What is relationship marketing? Relationship marketing is a strategy designed to foster customer loyalty, interaction and long-term engagement. It is designed to develop strong connections with customers by providing them with information directly suited to their needs and interests and by promoting open communication.
The idea behind relationship marketing is to create customer loyalty. You want to develop engagement and long-term relationships with your current customers. It’s a big picture marketing idea. This method differs from your short-term goals, such as single sales or customer-acquisition cost.
Relationship marketing is all about the customers. With that, you need to be very thankful to your customers through a social media posting or with a surprise gift card. Create customer advocacy or brand advocacy programs to reward customers who provide word-of-mouth advertising on a brand’s behalf. Offer discounts or bonuses to long-time or repeat customers.
Once you’ve developed your marketing strategy, there is a “Seven P Formula” you should use to continually to evaluate and reevaluate your business activities. These seven are: product, price, promotion, place, packaging, positioning and people.
The you have the 4Cs of marketing which replace the 4Ps of the marketing mix: Consumer wants and needs; Cost to satisfy; Convenience to buy and Communication The 4Cs for marketing communications: Clarity; Credibility; Consistency and Competitiveness.
To retain current customers, businesses engage in relationship marketing strategies to continually attract repeat business. While both types of customer must be acknowledged and respected, the goal, ultimately, is to turn every new customer into a returning customer.
An easier way to think about it is this: Imagine you’ve worked hard
for new customers. How do you keep them super happy, and wanting
to come back? And how do you get them to tell all their friends about you? That’s relationship marketing in a nutshell. It’s building the relationship between you and the customer.
If you want assistance with customer marketing, contact, https://classycommunications.net/ for assistance.