RELATIONSHIP MARKETING: KEY TO SUCCESS OF SMALL BUSINESS

Business is all about Relationship

If you want to increase customer loyalty and get people excited about your business?

The easiest way to ensure that happens is to make every interaction a memorable experience.

Connect deeply with your customer & generate trust and attention.

What is Relationship Marketing

Relationship marketing is about establishing strong emotional & long lasting relationship between you, the brand and consumer that focuses on customer loyalty and long-term customer engagement rather than short-term goals like customer acquisition and individual sales.

Why is relationship marketing important

Acquiring new customer is always very expensive for any business and it can be difficult to sustain business growth too if you are not retaining your existing customer. Using relationship marketing, you can increase your customer retention rate, brand loyalty, engagement,

Even if your company has a slightly higher price; many customers are more likely to select your business because of
the relationship developed with them, as you made them feel that they are important to your business.

When you have a personal relationship with your customers, it makes a real difference in the results you experience. There are 3 important benefits of relationship marketing to your business

  • Profitability – When Customer service ranks as the No. 1 factor influencing how much a consumer trusts a company.
  • Builds Trust – it’s more important than ever to develop the personal relationship with customers so that they clearly understand that you, as the small business owner, genuinely care about their welfare and not just see them as a means to a profitable end.
  • Create Your Own Research Team – Your loyal customers and clients are in the best position to share with you ideas and suggestions on how your products or service could be better. They can also share how the changes and enhancements would impact their lives.

Tips about relationship marketing

Let’s look at some of the strategies you can implement in your business

Know your customer

  • In order to influence a large number of people to buy your products or service, you must know who your ideal customer is?
  • Small businesses have a priceless opportunity to get to know their customers on a more personal; hence you must grab each and every opportunity to capture your customer’s information through Customer Relationship Management process.
  • When you are clear on your target market, you can direct your message; it will have much better results.

Build Strong Brand Identity

  • The type of customers you have and the ways in which you
    communicate and interact with them have a direct impact on every aspect of the experience
  • Develop a communication style and sequence that acknowledges and “speaks to” each prospective customer in a personalized way.
  • Stay top of the customers mind.
  • You must be aware of and speak to your customer’s interest. Take time to discover and acknowledge what they’re interested in so you will know how you can best serve them.
  • Make your customer or prospective customer feel important and do it sincerely. It would be impossible to do this if you do not take the time to get to know your customer.

 

Warm Greeting 

  • This is an opportunity to turn your customer into a loyal advocate by delivering warm greeting which will create a memorable experience.

Respond quickly

  • This is the most important part of a customer service process that generates high customer satisfaction.

Respect customers:

  • Always remember to remain calm and never let your emotions take charge, each time you encounter a ‘challenging’ customer.

Ask for Feedback

  • Customers are the means of support of your business and they are at the best position to share with reviews and suggestions on how your products or service could be better. You should always give your customers the opportunity to leave feedback and rate their experience with your company.
  • You can request your customer to rate their experience after they make a purchase. Ask for ratings on both the product itself, as well as the overall buying experience. This will help your business to gain valuable feedback about what you’re doing well and areas where you can improve.
  • It’s important that your business remains open to both positive and negative feedback. If someone has a bad experience with your company, you need to take the appropriate steps to earn back their business. Demonstrate to your customers that you truly care about them and are willing to go the extra mile to ensure that they have positive experiences with your company.

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