As the name implies, relationship marketing is a field focused on the relationship between the company and potential customers, in addition to those already signed.
Treating consumers well and creating solidity in this relationship is essential to achieve good results; how they are treated directly interferes with the purchase decision.
Want to know more about it? Understand how to do relationship marketing in practice. So stay with us! In this post, we will teach you how to build a relationship with your followers using, in particular, social media.
Table of Contents
What Is Relationship Marketing?
Relationship marketing is a set of actions carried out by a company for its customers and prospects. We know that the quality of a company’s products and services is essential to develop the business and to strengthen the brand.
However, it’s no use having quality products if you don’t have anyone to consume — and to captivate these people, you need to understand and relate to them.
In this new era, the quality of products and services is the minimum necessary for a brand’s survival in the market. And building a solid relationship becomes as important as generating leads, nurturing, retaining, and building customer loyalty.
In many businesses, the relationship with the customer is only developed at the time of sale, when good service makes the difference. But nowadays, this simple attitude does not demonstrate and retain customers, and it is necessary to invest in relationship marketing.
It was thinking precisely about the consumer x company relationship that this aspect of marketing was created. This type of strategy considers the actions that must be taken to bring the public closer to the company, making communication more effective and building a bond with the consumer.
What Is Relationship Marketing For?
The purpose of relationship marketing is to win prospects through a good relationship, making them loyal to the brand and great followers of the company’s services and retaining existing customers.
In addition to this consumer always returning to buy with you, the chances of him being a disseminator of your company are significant.
He is the one who will recommend your services to other people he knows, will make good evaluations of your brand on the internet, and will become a steadfast defender of the company.
Discover More Advantages Of Relationship Marketing
If everything we’ve discussed has yet to convince you about the importance of relationship marketing for a company, see the main advantages of implementing this strategy.
Reduce Marketing And Advertising Costs
Many professionals still need to learn, but investing in customer retention is cheaper than winning new ones since working on loyalty reduces marketing and advertising costs.
Fix Bugs In Products And Services
You might not notice, but your customers are the people who will most see changes and issues with your product. And listening to what they have to say is an excellent opportunity to correct mistakes.
So, take advantage of feedback and communication channels with your audience and use the flaws pointed out to promote improvements.
When you create a strong connection between brand and customer, you gain the trust of that person who starts to frequent your places, recommend your brand to friends, defend your values , and spontaneously become part of it. #brandlover
Increase Customer Satisfaction
Relationship marketing is linked to customer satisfaction; after all, you provide a unique experience with a humanized and differentiated service, and the tendency is to make the customer even happier with your service.
Increase Lifetime Value (LTV)
You can also increase customer lifecycle or Lifetime Value by improving customer satisfaction with the brand. This means that the customer spends more time “at home” consuming your products or signs a more extended contract, increasing the average customer revenue.
Relationship Marketing Actions
Now that you understand the concept of relationship marketing, what it is, what it is for, and what strategies you should take into account to create it, it’s time to learn about the actions involved in this strategy!
It can be through accumulating points according to the number of purchases and offering exclusive discounts or gifts.
This is a way to demonstrate your customers’ importance to your business and reward them for being loyal.
Email Marketing Campaigns
This action serves several stages of the relationship with the customer. It can help disseminate relevant content, information, tips, and memories on important dates (such as birthdays), exclusive promotions, bonuses, and request returns on services provided.
Carry out satisfaction surveys, talk to your client, ask for suggestions and, above all, provide conditions for his business to work well based on the solution you offer him: it needs to be a success for his company to be too.