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The Relationship Economy: Building Stronger Customer Connections in the Digital Age
384Overview
Creating Authentic Customer Connections in a High-Tech World In The Relationship Economy, author John DiJulius teaches business leaders about the importance of relationship building in the digital age. He argues that in spite of (and because of) the advances in tech, we've become a less connected society. We have dramatically evolved away from face-to-face communication, and the skill of building rapport is evaporating. This means that customer personalization and relationships are more important now than ever—and they will be the key to success for businesses moving forward. As he aptly states, “Being able to build true sustainable relationships is the biggest competitive advantage in a world where automation, artificial intelligence, and machine learning are eliminating the human experience, which is what creates the emotional connections that build true customer loyalty.” This book reminds readers of the importance of personal connections and shows them how to attain meaningful, lasting relationships with their customers.
Product Details
| ISBN-13: | 9781626346437 |
|---|---|
| Publisher: | Greenleaf Book Group Press |
| Publication date: | 10/08/2019 |
| Pages: | 384 |
| Sales rank: | 1,219,211 |
| Product dimensions: | 5.70(w) x 8.10(h) x 1.10(d) |
About the Author
John DiJulius is the authority on world-class customer experience, organizations across America use his philosophies and systems for creating world-class service. He has worked with companies such as the The Ritz-Carlton, Lexus, Starbucks, Nordstrom, Panera Bread, Nestle, Marriott Hotel, PWC, National City Bank, Cheesecake Factory, Progressive Insurance, Harley Davidson, State Farm, Chick-fil-a, and many more, to help them continue to raise the bar and set the standard in service that consistently exceeds customer expectations.
Read an Excerpt
CHAPTER 1
WELCOME TO THE RELATIONSHIP ECONOMY
"Today's illiterate are those who have an inability to truly make a deep connection with others."
Since I was old enough to remember, my life's obsession was to play shortstop for the Cleveland Indians. I worked at it. I was committed and passionate, and nothing was going to stop me. Except for maybe the lack of a little talent or, in my case, the lack of a lot of talent. No matter how hard I worked, there was absolutely no way I was ever going to play in the big leagues. There are certain genetic skills we are either born with or not. And if not, there is not much we can do about it.
There is one that when mastered will, without question, have the biggest impact on us personally and professionally. That skill is the ability to build an instant connection with others.
There are skills we can develop, however, and of all these, there is one that when mastered will, without question, have the biggest impact on us personally and professionally. That skill is the ability to build an instant connection with others. This is way more than a mere communications skill. It is the ability to communicate with a purpose — to build your community at every stage of your life. Building a relationship with someone else, whether an acquaintance, friend, customer, coworker, or a total stranger, is far and away the most important skill every human being should be taught at an early age and then should hone throughout life. This skill should be taught at home, in school from pre-kindergarten to graduate school, and, of course, in business. Unfortunately it is rarely taught in any formal way.
The Lost Art of Building Rapport
Today we are living in the "digital disruption era." Technology has provided us with unprecedented advances, information, knowledge, instant access, and entertainment. We have computers, mobile phones, tablets, the internet, social media, apps, and artificial intelligence — assistants like Siri and Alexa, chatbots, virtual concierges, facial recognition, and self-driving cars.
However, as convenient as these advances make our lives, they also have changed the way we communicate, behave, and think and have led to a dramatic decline in our people skills. As a society we are now relationship disadvantaged. We no longer become curious about others or eager to engage in conversations. The younger generation primarily communicates electronically, and the explosion of ecommerce means we go out less and less. In business, multi- channel communication has dramatically reduced phone calls to companies; customers can get answers and place orders via email, on websites, or through social media channels.
The pendulum has swung over to high tech and low touch. Consequently we long for a sense of community, belonging, and purpose, a world in which people actually know our name, what we do, what is important to us, and have trust in one another. Today trust is an endangered value. Those who understand that human touch is the most important part of any experience — especially a great customer experience — will flourish. Personally and professionally, success is increasingly about creating and building human connections.
Those who understand that human touch is the most important part of a great customer experience will flourish. Success is increasingly about creating and building human connections.
The Benefits of Strong Connections
When you have the ability to make an instant connection, get people to instantly like you, make them feel comfortable, and fully develop relationships of all kinds, you are likely to have more fulfillment and success. I cannot think of anything that will give you a bigger advantage in all aspects of your life — that includes higher self-esteem, a larger network, greater support system, and more resources. Your personal and professional life will be filled with an abundance of people who think highly of you, love you, and have your back.
People who have key relationships and positive influences in their life are usually less stressed because they have someone they can talk to, vent to, and confide in when life gets tough. And it is just as rewarding to be a positive influencer for others — to have others rely on you.
Lives can be changed for the better because the right friendships can make a difference in someone's life at a critical point. In an interview with Tom Bilyeu on his series Impact Theory, author Simon Sinek said, "Those relationships that we foster over the course of a lifetime ... will oftentimes save your life. They will save you from depression. They will save you from giving up, they will save you from any matter of negative feelings about your capabilities, your own future, when someone just says I love you and I will follow you no matter what."
