Every Business Management Class Should Address the Issue of Client Relationships

Client relationships are what your business revolves around. You may think that your business is all about sales, but those sales are only increased through nurturing relationships with clients and potential clients. Thinking “sales” is short term thinking, whereas thinking “relationships” is long-term business-sustaining thinking.

If you have a retail store, keep in mind that accepting customer returns is an essential part of building that relationship. Yes, it does cost you money when a customer has paid for a purchase with a credit card and your company has already paid the merchant processing fee, and yes, it can certainly cost money to accept returned malfunctioning items that you suspect were sold in perfectly good condition, but keep in mind these essential facts about building relationships:

• It costs five times as much to bring a new customer into the store as it does to deal with a disgruntled one
• Having a good return policy helps to make the customer’s decision to buy
• Exceptions, such as “no returns on sale items” are perfectly reasonable, as long as they are posted.

Honoring a policy that allows customers to make returns of unused merchandise fairly is just one of the friendly aspects that makes one business more popular than another. Customers and clients pay attention to those things, and they help to define those all-important relationships.

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