Relationship Marketing – What is it?
Relationship marketing is a strategy designed to foster customer loyalty, interaction and long-term engagement.
Rather than investing time and money trying to attract new, unknown potential clients directly to your business, relationship marketing instead aims to build your business based on delivering exceptional service and value to your existing clients. Impressed, these existing clients then spend more money at your business and recommend you to their friends or family. This raises your profitability and also draws in the right sort of new clients in the long run.
You already know more than you think about relationship marketing. The concepts of relationship marketing are so simple; it can sometimes seem more like common sense than marketing advice.
Do you know a fantastic service provider who you trust and respect? A ‘service superhero’ who gives you everything you want and more? Chances are that you will always return to them when you need the service or product they provide – and you’ll actively recommend them to your friends and family.
That’s relationship marketing!
Taking outstanding care of your clients = taking control of your business.
Provide: Excellent communication, outstanding service, trustworthy advice, exceed expectations – and a personal touch with a bit of education thrown in.
Receive: Loyal repeat business, higher per-client value, new referrals, less price-sensitivity among your clients, growing revenue.
So get your superhero cape ready. Focus on relationship marketing and build your business on a foundation of INCREDIBLE service.
Our Top Tips for Relationship Marketing:
- Listening is critical – Don’t just listen to facts and figures relating to your professional relationship. Listen to everything else your client tells you. Make a note of key events and issues in your client’s lives so you can enquire after the event or perhaps provide a solution to a problem they have.
- Be human – Don’t just be your business, make the time to interact with your clients on a personal level too. You don’t have to try and be best friends but you do want them to feel comfortable with you. A few minutes on a friendly catch up always helps build loyalty and trust.
- Stay in touch – Make a note of calendar dates that are significant to your client, keep them in tune with deadlines and any changes in legislation, laws etc. that may affect their particular circumstances. And, of course, always send a card or note on birthdays and other special days throughout the year.
- Be flexible – Providing a service is not always easy. If your client is busy, show them you understand and care by being prepared to work outside of your preferred structure.
- Know your stuff – Keep yourself up to date with everything to do with your career and industry. Set aside time each week to read relevant publications. Stay on top of your field and spot changes in the pipeline by following reputable websites. The best customer service often involves putting your teacher hat on!
- Go the extra mile – To be a service super hero, you need to provide the kind of service that you would be impressed to receive. Think about how you would feel if you received the service you provided to your last client. Be honest – if your service isn’t 100%, you are failing your client AND you’re failing to ensure your own business succeeds.