People with strong relationships have a greater potential for more professional success, are less impacted by corporate politics, laugh more, and experience less depression. Research has shown that social engagement and meaningful relationships are associated with living a longer life and improving your overall health. The flip side is also true: Julianne Holt-Lunstad, the lead author of a study that reviewed and analyzed research in this area, noted, "A lack of social relationships was equivalent to smoking up to 15 cigarettes a day."
A lack of social relationships was equivalent to smoking up to 15 cigarettes a day.
Studies have repeatedly shown that the happiest people are the ones with the most meaningful relationships. Yet it seems to have become increasingly difficult to maintain these relationships. Too often we are guilty of treating the people we come in contact with as part of a transaction or as a private audience for us. We miss out on an opportunity to make a deeper connection that can potentially enrich both lives.
Think about your best friend or your significant other; both were strangers at one time. How different your life would be if they had remained strangers. Thank goodness you found a way to develop a rapport that turned an initial contact into a lifelong relationship.
But something is happening in our society. Research shows that over the past several decades our inner circle — the people we trust the most — is much smaller than in the past. Today the average American trusts only 10 to 20 people.
Relationships Are More Vital Than Ever in the Business World
Understand this: There is an Uber coming to every industry. Uber is part of the digital disruption that completely turned the taxi and limousine industries upside down. But you can track similar developments in other realms. Amazon has disrupted nearly all retail businesses — grocery stores, health insurance, banks, home security, entertainment, pharmacies, and shipping, and it continues to expand into other fields. Airbnb has disrupted the hotel industry. Netflix wiped out video rental stores.
In the past, cutting-edge innovation had a much longer shelf life in overcoming competition. Now, however, many of your competitors can replicate your innovations and quickly reduce any temporary advantage you had in the market.
No business is safe. In the past, cutting-edge innovation had a much longer shelf life in overcoming competition. Now, however, many of your competitors can replicate your innovations and quickly reduce any temporary advantage you had in the market. The answer cannot just be about technology, either. To be sure, technological advancements are critical to every business staying relevant. However, technology by itself is not a differentiator. The more you place technology between the company and the customer, the more you remove the human experience.
People crave human interaction. Customers desire recognition and a personalized experience; technology can never be empathetic or build relationships. In short, technology cannot provide genuine hospitality. It cannot express empathy, make people feel cared for, express emotions and vulnerability in a relatable way, or make people smile and laugh.
For anyone and any business to thrive in the future, they will have to master the art of relationship building.
"Our careers, our companies, our relationships, and indeed our very lives succeed or fail, gradually, then suddenly, one conversation at a time."
— SUSAN SCOTT
A Relationship-Building Strategy
It takes a great deal of work to build deep, long-term relationships. In Ben Healy's article "How to Make Friends, According to Science," he shared a recent study that found it takes approximately 50 hours of socializing to go from acquaintance to casual friend, an additional 40 hours to become a "real" friend, and a total of 200 hours to become a close friend. "Self-disclosure makes us more likable, and as a bonus, we are more inclined to like those to whom we have bared our soul. Longing for closeness and connection is universal," Healy said.
A study by the Relational Capital Group revealed that 89 percent of senior leaders believe that relationships are the most important factor in their success year over year. However, the study also revealed that only 24 percent of these leaders actually do anything intentionally to promote building those relationships. Finally, the study further indicated that less than 5 percent of organizations actually have any specific strategies for helping their professionals develop and strengthen the relationships required to achieve their goals.
A study revealed that 89 percent of senior leaders believe that relationships are the most important factor in their success ... only 24 percent of these leaders actually do anything intentionally to promote building those relationships ... less than 5 percent of organizations actually have any specific strategies for helping their professionals develop and strengthen the relationships required to achieve their goals.
What It Takes to Master Rapport Building
No one is born with a rapport-building gene. And not everyone is inclined to be outgoing or to strike up a conversation with people they don't know. The environment you grow up in plays a big part in how you act. If you had extremely outgoing parents, chances are you will grow up to behave similarly. However, even if you were not exposed to an outgoing environment in your early years, this skill set can certainly be developed and mastered. There are certain sets of characteristics you need to work on in order to master relationship building. We will be discussing them in more detail in the following chapters. But briefly, to develop strong relationships you:
• Must be authentic
• Must be obsessively curious
• Must be a great listener
• Must have incredible empathy
• Must love people
MUST BE AUTHENTIC
People have great BS detectors. Your interest in others and your desire to make a connection must be authentic. If you are asking questions merely for appearances, just to make a sale, or to turn the conversation back to yourself, people will see through you. Not being authentic will earn you a poor reputation. You are much better served simply coming out and asking for what you want; people will respect you more. Instead of trying to manipulate people into buying products or services, you must show them you care. You need to demonstrate that you are genuinely interested in others and that you realize they are human beings with a life and not just customers you are trying to sell to.
