What is relationship marketing and why should you apply it?
Posted: Sun Dec 22, 2024 6:50 am
Relationship marketing is the use of marketing strategies focused on cultivating meaningful relationships with customers to ensure their long-term satisfaction and loyalty.
According to the AMA (American Marketing Association), relational marketing has the objective ofDevelop and manage long-term relationships of trust with customers, distributors, suppliers, or other parties in the marketing environment.
To cultivate meaningful relationships, relationship marketing does not focus on selling a product or creating an alliance, but rather on making the customer or supplier feel comfortable with their purchase or sale, so that, in the future, they want to repeat the action and maintain a sustainable relationship over time.
Customer-focused relationship marketing
In relation to customer-focused relational marketing , it is aboutconnect with users by knowing what type of content adds value to them;what motivates them to place their trust and admiration in a company; how they like to be served; and what are the needs they want to satisfy.
It turns out that the experiences your customers have influence their purchasing decisions. If these are positive, it is very likely that the person will feel comfortable with their choice and want to buy again.
On the other hand, if your customer has a negative experience, he will not want to buy the product again; he prefers to avoid the bad moment he experienced; that is why,when you offer a positive relationship, with intentions for it to be long term,You are ensuring that customers come back to you.
In this context, through a focus on relational marketing, strategies are created to generate trust in prospects, retain existing customers, and provide an exceptional shopping experience at all times.
A fundamental action within relational marketing strategies is the purchase or acquisition taiwan number example of a customer relationship management system or software (CRM) in which all the contact data of a company's prospects and customers are stored, as well as their interactions with it, through messages and calls.
Why apply relational marketing in your company?
Below, learn some reasons why you should implement relational marketing in your company:
It is cheaper to retain a buyer than to attract one
Did you know that attracting new customers generates an investment 6 or 7 times higher than maintaining existing ones?
It is well known that attracting new customers is an important goal, and, although this may be a priority for some companies, the complexity that sometimes leads to studying the characteristics of a new incoming audience, and making them move through the sales funnel, can take more time and require more resources than you think. In addition, you may find that you attract people who have no similarity with your ideal buyer and, therefore, they never become customers.
Therefore, it is better to cultivate a better relationship with existing customers:you reduce your costs and get more loyal customers.
Improve your customers' shopping experience
Having the information you need about your prospects and customers stored in a CRM system allows you to improve your customers' purchasing experience by offering them content, products and/or services according to their interests.
A better shopping experience is one in which the prospect or customer receives the correct information, at the time they request it and through the appropriate messages and dealings.It is also the place where one feels safe and confident to communicate one's doubts and opinions.
Through relational marketing , this type of purchasing process can be used more frequently, since to establish a lasting relationship, you have to start by providing positive experiences.
You build promoters of your brand
Rather than having paid influencers promote your brand, it is much more assertive to have loyal customers who recommend your products and/or services. People today do not promote something they do not know, much less something they do not approve of.
In this sense, when you have relationships of trust with your clients,You get satisfied buyers who become important promoters of your brand.
Are they free promoters? No! These are built with a lot of effort and dedication through your strategies to strengthen customer relationships; however, recommendations from your buyers can be more profitable than paying a brand ambassador and their testimony is more authentic than any other.
Ultimately, the purpose of relationship marketing is to create meaningful, long-lasting relationships with customers that bring benefits to your business. To do this, you need to gain the trust of your prospects and customers by learning more about them and always keeping in touch.
According to the AMA (American Marketing Association), relational marketing has the objective ofDevelop and manage long-term relationships of trust with customers, distributors, suppliers, or other parties in the marketing environment.
To cultivate meaningful relationships, relationship marketing does not focus on selling a product or creating an alliance, but rather on making the customer or supplier feel comfortable with their purchase or sale, so that, in the future, they want to repeat the action and maintain a sustainable relationship over time.
Customer-focused relationship marketing
In relation to customer-focused relational marketing , it is aboutconnect with users by knowing what type of content adds value to them;what motivates them to place their trust and admiration in a company; how they like to be served; and what are the needs they want to satisfy.
It turns out that the experiences your customers have influence their purchasing decisions. If these are positive, it is very likely that the person will feel comfortable with their choice and want to buy again.
On the other hand, if your customer has a negative experience, he will not want to buy the product again; he prefers to avoid the bad moment he experienced; that is why,when you offer a positive relationship, with intentions for it to be long term,You are ensuring that customers come back to you.
In this context, through a focus on relational marketing, strategies are created to generate trust in prospects, retain existing customers, and provide an exceptional shopping experience at all times.
A fundamental action within relational marketing strategies is the purchase or acquisition taiwan number example of a customer relationship management system or software (CRM) in which all the contact data of a company's prospects and customers are stored, as well as their interactions with it, through messages and calls.
Why apply relational marketing in your company?
Below, learn some reasons why you should implement relational marketing in your company:
It is cheaper to retain a buyer than to attract one
Did you know that attracting new customers generates an investment 6 or 7 times higher than maintaining existing ones?
It is well known that attracting new customers is an important goal, and, although this may be a priority for some companies, the complexity that sometimes leads to studying the characteristics of a new incoming audience, and making them move through the sales funnel, can take more time and require more resources than you think. In addition, you may find that you attract people who have no similarity with your ideal buyer and, therefore, they never become customers.
Therefore, it is better to cultivate a better relationship with existing customers:you reduce your costs and get more loyal customers.
Improve your customers' shopping experience
Having the information you need about your prospects and customers stored in a CRM system allows you to improve your customers' purchasing experience by offering them content, products and/or services according to their interests.
A better shopping experience is one in which the prospect or customer receives the correct information, at the time they request it and through the appropriate messages and dealings.It is also the place where one feels safe and confident to communicate one's doubts and opinions.
Through relational marketing , this type of purchasing process can be used more frequently, since to establish a lasting relationship, you have to start by providing positive experiences.
You build promoters of your brand
Rather than having paid influencers promote your brand, it is much more assertive to have loyal customers who recommend your products and/or services. People today do not promote something they do not know, much less something they do not approve of.
In this sense, when you have relationships of trust with your clients,You get satisfied buyers who become important promoters of your brand.
Are they free promoters? No! These are built with a lot of effort and dedication through your strategies to strengthen customer relationships; however, recommendations from your buyers can be more profitable than paying a brand ambassador and their testimony is more authentic than any other.
Ultimately, the purpose of relationship marketing is to create meaningful, long-lasting relationships with customers that bring benefits to your business. To do this, you need to gain the trust of your prospects and customers by learning more about them and always keeping in touch.