According to Wikipedia, relationship marketing was first defined as a form of marketing developed from direct response marketing campaigns that emphasize customer retention and satisfaction, rather than a dominant focus on sales transactions. I like to take it one step further. Well actually 7 steps further. Being in business these days is tough. Potential clients are expecting so much more in return for their business and the competition is fierce. Things have changed. Marketing communication has evolved and those businesses that have got a handle on these changes have a competitive advantage in their niche.
As opposed to transactional marketing’s focus on direct sales, relationship marketing emphasizes increased word-of-mouth activity, repeat business and a willingness on the customer’s part to provide information to the organisation. And unlike interruption marketing, this process is started willingly via an opt-in by the customer.
What if businesses decided to inform, rather than promote? You know that expression ‘If you give a man a fish, you feed him for a day; if you teach a man to fish, you feed him for a lifetime?’ The same is true for marketing. If you sell something you make a customer today, if you help someone, you make a customer for life.
Step 1. Add Value – Give freely of your time and expertise. Share industry secrets or give your potential clients/customers some great information that will enhance their lives. If you are freely giving tips or advice that is related to the problem that you solve, you will always be ‘front of mind.’ Not only will you be seen as gregarious and giving, you will also raise your expert status.
Step 2. Get Social – Social Media has become one of the best ways to engage with your potential and current clients. Once you understand the intricacies of how the social scene works, take the time to share your clients success and engage in the fun conversation that takes places especially on Facebook which now has over 1 billion users.
Step 3. Email – Email marketing is still one of the most powerful mediums to build relationships with your customers, as it is just so personal. At work, many employees spend 2 ½ hours in their inbox—that’s a lot of time! Make sure not to ignore this channel by delivering great content and product updates via email. A consistent stream of genuinely useful content will guarantee that your campaign is really effective—and it’s something that business owners have never been able to deliver over display ads or social networks.
Step 4. Be Consistent – Some businesses go hard early and then lose interest and their consistency in the relationship marketing. The quickest way to disengage potential clients/customers is by having a confusing marketing strategy. Be consistent in not only your message but also in your delivery. Ask your customers what they want. Do they want to hear from you daily? If so, make sure you have a strategy in place to achieve this level of interaction.
Step 5. Engage and Interact – Have the commitment to your clients/customers by replying to any question or comment they make. Whether this is on Social Media or responding to an email, nothing screams apathy quicker than ignoring your clients/customers. Relationship marketing effectiveness is due to starting a relationship and then fostering it through open communication.
Step 6. Solve a Problem – After you have fostered a relationship and built trust with your clients/customers you have earned the opportunity to make an offer. When you are making your offer, make sure that you are solving the common problem that your target market has. Don’t mistake a casual offer for a poor offer. Utilize everything you know about the phycology of sales and make your offer compelling and irresistible to ignore.
Step 7. Follow Up – Follow up is the key to a successful relationship marketing strategy. Everything can fall over at the final hurdle if you don’t have the correct follow up system in place. An appropriate follow up will happen with 48 hours, regardless of how ‘busy’ you are. No relationship will flourish without time and effort being put into nurturing it. Gone are the days of assuming your customer owes you anything. Rather, start building those relationships today.
