widenet u: relationship marketing
TRANSCRIPT
Relationship Marketing
Relationship Marketingfocus on satisfaction, not sales
What is Relationship Marketing?
Relationship Marketingfocus on satisfaction, not sales
What is Relationship Marketing?
A form of marketing developed specifically to emphasize customer retention and satisfaction, rather than only focusing on sales.
Relationship Marketingfocus on satisfaction, not sales
What is Relationship Marketing?
It doesn’t exclude other channels (email and content marketing) in favor social media, but simply changes the intention.
Relationship Marketingfocus on satisfaction, not sales
Transactional vs Relationship
Transactional is direct sales or “interruption” marketing. Intrusive and unavoidable.
Relationship Marketingfocus on satisfaction, not sales
Transactional vs Relationship
Relationship creates increased word-of-mouth activity, repeat business, and a willingness on the customer’s part to provide information to the organization.
Relationship Marketingfocus on satisfaction, not sales
The Truth…
The relationship marketing process has nothing to do with engagement and everything to do with being practically useful for your business and customers.
Fact: Customers do not want to be engaged!
Relationship Marketingfocus on satisfaction, not sales
How To Implement
Customer Service1Content Marketing2Social Media Marketing3Email Marketing4
Relationship Marketingfocus on satisfaction, not sales
Customer Service
Ingrain Customer Service Into Your Culture1Take time to invest in your employees to ensure they share a common set of high standards for service.
Relationship Marketingfocus on satisfaction, not sales
Customer Service
Use a comprehensive CRM2A CRM helps your team keep up with everyone you need to stay in contact with and can enable you to create a real relationship in the process.
Relationship Marketingfocus on satisfaction, not sales
Content Marketing
You Are What You Publish!1Show your audience why they should do things, what things they could be doing, and how they should do them.
Relationship Marketingfocus on satisfaction, not sales
Content Marketing
Start by creating content for support.2Using content as a form of support is marketing. Free resources, help documentation, and webinars can help market to customers as long as they’re functional, comprehensible, usable, enjoyable, or motivational.
Relationship Marketingfocus on satisfaction, not sales
Content Marketing
They’ll thank you for coming to your site!3Great content that solves problems is sharable, likeable, and a reusable resource available for future reference.
Relationship Marketingfocus on satisfaction, not sales
Social Media Marketing
Build relationships & trust.1Building relationships through social media is about knowing who your audience is and creating a social media presence that reflects what they want to see from you. If you’ve earned the right to appear in their streams, keep it by giving them content that they actually want.
Relationship Marketingfocus on satisfaction, not sales
Email Marketing
Email Drip Campaigns1A way to automate the “touch” throughout the sales and retention processes.
Relationship Marketingfocus on satisfaction, not sales
But does it really work?
There’s less “dating around” with the competition.1Satisfied customers are statistically less likely to switch and are less price-sensitive.
Relationship Marketingfocus on satisfaction, not sales
But does it really work?
It’s the foundation of word of mouth.2Strong relationships are essential to a high net promoter score, or, in other words, the chance that a customer will happily refer your business to a friend.
Relationship Marketingfocus on satisfaction, not sales
But does it really work?
Your “regulars” are your rock. 3Consumer data reveals that regular customers spend more and are less expensive to maintain.
Relationship Marketingfocus on satisfaction, not sales
But does it really work?
Expansion becomes easier.4Longstanding customers are much more likely to purchase your ancillary products and embrace new ones.
Relationship Marketingfocus on satisfaction, not sales
But does it really work?
You avoid the cost of acquisition.5The famous Bain & Company analysis confirmed it is 6 to 7 times more expensive to acquire a new customer than to keep a current one.
Relationship Marketingfocus on satisfaction, not sales
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