Advantage of relationship marketing and definition of relationship marketing

Advantage of relationship marketing and definition of relationship marketing

The concept of ‘Customer First’ is to pay proper attention to the requirement & ensure customer success by providing superior customer experience and meeting client and partner commitments.

What does relationship marketing really mean?

Relationship marketing gives not just the idea of getting a new customer but also work as per their goals and total customer satisfaction so that it can go beyond getting a new customer and nurturing as a long term relationship with your organization.

Relationship marketing aims its attraction efforts on:

    Prospects with a company which are able to get more results from your company & to your company
    Identifying opportunities that can really benefit from that purchase;
    Creating connections and providing good communication throughout the funnel;
    Keeping clients happy and engaged even after the sales cycle is over.

Bringing all of this into business language, universally understood by business people: many SaaS companies rely on a business model based on monthly subscriptions; others, that work with B2B services, depend on referral and relationship; and others that sell complex products require a different sales cycle, which is basically keeping direct contact with the decision-maker.
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In any market a big amount of business revenue comes from existing clients it can become by recursive revenue which can be either Operations Cost revenue, managed service revenue or revenue share also business revenue comes from referrals. To keep your clients happy is always the best approach to keep them with your organization and get more revenue.

A relationship marketing helps from acquisition to the retention of the customer which means it helps through the customer lifecycle and that is why it’s one of the most important parts of customer life cycle management. It always helps to reduce the cost of the solution and increase the Return of Investment (ROI) it also increases the conversions and engagement metrics.

At wowessays company views Relationship marketing as a brand’s ability to create an emotional connection with the consumer.

Well, customer experience has everything to do with your relationship marketing strategy. If you manage to acquire a prospect or client, you’re halfway there.

Customer experience is the main ingredient of your relationship marketing strategy and if you manage to acquire a client it means your food is half cooked already.

You should identify who your customers are and where they are, this is the only way to know your customer’s preferences, requirements, tastes and it creates big enough impact that your customer buys from you. That is why knowing your customer is the very first step before creating an attractive relationship marketing strategy.

Customers are always eager to acquire products, solutions & services from organizations which are able to generate or provide some kind of relationship in terms of values and beliefs. To be that organization it is very much needed to stay loyal to your core values. Any organization which sticks to its core value attracts the customer most, so always be at the top of it.

1. Relationship Marketing through Social Media

Due to increase penetration on data using social media becomes the most used communication channel with the public and customers. It is becoming the most trusted channel for relationship marketing. These social media channels are offering a more informal friendly environment and also the most efficient and fast communication.

On the other hand the most used social media channel ‘Facebook’ here you can create your company profile and instead of one team lead/ client as happens on LinkedIn here relationship marketing comes as building up the relation between company and lead. In all the cases social media relationship works as a great option to build relationship marketing and brings leads/ customer and company closer.

2. Email relationship

Email is an undoubted most trusted communication tool between any company and their contacts, it always very useful to build a relationship and apparently works as a relationship marketing tool. That’s the channel everyone wants to use as it generates new opportunities helps in talking to leads and converts them.

3. Relationship through Mobile

Nowadays people are spending most of the time on their cellphones. Everyone is using a mobile phone if you know how to deal with this communication channel you can make a success story by generating a lot of deals for your company or business.

You should ensure to make your single point of communication mobile supported, your website, blogs everything should be mobile optimized otherwise if your customer opens any page of your website on phone and it failed to open or took time, they probably won’t visit again.

What are the benefits of Relationship Marketing

You are not only a single service or product provider, but there are also many. Relationship marketing is the only thing that can differentiate you from others and this is an option to stand out from the competition and get your customer.

Last updated:2/12/2020 5:41:49 AM
Mike Austin

Mike Austin

I graduated from the University of Harvard with a degree in English. I'm a vocation blogger and write articles on various topics


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