1. DEFINITION OF MARKETING SERIES
Angela Hausman, PhDhttp://hausmanmarketresearch.org

2. DEFINITION OF MARKETING SERIES
Relationship Marketing Fundamentals of Social Media Marketing
Angela Hausman, PhDhttp://hausmanmarketresearch.org
3. What is Relationship Marketing ?
Relationship marketing is a strategy designed to foster customer loyalty, interaction and long-term engagement. This customer relationship management (CRM) approach focuses more on customer retention than customer acquisition.*
*http://searchcrm.techtarget.com/definition/relationship-marketing
Angela Hausman, PhDhttp://hausmanmarketresearch.org
4. How is Relationship Marketing Different ?
Angela Hausman, PhDhttp://hausmanmarketresearch.org
5. How is Relationship Marketing Different ?
Long Term Focus
Angela Hausman, PhDhttp://hausmanmarketresearch.org
6. How is Relationship Marketing Different ?
Long Term Focus
Customer Satisfaction over Sales
Angela Hausman, PhDhttp://hausmanmarketresearch.org
7. How is Relationship Marketing Different ?
Long Term Focus
Customer Satisfaction over Sales
One on One Marketing
Angela Hausman, PhDhttp://hausmanmarketresearch.org
8. How is Relationship Marketing Different ?
Long Term Focus
Customer Satisfaction over Sales
One on One Marketing
Understanding Customers over Predicting
Angela Hausman, PhDhttp://hausmanmarketresearch.org
9. How is Relationship Marketing Different ?
Long Term Focus
Customer Satisfaction over Sales
One on One Marketing
Understanding Customers over Predicting
Retention
Angela Hausman, PhDhttp://hausmanmarketresearch.org
10. How is Relationship Marketing Different ?
Long Term Focus
Customer Satisfaction over Sales
One on One Marketing
Understanding Customers over Predicting
Retention
Data Driven
Angela Hausman, PhDhttp://hausmanmarketresearch.org
11. What Relationship Marketing is NOT.
Angela Hausman, PhDhttp://hausmanmarketresearch.org
12. What Relationship Marketing is NOT.
Data mining
Angela Hausman, PhDhttp://hausmanmarketresearch.org
13. What Relationship Marketing is NOT.
Data mining
Metrics
Angela Hausman, PhDhttp://hausmanmarketresearch.org
14. What Relationship Marketing is NOT.
Data mining
Metrics
Managing customers
Angela Hausman, PhDhttp://hausmanmarketresearch.org
15. Who Gains Value in RM ?
Angela Hausman, PhDhttp://hausmanmarketresearch.org
16. Who Gains Value in RM ?
Companies
Angela Hausman, PhDhttp://hausmanmarketresearch.org
17. Who Gains Value in RM ?
Companies
Gaining new customers is 5 times more expensive than retaining existing customers
Angela Hausman, PhDhttp://hausmanmarketresearch.org
18. Who Gains Value in RM ?
Companies
Gaining new customers is 5 times more expensive than retaining existing customers
A 5% increase in customer retention = 25-85% increase in profits (NPV) Reichheld and Sasser (1990)
Angela Hausman, PhDhttp://hausmanmarketresearch.org
19. Who Gains Value in RM ?
Companies
Gaining new customers is 5 times more expensive than retaining existing customers
A 5% increase in customer retention = 25-85% increase in profits (NPV) Reichheld and Sasser (1990)
Customers are more loyal
Angela Hausman, PhDhttp://hausmanmarketresearch.org
20. Who Gains Value in RM ?
Companies
Gaining new customers is 5 times more expensive than retaining existing customers
A 5% increase in customer retention = 25-85% increase in profits (NPV) Reichheld and Sasser (1990)
Customers are more loyal
Customers spread positive word of mouth
Angela Hausman, PhDhttp://hausmanmarketresearch.org
21. Who Gains Value in RM ?
Companies
Gaining new customers is 5 times more expensive than retaining existing customers
A 5% increase in customer retention = 25-85% increase in profits (NPV) Reichheld and Sasser (1990)
Customers are more loyal
Customers spread positive word of mouth
Often more expedient and effective when serving customers.
