Relationship Marketing can be as a strategy that aims to create/maintain a close relationship between a company and its customers. This aspect also involves all actions taken by the organization to keep its audience loyal and in constant interaction with the company.
To achieve this objective, a series of actions are to “enchant” the customer, to the point that loyalty is in this commercial relationship!
When this is well , the result is the emergence/growth of loyal customers who, because they believe and trust a company’s products and solutions so much, spontaneously begin to act as ‘advocates’ for the brand, recommending it to friends and acquaintances and even defending it in some situations, when necessary.
A good relationship can be the missing factor when deciding on a purchase
Making the customer think of your company when the moment of purchase arrives should be the central objective of every Marketing team.
However, there are also other advantages list to data to investing in this initiative! The first is maintaining a close relationship with the customer, even with those who have already made a purchase. In fact, the relationship cost of maintaining your customers is much lower to the cost to acquire new ones.
A second point is that this type of relationship tends to be an important factor when making decisions, and is therefore capable of generating not only more purchases from the same customer, but also new referrals, widely known as “word of mouth”.
What are the benefits of using Relationship Marketing?
Now that the impact of Relationship the world of knowlge and new Marketing is clearer, let’s look at 3 direct benefits that this strategy can provide .
Increase LTV
Anyone who works with subscription model solutions knows that LTV ( Lifetime Value ) is the metric that helps understand the importance of keeping the customer to the brand for as long as possible.
This is the only way to ensure that the whatsapp database philippines customer delivers a higher value than the amount spent on acquiring the customer. Therefore, the relationship strategy helps to increase the customer’s lifetime value, allowing the ticket to increase progressively over time.
Additionally, loyal customers are likely to become brand ‘ambassadors’, recommending products and services to friends and family, helping to reduce your CAC (Customer Acquisition Cost), among other things.
Reduced marketing and advertising costs
Spending on marketing and advertising to acquire new customers is proportional to relationship marketing, that is, in a normal scenario, the greater the customer retention, the less work on acquisition tends to be.
Additionally, as customers tell each other about a brand’s products and services, it’s common to see an organic boost in sales.
Simply put, companies that focus on this marketing model, most of the time, spend little or no money on paid media.
Greater alignment of communication around the customer
Organizations that emphasize Relationship Marketing are even more likely to have strong organizational alignment around the focus of delivering an exceptional customer experience and generating long-term satisfaction.
Tips on how to apply Relationship Marketing
Ready to get? Check out the points you should always take into consideration when making decisions:
Adjust your company culture
Before putting your Relationship Marketing plan into practice, it is essential that you develop among your employees the idea that good customer service is essential not only when closing contracts and purchases, but mainly after-sales.
This turning point is important for employees to understand the success status of customers, regardless of their role within the organization.
Ensuring good service even after the purchase is the first step towards building an excellent relationship with customers.
Identify your most important customers
When starting a Relationship Marketing program , it is very important that you have an database with information about your most important customers who cannot miss out on participating in this program.
Understanding which customers generate the most revenue, buy frequently, among other analysis points, should guide short, medium and long-term actions.
Strategy tips for using information
Contact customers to inform them about promotions that interest them, considering their previous purchases, as well as conducting satisfaction surveys, offering gifts and much more…
These are some recommendations for different moments in a company-to-consumer relationship! And last but not least, define benefits for customers who are more engaged (we created content about The Era of Customers so you know how to deal with customers who are more engaged). Depending on the situation, you can even create a scoring system, a very good tactic that triggers mental sales triggers such as belonging, loyalty and need.