MUST BE OBSESSIVELY CURIOUS
Those who are the strongest at relationship building are extremely curious. They are dying to learn about others and their experiences. They are curious not only about subjects that interest them but also about unfamiliar subjects. They become investigative reporters, wanting to learn as much as possible about other people's lives and passions. They truly enjoy learning; they explore what makes human beings tick.
MUST BE A GREAT LISTENER
There is a lot more to being a good listener than just letting the other person talk. You need to be attentive, patient, make good eye contact, not interrupt, ask probing questions, and finally pause to process what you heard before responding.
MUST HAVE INCREDIBLE EMPATHY
One of our strongest human talents is the ability to empathize with another person's situation. Seeing and understanding someone's experience from their perspective, walking in their shoes, is key.
MUST LOVE PEOPLE
No two people are alike. No one is perfect. Everyone is flawed. Yet everyone has unlimited potential. Human beings are incredible. Everyone has a story about their life journey — what they have overcome, their accomplishments, their incredible talents, fears, regrets, and dreams. Each human being has a story inside. The fun is discovering those incredible stories. When you truly serve people, your goal is not to make money or to get them to do what you want, but to take care of their needs and desires.
Each human being has a story inside. The fun is discovering those incredible stories. When you truly serve people, your goal is not to make money or to get them to do what you want, but to take care of their needs and desires.
The Customer Service Revolution 2.0
The Relationship Economy is the follow-up to my groundbreaking book, The Customer Service Revolution. In that book I explained that creating a customer service revolution means:
A radical overthrow of conventional business mentality designed to transform what employees and customers experience. This shift produces a culture that permeates into people's personal lives, at home, and in the community, which in turn provides the business with higher sales, morale, and brand loyalty — making price irrelevant.
In other words, the customer service revolution is about having a fanatical obsession to deliver the best possible customer experience, making it your single biggest competitive advantage. Revolutionary companies create "experience epiphanies" that fill a gap customers never knew existed. Since technological advancements have come at the expense of human connections, organizations now need to reinvent their business model to marry digital and human experiences in the best way possible.
Since technological advancements have come at the expense of human connections, organizations now need to reinvent their business model to marry digital and human experiences in the best way possible.
Why the Relationship Economy, Why Now?
In the past 25 years I have built three successful businesses, including one of the top customer service consulting firms that works with incredible companies — The Ritz-Carlton, Lexus, Starbucks, Chick-fil-A, Celebrity Cruises, and many more — and I have seen a seismic shift happening today. Technology is changing the world, and not always for the better. For all the benefits it is bringing to businesses, it is coming at a significant cost. The cost is weaker human relationships that are vital to customer experiences, employee experiences, and happiness. Focusing strictly on a digital experience will eliminate customer loyalty and emotional connection to a brand, which is why the Relationship Economy is emerging. Business leaders around the world have to take advantage of technology advancements while balancing a human experience that people crave, want, and need.
What Is the Relationship Economy?
In a Relationship Economy the primary currency is made up of the connections and trust among customers, employees, and vendors that create significantly more value in what we sell. These relationships and connections help make price irrelevant.
In a Relationship Economy the primary currency is made up of the connections and trust among customers, employees, and vendors that create significantly more value in what we sell. These relationships and connections help make price irrelevant.
The Relationship Economy is about building a culture that recognizes the importance of each individual and of making everyone a part of a community that is working toward something bigger — a community that makes them feel cared for.
The Relationship Economy is about building a culture that recognizes the importance of each individual and of making everyone a part of a community that is working toward something bigger — a community that makes them feel cared for.
The Relationship Economy is how strongly you feel about the people and businesses in your life. Relationships are the biggest differentiator in customer and brand loyalty. Relationships are at the center of all we do.
The chapters that follow explore in depth what a Relationship Economy is, why it's important, and how to dominate in it.
Chapter 2 examines the rapid pace at which business and customer service are changing, like no other time in history.
Chapter 3 explores ways to humanize the experience, and chapter 4 delves into the new reality of the touch-screen world we are living in today.
(Continues…)
Excerpted from "The Relationship Economy"
by .
Copyright © 2019 John R. DiJulius III.
Excerpted by permission of Greenleaf Book Group Press.
All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.
Excerpts are provided by Dial-A-Book Inc. solely for the personal use of visitors to this web site.
Table of Contents
1. WELCOME TO THE RELATIONSHIP ECONOMY,
2. STATE OF SERVICE,
3. HUMANIZING OUR FUTURE,
4. THE TOUCH-SCREEN AGE,
5. MEET AS STRANGERS, LEAVE AS FRIENDS,
6. THE RELATIONSHIP ECONOMY IN ACTION,
7. BE THE BRAND CUSTOMERS CANNOT LIVE WITHOUT,
8. BE THE BRAND EMPLOYEES CANNOT LIVE WITHOUT,
9. ARE YOU BEING DISRUPTED OR ARE YOU THE DISRUPTOR?,
10. CARPE MOMENTO,
11. GIVE MORE,
NOTES,
INDEX,
ABOUT THE AUTHOR,
Customer Reviews