Angela Hausman, PhDhttp://hausmanmarketresearch.org
22. Who Gains Value in RM ?
Angela Hausman, PhDhttp://hausmanmarketresearch.org
23. Who Gains Value in RM ?
Customers
Angela Hausman, PhDhttp://hausmanmarketresearch.org
24. Who Gains Value in RM ?
Customers
Comfort
Angela Hausman, PhDhttp://hausmanmarketresearch.org
25. Who Gains Value in RM ?
Customers
Comfort
Sense of belonging/ community
Angela Hausman, PhDhttp://hausmanmarketresearch.org
26. Who Gains Value in RM ?
Customers
Comfort
Sense of belonging/ community
More effective
Angela Hausman, PhDhttp://hausmanmarketresearch.org
27. Relationship Marketing = Social Media Marketing
Angela Hausman, PhDhttp://hausmanmarketresearch.org
28. Relationship Marketing = Social Media Marketing
Require engagement
Angela Hausman, PhDhttp://hausmanmarketresearch.org
29. Relationship Marketing = Social Media Marketing
Require engagement
Focus on the customer
Angela Hausman, PhDhttp://hausmanmarketresearch.org
30. Relationship Marketing = Social Media Marketing
Require engagement
Focus on the customer
Collaborative
Angela Hausman, PhDhttp://hausmanmarketresearch.org
31. Relationship Marketing = Social Media Marketing
Require engagement
Focus on the customer
Collaborative
Integrates across marketing, sales, customer service, technology, operations management
Angela Hausman, PhDhttp://hausmanmarketresearch.org
32. Relationship Marketing = Social Media Marketing
Require engagement
Focus on the customer
Collaborative
Integrates across marketing, sales, customer service, technology, operations management
People, Processes,Technology
Angela Hausman, PhDhttp://hausmanmarketresearch.org
33. How Can This Help You Succeed ?
Angela Hausman, PhDhttp://hausmanmarketresearch.org
34. How Can This Help You Succeed ?
Structural Issues
Angela Hausman, PhDhttp://hausmanmarketresearch.org
35. How Can This Help You Succeed ?
Structural Issues
Cross functional teams
Angela Hausman, PhDhttp://hausmanmarketresearch.org
36. How Can This Help You Succeed ?
Structural Issues
Cross functional teams
Management support for customer focus
Angela Hausman, PhDhttp://hausmanmarketresearch.org
37. How Can This Help You Succeed ?
Structural Issues
Cross functional teams
Management support for customer focus
Total quality management
Angela Hausman, PhDhttp://hausmanmarketresearch.org
38. How Can This Help You Succeed ?
Structural Issues
Cross functional teams
Management support for customer focus
Total quality management
Employee empowerment
Angela Hausman, PhDhttp://hausmanmarketresearch.org
39. How Can This Help You Succeed ?
Structural Issues
Cross functional teams
Management support for customer focus
Total quality management
Employee empowerment
Employee satisfaction
Angela Hausman, PhDhttp://hausmanmarketresearch.org
40. How Can This Help You Succeed ?
Measurement Issues
Angela Hausman, PhDhttp://hausmanmarketresearch.org
41. How Can This Help You Succeed ?
Measurement Issues
Databases
Angela Hausman, PhDhttp://hausmanmarketresearch.org
42. How Can This Help You Succeed ?
Measurement Issues
Databases
Develop appropriate metrics
Angela Hausman, PhDhttp://hausmanmarketresearch.org
43. How Can This Help You Succeed ?
Measurement Issues
Databases
Develop appropriate metrics
Track retention
Angela Hausman, PhDhttp://hausmanmarketresearch.org
44. How Can This Help You Succeed ?
Measurement Issues
Databases
Develop appropriate metrics
Track retention
Model defection
Angela Hausman, PhDhttp://hausmanmarketresearch.org
45. How Can This Help You Succeed ?
Measurement Issues
Databases
Develop appropriate metrics
Track retention
Model defection
Customer Lifetime Value
Angela Hausman, PhDhttp://hausmanmarketresearch.org
46. More questions?
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