What is relationship marketing?
Providing differentiating value to the customer is very important, as there is a lot of competition today and sales and revenues are still important for the company. One of the experiences that can make a difference is relationship marketing, because it can help you improve the relationship with your potential customers.
Thus, relationship marketing is a tactic that helps to improve and consolidate the relationship with potential customers in order to build customer loyalty, as well as to improve the relationship with current customers and establish a long-term commitment.
Relationship marketing goals
The main goal is to improve customer satisfaction by improving customer service and getting to know the customer in order to be able to offer them what they want, that is, to create a consolidated relationship of trust.
With relationship marketing you want to achieve a long-term relationship, so it is very important to always take into account the customer’s opinion in order to establish a marketing strategy that is in line with what the customer needs and the goals they want to achieve.
We can establish that relationship marketing goals are:
– Be able to acquire new customers and convert as many leads as possible.
– Understand and manage the needs of existing customers in order to offer them the best solutions for their business.
– Monitor the company’s metrics and thus see how they are evolving.
Relationship marketing benefits
Relationship marketing always brings benefits and advantages to the company, because this type of strategy is focused solely on the customer, so all efforts come together to drive business growth.
The main benefits of relationship marketing are:
1
To convert leads into customers
Relationship marketing starts when the customer has the first contact with your company, from then on you have to interact with them in order to establish direct contact. This relationship has to be nurtured so that the relationship can eventually be transformed into a customer. We have to build trust from the outset and offer them one hundred per cent customised attention.
2
Turning the customer into a brand ambassador
A satisfied customer is the best way to make ourselves known, as they will speak positively about our company and thus we will achieve brand expansion. By creating a relationship of trust, the customer will recommend us to their environment and we will achieve a “win-win” action.
3
Increase sales
When a relationship of trust is established, the customer wants us to be part of their day-to-day life and relies on us for any action, so they will be able to increase their purchases and orders. For this reason it is important to know the customer’s needs and to be able to offer them what they need at all times.
4
Retaining existing customers
By getting to know the customer perfectly and being there for everything they need, you will improve trust with them. Once we do this, we will be able to generate long-lasting bonds and make them want to rely on us for any project, thus achieving satisfaction on both sides.
Stages of relationship marketing
It is important to know where you are in the process with each customer, so knowing the stages of the relationship marketing strategy will help you to be able to offer the best options to your customer.
We explain the stages of relationship marketing:
– Stage 1: Segment the database
The first stage is to have a quality database to be able to extract as much information as possible about potential and/or current customers, and in this way to segment the data in a customised manner and develop the necessary actions to create a greater impact.
When leads are segmented, messages can be tailored to each lead and a special communication can be offered to each of them. For this reason, it is important to clearly identify our target audience, as we will be able to connect more quickly with our target audience.
It is important to know what our customers are like, what products they buy, what type of communication they prefer, what aspects of our company stand out, among others, in order to establish a loyalty strategy for each group of customers.
– Stage 2: Customisation of messages
Depending on the interests of each customer segment, we have to adapt the way we communicate with them, as well as the type of content to be shared, the promotions, tone and design.
All these actions will increase interaction and engagement, thus improving the customer experience.
It should be borne in mind that each social network communicates in a different way and the audience that we will find is also changing. Instagram, Facebook, LinkedIn and Twitter are the main ones where interaction is the highest. However, it should be noted that not all digital platforms are suitable for all businesses.
– Stage 3: Maintain communication with the customer
Communication with the customer is a fundamental issue, which cannot be neglected at any time. We must always bear in mind their opinions, complaints, suggestions… the link must remain and thus be able to advise them on any action they are going to take.
Over time, if communication is constant, you will get to know the customer better and know what might be of interest to them. In addition, you will be able to offer them customised content and execute a marketing strategy according to their needs.
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