more cautious with their finances, as a result of growing cost of living issues. Great deals and pricing structures can help to increase conversions, but they can only do so much. 

Relationships, on the other hand, a recession-proof. One study found that 75% of males and 70% of females said they would continue buying from companies that increase their prices if they feel they have a strong relationship with the brand. 

Other reports share similar insights. For instance, after a previous recession, Harvard Business found that customer experience leaders were more likely to survive and thrive in economic downturns. A great relationship with your consumers can help you to weather any storm.

4. Reduced Marketing and GTM Costs

Economic issues aren’t just affecting purchasing behaviours. They’re also influencing how much companies can afford to invest in their marketing budgets. Focusing on building stronger relationships with your consumers can help you reduce marketing costs in a few ways.

First, committing to lifelong relationships with your consumers, where you build rapport at the beginning of a customer journey, and continue to deliver value after a purchase, increases your chances of retaining critical customers. 

Additionally, your most valuable customers can also support your marketing strategies, referring consumers to your brand. Referred customers convert 30% more often than leads generated from other marketing channels, and have a 16% higher lifetime value on average. 

Building Relationships in 2024: Quick Tips

Clearly, building relationships with your consumers is good for your bottom line and your business reputation. The key to success is finding the right ways to develop and retain rapport. You don’t necessarily have to invest in “golf games”, but you should:

• Go beyond digital: While it’s possible to build rapport with consumers through digital channels like social media and LinkedIn, nothing beats a real face-to-face connection. Meeting with people in person, sending direct mail offers, or even communicating over the phone can lead to stronger human connections. 
• Do your research: Learn as much as you can about your customer before you start building the initial relationship. Find out about their demographics, behaviors, pain points and goals, using prospect research tactics. Discover how they prefer to communicate and build your outreach strategy to suit their preferences.
• Practice empathy: Show your human side during conversations. Don’t just talk about your products and services. Ask questions and actively listen to the responses your customers give. Ensure they have plenty of opportunities to talk and share information. This will help you to collect data for a more personalised pitch.
• Deliver constant value: At the start of a sales cycle, present yourself as a supportive partner and resource for your customers. Share thought leadership and valuable content. Teach them how to overcome their problems, and help them discover the solution. After you make a sale, continue to offer value with onboarding, training, and excellent customer service. 
• Make relationship building a priority: Focus on inspiring your team to put “relationships” above revenue. Rather than rewarding sales teams based on the number of leads they acquire or prospects they talk to, reward those who capture customers with exceptional lifetime value. 

Rediscover the Human Touch in 2024

Buyer journeys, purchasing preferences, and even technology might have changed significantly over the last few years, but one thing remains consistent: the human condition. 

Human beings are naturally wired to crave relationships and human connections. If you can deliver on that front, you don’t just boost your chances of converting new leads. You also pave the way for stronger, more lucrative relationships with consumers, that deliver consistent revenue to your business. 

While technology can help you gain an edge in today’s competitive sales landscape, it doesn’t negate the value of building real relationships with your customers. Rapport isn’t an old-fashioned concept. It’s more important than ever in today’s sales world.