A review of Relationship Marketing

What are the benefits of using relationship marketing?

Relationship marketing is a form of customer relationship management which focuses mostly on customer loyalty and long-term customer engagement as opposed to short-term goals such as customer acquisition or individual sales. The goal of customer relationship marketing will be to create a stronger and more emotional customer connection with the brand which can help in on-going business and mouth-to-mouth promotion for generating better sales.

Relationship Marketing or Customer Relationship Management stands in contrast to other traditional transaction marketing approaches that focus solely on increasing the number of individual sales. In a transaction model, the focus is on the return of customer acquisition cost which might be insufficient. The customers might be convinced to select different brands each time because not having a strong relationship marketing strategy might lead to the customers not coming back to your brand in the future. The organizations try to combine different elements of both relationships as well as transactional marketing which make it possible to come to a conclusion that relationship marketing is definitely beginning to play a massive role for a lot of companies.

What are the benefits of using relationship marketing?

  • Helps deliver a consistent customer experience

By focusing more on customer relationships and becoming customer-centric, the companies can align their touchpoints as well as work across the organization in order to meet the customer needs and improve the customer satisfaction.

 

  • Allowing the company to gather customer feedback

The companies can build strong relationships with the customers by improving the communications and emphasize more on gathering feedbacks so that they are able to analyse and make better business decisions.

 

  • Improve customer profitability

The customers who are loyal to your brand should be rewarded. In fact, the companies these days are trying to put customer experience ahead of cost whenever making purchasing decisions.

 

 

 

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