Mikaila Tutt

Relationship marketing, what is it and how do we do it? https://www.candymoose.com/single-post/2018/02/02/Relationship-marketing-what-is-it-and-how-dowe-do-it February 2, 2018 | Mikaila Moose Ever heard of relationship marketing? Yes? No? Relationship marketing is a marketing shift towards focusing on customer relationship management, this in turns means a focus on customer loyalty and longer term customer engagement. The ultimate goal of relationship marketing should be to create emotional and strong connections with your customer, in turn creating repeat purchases and ongoing business. When customers are happy and their needs have been satisfied, they are more likely to generate free word-of-mouth promotion for your business, and they can create meaningful leads for you. Existing customers require different strategies for retention. When you have a potential first time customer, the goal is to get them to purchase. Relationship marketing comes in when you're figuring out HOW to get that customer to buy from you again, and again, and again. Relationship marketing is never linked to just one product, or one service that your business provides. It focuses on the customer, and how you plan on maximizing the value within that relationship. This can include many strategies and tactics on how you plan to implement your relationship marketing strategy: - Technology is a great help in starting to maintain this trend. Create a Facebook Page or Group, where new customers and potential customers can join and engage with your business and your content. Send them messages on their birthday here. Technology will also allow you to store and track information on your customers that can optimize the relationship you have with them, for example: social media can tell you if 90% of your customers are mothers over 30, this will allow you to create a corporate gifting campaign that would be well suited and very much appreciated by your customer base. - Internal Procedures need to be looked at, customers won't usually leave their loyalty behind because they're unhappy about a product, but they will leave and find another supplier if their customer service experience hasn't been top notch. If this process is seamless, customers will tend to deal with issues in a positive manner, if they feel like they are getting service they feel that they deserve. - Create a culture of really listening to your customers, make time to discuss these topics in house or research suggestions or complains by customers. And follow up with them, if a customer has had a negative experience, make sure your internal processes allow this to be followed up, find out if the customer was happy with the solution given. - Your brand is so important. The identity that your brand gives is so important to both new and existing customers. If a customer can relate to your brand, if it resonates with them, they are more likely to remember it, and to make referrals. Relationship marketing can be adapted to almost any industry, if you're in a corporate environment, perhaps consider giving your customers free educational content once in a while, they'll appreciate the informative nature of your communication. Speaking of communication, do it fairly often. Don't send out one mailer in February, and then another in August. Your customers won't keep with the information. However, if you do regular and relevant content to them, teach them something, give them a sales promotion that will make them excited, or simply just check in with them and say hi. However, don't be that guy who sends them seven emails in a month with every, single new product that comes in the door. Speaking of new products, know your customers well enough. If a customer already owns a product or a service, that could potentially be maximized by a new offering or product that comes in, send them a personalised email and tell them how they could benefit, don't be pushy, but let them know that you remember what they purchased last time and how you can help them this time, they will be impressed that you remembered first of all, and amazed that you still have in mind how you can help them further. Remember, a big part of relationship marketing is knowing your customer. You can't decide that you're going to go this route, and not put that work in. Get to know them, store that information and make them feel important and appreciated as much as you can.