What is Relationship Marketing
Relationship marketing is a strategy with the objective to foster customer loyalty and long-term engagement via the interaction. Other terms related are direct marketing, one2one, interactive marketing and CRM. There is difference in-between these terms but they all search for the interaction with the customer. One contact, one personalization, one interaction required. That is what we want to achieve with a relationship marketing approach. Relationship Marketing is focusing more on “how you do it” than through what channel. It must have an idea o “wanting” to create a relationship. It’s the “will” behind the action that defines if its relationship marketing.
It is about going from mass marketing, to segment marketing to the one2one marketing.
Relationship marketing is a “philosophy” that needs to be the base o a company. If the idea is not part of the company philosophy, you only turn your activities into direct marketing pure. Its a way to “search for your identification”.
- identify customer
- create loyalty
- Store the info in a database to extract KPIs with the purpose to create a relation and negotiate
IDENTITY THE CUSTOMER
How do you identify the customer? Press, magazine, calling, internet
HOW DO YOU CAPTURE
how do you capture the customer? Press, media, promotion, lead generation. The key here is to identify the driver of your business. A driver that is related to your product or service (giving away items is not a driver, is a short term activity).
The important thing is to focus on what purpose you have with your communication.
The first thing to do is to define who you want to capture. Once you have the profile you plan how to approach, you se what to say and finally surprise.
If you don’t have a database, you need to create it (MGM = member get member)
HOW TO CREATE LOYALTY
There are many ways to create the relationship, but the most important thing is to make sure it meets the demands of the customers. You can give away products, provide promotions, highlight the person, introduce the customers in the development of the products. There are tools that can be used to understand how people relate to situations, offerings etc One example is http://thedma.org/.
To create loyalty you need to offer something that is irresistable.
how to build a relationship
This is done via “the tangible” product and “the soft part”. The most important thing is that every relationship action must be measurable and generate profit.