Building stakeholder relationships is key to success in today's connected business world.

At trumpet, we've seen how good relationships with B2B stakeholders can make or break important deals and help businesses grow.

Managing stakeholder relationships well is more than just talking – it needs a smart approach to:

• Figure out who the key players are
• Get what they need
• Work together in meaningful ways

In this article, we'll look at tried-and-true ways to build and keep strong stakeholder relationships.

We'll talk about why it's important to identify and understand stakeholders, give tips for clear communication, and discuss how to build trust.

We'll also explore ways to get people more involved and working together, including how to use digital sales rooms to work closely with stakeholders.

By the end, you'll have practical ideas to improve your stakeholder relationships and get better results for your deals and company.

Understand your stakeholders

Let's talk about why it's so important for you to understand the people involved in your sales process. It's not just about closing deals - it's about building real, meaningful relationships.

First things first, you need to figure out who these key players are. Think about everyone who has a say in whether your deal goes through or not. This could include:

• The big bosses (C-suite)

• Department heads

• The folks in procurement

• The legal team

• The operations team

Once you've got your list, it's time for you to dig a little deeper. You want to understand what makes each of these people tick - what are their goals, what influences them, and how might your work impact them?

You can use some handy tools like stakeholder mapping to help you visualise all these relationships. It's like creating a map of who's who in your deal.

This helps you figure out where to focus your efforts and how to best connect with each person.

By taking the time to really get to know each stakeholder - their unique viewpoint and what they need - you can tailor how you talk to them and work with them.

Remember, it's not a one-size-fits-all.

Communicate effectively

Great communication is the secret sauce for building awesome relationships with stakeholders!

Make sure you’re speaking their language by tailoring your messages to what each stakeholder likes and needs.

Active listening super important – it shows you really care about what they have to say and helps you see things from their point of view. Try to be open and upfront with your updates, keeping everyone in the loop before any hiccups pop up.

This is how we build a strong foundation of trust and credibility over time.

Aim to be as reliable as clockwork with how often you communicate and what you share.

This friendly approach helps everyone know what to expect, smooths out any bumps in the road, and creates a warm, collaborative atmosphere.

Build trust and credibility

Getting folks to trust you is super important for keeping your stakeholders happy.

Just be real with them, even when you mess up or hit a bump in the road.

If you stick to your word every single time, your stakeholders will see that your company's got their back and means business.

Don't just sit around waiting for problems to pop up - jump in there and take charge!

This shows everyone you know what you're doing and makes your deal or partnerships rock-solid.

Being straight-up and open like this usually leads to longer lasting relationships, and lowers your churn rate.

A great way to build transparent and honest relationships with your buyers is through the use of Mutual Action Plans. Why are they so helpful?

• MAPs provide complete transparency on the journey ahead

• Everyone involved in the deal is aligned on next steps

• Holds the seller and the buying team accountable for their roles in the deal

Foster collaboration and engagement

Getting everyone on the same page is key to building solid relationships with your stakeholders.

Try to get everyone involved by bringing in the right people throughout the whole deal process.

This way, you'll get a bunch of different viewpoints and know-how, leading to smarter choices and better results.

Try out some team-building tricks like brainstorming sessions, interactive sales rooms, and action plans to figure out what everyone needs and make them feel like they're part of the team.

By giving your main supporter a boost through training and skill-building, you'll make sure they've got what it takes to sell you to the big decision-makers.

We also set up easy ways to chat and keep everyone in the loop with regular updates.

So, what are some positive ways to team up with your buyers?

• Make it easy for them to access all your sales content in one centralised space
• Share next steps in Mutual Action Plans to stay aligned, and accountable
• Set up live chat experiences to have off quicker more meaningful conversations (check out how our customer Privasee actually closed a deal using our live chat feature!)

👉 Check out an interactive Mutual Action Plan in a Digital Sales Room

Collaborating with stakeholders in digital sales rooms

Digital sales rooms like trumpet are revolutionising how sellers collaborate with their B2B stakeholders.

These virtual spaces offer a centralised platform where you can effortlessly share presentations, proposals, videos, pricing, and more, all in one convenient link.

This approach simplifies engagement, especially considering the increasing number of stakeholders involved in buying decisions in 2024.

Discover hidden stakeholders through email gated Pods and interact with the entire buying committee in one place.

Real-time collaboration features like commenting, live chat, and tagging people on pages have replaced complicated and lengthy email threads, ensuring that everyone stays informed and engaged throughout the entire sales process.

By streamlining communication and providing a connected buying experience, digital sales rooms help us foster stronger stakeholder relationships and drive better outcomes.

Conclusion

To wrap up, the tips and strategies shared here provide a solid foundation to enhance your stakeholder relations.

By putting these ideas into action, you can drive better outcomes for your deals and partnerships.

Remember, strong stakeholder relationships aren't built overnight – it requires ongoing effort, clear communication, and a genuine commitment to collaboration.

With these tools in hand, you're well-equipped to start building stronger, more productive partnerships with your stakeholders.

So go ahead and give it a try! You've got this!