Relationship marketing is a facet of customer relationship management (CRM) that focuses on customer loyalty, interaction and long-term engagement. Marketing activities that are aimed at developing and managing trusting and long-term relationships with larger customers. According a survey acquiring a new customer can cost five times as much as retaining an existing customer. Marketing doesn't end after the customer purchases the product; rather, you attempt to obtain important feedback from your customers and build a continuous relationship through related products and services. This type of marketing differs from traditional marketing in that it’s not transnational, but rather relational. Methods used to attract customers include lots of marketing campaigns promoting the firm, its products, its brands and its special (pricing) offers.
How many times should your firm be communicating with clients in a given year?
Relationships are based on communication. Communicate with customers and blend online and offline communication. For best results, it's important to communicate frequently and vary the types of messages you send. Be consistent in your communication online, especially after you nab the sale. Always communicate with your customer like a HUMAN- BEING.
Networking, online and off, can be a powerful relationship marketing technique. The first step to building a network is to get involved in your community. When you put yourself in front of businesses and customers, you have the opportunity to leave a lasting, positive impression that may take your business's reputation far beyond anything paid advertising could offer. His not only helps your brand awareness, but also expands your potential customer base.
3. OFFER AND REWARDS
Context is the key here. Offer and reward programs work well for many types of businesses, from retail to cruise and travel. Though those are great, if you want to truly succeed at relationship marketing, and you should, you need to expand beyond the traditional types of programs. Whenever possible, offer in-kind rewards that remind your customers of your company and its products or services.
4. BUILD TRUST WITH YOUR CUSTOMERS
Organizations with great customer relationships are able to grow their businesses without gimmicks, fee cuts or special treatment. Customers don't buy from people they don't trust, with trust; you’ll have customers for life. Building this level of trust takes a lot of hard work and time.
Ask for feedback and welcome all comment. even the negative ones. Use customer feedback to fix issues and determine successes. Sometimes you will not respond directly but do so whenever you can. Don’t let a problem sit within the area like a large elephant. That drives customers away.