Relationships Marketing Strategies

This article will serve as an introduction to the concept of relationship marketing, and a primer on how to effectively build strong relationships with two distinct groups. The first group we’ll look at is potential customers, next we’ll talk about keeping the relationship strong with existing customers or clients. Are you ready to see things in a new light?

First of all, what is Relationship Marketing?

The term relationship marketing means, essentially, that you’re putting the relationship ahead of making a profit. Granted, all businesses need to make a profit, but the idea is that if you treat your clients and customers properly it will pay off substantially better in the long term than trying to “hit and run” and make a quick buck. It’s a long term approach based on bringing an incredible amount of value to the table, and in turn you’ll reap much greater benefits over time.

Relationship Marketing to Potential Customers

Customers and clients choose who they decide to do business with for a number of reasons. They want value, but they also want to know that they’re dealing with a professional who knows the ins and outs of what they’re doing. This will vary by field, but we’ll speak in generalities since most of this applies universally across the board. So, how can you position yourself as an authority in your industry to potential customers? One of the best modern methods is through inbound marketing. Examples of inbound marketing include putting out content online like videos, blog posts, and creating a presence on social media.

Some of these ideas are difficult to grasp for the older generation of business owners, but the future is here and it’s all about giving before you expect to receive. When there’s an endless amount of free content online, you’ve got to differentiate yourself. The DIY movement is growing and people are finding ways to fix a lot of problems themselves, and businesses shouldn’t try to fight that. Instead, embrace it! As an example, if you have a computer repair shop, you should create videos and blog posts telling your customers how to fix common issues, how to deal with the latest viruses, and those types of things. It might seem counterproductive at first, but if someone is looking for that information they’re going to find it either way so they may as well find it from you. This will earn you brownie points with potential customers, so that the next time they need help they’ll know who to call. This is how to compete in the changing landscape. It’s not about trying to squeeze out every penny; it’s about bringing value to the table and proving yourself first.

Relationship Marketing to Existing Customers

Customer service is king. People have been saying this for decades and decades, but there was a point in the 80s onwards that it seems to have been forgotten. Nowadays, it’s so easy for unhappy customers to post unfavorable reviews online that can haunt you for years to come. Back in the day, companies would take advantage of customers and not really have to worry about repercussions. Worst case, that person would tell some of their friends. Nowadays, however, one bad PR move can result in thousands or even millions of people hearing about how you dropped the ball.  On that same note, when you go above and beyond for a customer you can bet that people will hear about it. Then, they’ll find the great content you’ve been putting out as we discussed in the previous paragraph, and voila – you’ve earned more new prospects simply by handling things in a professional, honest way. More so than ever, businesses are being rewarded for doing the right thing. That’s exactly how it should be!

Final Thoughts on Relationship Marketing

It may sound surprising that when you put relationships ahead of immediate profits, you’ll stand to gain a lot more in the long term – but it’s true and it makes perfect sense. It’s easier to keep existing customers happy than to acquire new ones, and it’s  easier to acquire new customers when you’re taking the time to demonstrate that you truly know what you’re doing when it comes to your field or industry. There’s a trend that retailers have been calling the shots for a while, but the consumers are starting to take back the power and they’re negotiating with their wallets. Will you be there to make a deal when the time comes?

About the author

Mary Ann Keeling is a freelance writer and business consultant who loves sharing her insights on the latest business opportunities. She also enjoys and takes pride in delivering leading social media campaigns.

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
CAPTCHA
This question is for preventing automated spam submissions.