Relationship Marketing
Relationship Marketing
Relationship Marketing is a form of marketing that focuses on ensuring customer satisfaction and a high customer retention rate, instead of focusing on solely on sale transactions.
Why does TrackMaven think that Relationship Marketing is important?
Relationship marketing differs from other forms of marketing because it approaches marketing from a different angle. Unlike most other marketing methods, relationship marketing understands the benefits that arise from long-term satisfied customer relationships. It attempts to establish a relationship with customers that exists outside of sales transactions.
Instead of contacting a customer with intrusive marketing messages and advertisements to buy more products, a company using relationship marketing will contact a customer to get to know him/her better. These companies realize that by understanding a customer, they will be able to better serve that customer. Customers who feel like a company truly cares about them are much more likely to buy a product from that company. Nobody wants to feel like they are just another name on a list, which is why when companies make the extra effort to establish a personal relationship with a customer, people take notice. This leads to excellent customer service, which in turn can very easily lead to customer referrals from satisfied customers.