Marketing has traditionally been viewed with a transaction perspective- where the sale ends the process. Sales are what keeps the company up and running, so it make complete sense on why the sale is the main focus of the marketing team, and even the entire company. With this perspective, once the sale is made, our team moves on to another customer- to another sale. Over time as customers have become more valued in the sales process, there has become a new perspective on marketing: relationship marketing.
What is relationship marketing?
Relationship marketing is where the company focuses on the consumer more than the sale. People who practice relationship marketing view the sale as the beginning of the process rather than the end of it. Even after the sale, it’s extremely important to still build relationships with your customers. If your company is looking for lifetime customers, relationship marketing is crucial to your business plan. When committing to and focusing on consumer relationships after the sale, it leads to customer loyalty to your company and repeat purchases.
How to implement relationship marketing:
Relationship marketing has been more prominent in the digital age, so when implementing this strategy, it’s very beneficial for your company to use the technology available so this process is easier and less time taken away from other tasks that your team needs to perform. One of the resources that’s used for relationship marketing is customer databases. You are able to keep track of information on their customers, whether it’s their addresses, phone numbers, email addresses, birthdays, etc. You can use all of this information to further develop your relationship with them. For example, you can keep track of your customers purchasing habits and recommend other products to them that would work well with their previous purchases.
The internet in general is also very useful for relationship marketing. The internet allows the flow of information between a customer and a company to happen instantly. To use this to your advantage your company should have a place to answer frequently asked questions on your website, have a “thank you” email sent to customers who purchased products from your online website, and even send out discounts and product recommendations through the customers email every so often.