How to Improve Your Relationship Marketing | Social Media Today
In book: Trends and Innovations in Marketing Information Systems, Chapter: The Rise of Relationship Marketing with Social Media, Publisher: Hershey, PA. Social CRM tools go further by helping to extend relationship marketing into the social media sphere, allowing companies to more easily. Social media is not just part of a marketing system, but is the underpinning of a new corporate marketing system that is violently erupting with a.
Why relationship marketing is so important Imagine if you stopped getting repeat customers.
Welcome Social-Relationship Marketing | DigitalNext - Ad Age
No, imagine if the customers who did come back never shared you with friends. So to give a quick recap. The business, however, doesn't know how the customers feel. Sometimes you have to pull yourself back and filter your knowledge of your product. A simple way to do this is pretending to be the customer yourself by imagining you were unfamiliar with your product. This might make it easier for you to remember to treat them how you want to be treated.
Use this logic to help you sympathize with the customer, and then provide them solutions. This will result in a much better outcome, and can help you grow your relationship with that customer. This can make handling a difficult customer situation, a little easier.
Here are a few items to add to your checklist. Understand why the customer is unhappy, and what they want. Listening is truly the quickest way to turn around a negative customer experience.
This works really well when you also restate their problem. If the problem was a misunderstanding on their end, figure out a solution to help them, rather than point fingers.
No one likes waiting around for their issues to be resolved one unmanaged complaint can turn into a handful of angry customers. Even after a resolution is made, be sure to ask right then and there if there's anything else you can do. Or, if permitting, respond a few days after the fact, as a follow-up. So, when training your team, use a storytelling strategy. This will enable them to see a scenario play out.
You may not realize the power of storytelling and mindset, but the truth is, you can change a mindset through storytelling. Stories can help influence and change the way your team thinks and acts. To make your story a true educational tool, you should try to weave in a few elements. A simple framework Be able to thread common daily elements Ensure the story is relevant to your company Involve employees when applicable Example: The manage of Beans Coffee Shop is telling a story to a new employee.
She then explains the story of a customer named Katy who came in to grab a cup of coffee. The manager then explains that the best and easiest solution to this is to give Katy an apology and a new coffee, at the least. To go above and beyond, he gave Katy a free treat to go with her coffee and even offered a refund. And to top that off, Robert also gave Katy a coupon for a free coffee during her next visit.
The manager says, as you can see, a mistake was made, but because Robert apologized and went above and beyond, Katy is still a regular customer.Relationship Marketing - What's this all about?
Robert seeded a relationship with Katy, and because of that Katy has since brought in new customers for us because she has a funny anecdote to remember.
Imagine you only have one channel An easy way to get into the mindset of relationship marketing is to imagine that you can no longer talk to new customers at all. All you have to grow and maintain your business is by working with existing customers. No other channels are allowed - ZERO. How do you make customers love you so they bring their friends? Make your customers love you. Practical strategies and ideas you can use Providing good customer service is important for every business.
The first step in fixing this situation is to apologize. Secondly, make a new coffee.
That's basic customer service; seeing the problem, apologizing and fixing. Robert, however, took things above and beyond what Katy expected. Remember relationship marketing is really just about helping the customer. So listen to their concerns, what they like, and what they want to be changed.
Be Generous and Opportunistic Be opportunistic about when to give away things - discounts, freebies, etc. With finite resources, is it better to attract new customers or try to hold onto the ones they already have?
No company can survive and grow if they are not constantly adding to their customer base. Many companies separate the two functions and dedicate different areas of their marketing department to work on one or the other. New customers are considered transactional because the goal is to get them to buy, while existing customers require different strategies. To retain current customers, businsses engage in relationship marketing strategies to continually attract repeat business.
While both types of customer must be acknowledged and respected, the goal, ultimately, is to turn every new customer into a returning customer.
What is Relationship Marketing? Relationship marketing is about forming long-term relationships with customers. Rather than trying to encourage a one-time sale, relationship marketing tries to foster customer loyalty by providing exemplary products and services. This is different than most normal advertising practices that focus on a single transaction; watch ad A and buy product B.
Relationship marketing, by contrast, is usually not linked to a single product or offer. It involves a company refining the way they do business in order to maximize the value of that relationship for the customer. Respect that feedback and incorporate it into the company's business practices.
Relationship Marketing | What is Relationship Marketing?
Use any and all social media outlets to connect with customers. Have effective customer monitoring technologies in place.
Use clear policies to dictate how all company employees should interact with customers in both positive and negative situations. Leverage the value of warm leads — customers who have already expressed an interest in the company. Have a comprehensive customer relationship management strategy.
Conduct regular training sessions for all members of staff. Stay on the cutting edge of product offerings. Do not sacrifice quality for innovativeness. Maintain a high customer satisfaction rate in all areas of the company. Make an effort to inform customers how much they are appreciated.
Relationship marketing mainly involves the improvement of internal operations. Many customers leave a company not because they didn't like the product, but because they were frustrated with the customer service. If a business streamlines its internal operations to satisfy all service needs of their customers, customers will be happier even in the face of product problems.
How to Improve Your Relationship Marketing
Technology also plays an important role in relationship marketing. The Internet has made it easier for companies to track, store, analyze and then utilize vast amounts of information about customers.
Customers are offered personalized ads, special deals, and expedited service as a token of appreciation for their loyalty. Social media sites allow business to engage their customers in an informal and ongoing way.
In the past, it would have been impossible to keep useful records about every single client, but technology makes it easy for companies to automate their marketing efforts. See also Analytical Marketing Branding is the final component of relationship marketing. A company can form a long-term relationship with a client if that client feels like the brand they purchase reflects who they are or who they want to be. Customers are less inclined to switch to a different brand if they think that switch makes a statement about their identity.
Who Employs Relationship Marketing?
Welcome Social-Relationship Marketing
Many types of companies have something to gain from developing long-term relationships with their customers. Smaller businesses often serve a steady stream of regulars, and make little effort to draw in new customers.
Imagine a small restaurant that sees a steady stream of business from the morning commute.