Relationship marketing as I have mentioned in the first part is the process of developing a relationship that is not motivated by sales opportunity and is aimed at helping your customers and potential customers by treating them as humans rather than funnel-able leads. Companies that practice relationship marketing saw a 450% increase in qualified prospects.
Did you know that email marketing has the highest ROI when compared to other platforms such as social media, banner ads or SEO?
Email marketing gives the highest ROI at $40 for every $1 spent . That’s A LOT!
That’s the reason why almost every marketer says the money is in the list. And they are not wrong. If you are not building an email list in 2016, you are leaving a ton of money on the table.
Relationship marketing refers to the form of marketing that developed from direct response marketing campaigns which emphasizes customer retention and satisfaction rather than a dominant focus on sales transaction.
The term relationship marketing was first introduced in 1986 to the services marketing literature by Dr. Leonard L. Berry who defined it as attracting, maintaining and enhancing customer relationships. (Source)
In common language, relationship marketing is taking care of your customers and all humans in general to build a bond in which both seller and customer have a bonding beyond business. It’s not like traditional marketing where your terms end after a particular sales goal is over; here you build a lifelong relationship for more business opportunities.
Through relationship marketing a blogger or business aims at making a relationship or comfort zone with a client that doesn’t aim at a one off sales. The aim is to make lifetime business relationships.
When customer is GOD for businesses, relationship marketing is worshiping the GOD to get blessings. Click To Tweet
For example, when Mari Smith was tolerating a flight delay, the Alaska air manager at San Diego bought her an IPhone charger. Now this is what is called relationship marketing. The manager was not entitled to buy her anything but he did as a friend would do in such a situation. Result, the flight delay was not as painful as it could be and they won Mari as a good client or customer.
Relationship marketing starts even before presales and continues to post sales through sales. Click To Tweet.
Relationship marketing not only is an approach by online small and large businesses but also has an approach in the offline business models. The fact that value to the customers can be given at any realm shows that relationship marketing aims at both the offline and online marketing skills.
“The purpose of a business is to create a customer” – Peter F Drucker
You got to be good at social media marketing and you got to do brand management well. Again relationship marketing to offline businesses refers to use of various TV ads, newspaper advertisement slots, billboards and even salesmanship. Here are certain tactics for doing relationship marketing effectively.
In order to serve the customer you need to know who they are. Only after the initial knowing you can think of aiming to serve the person better. For this you need to go on social media. Social media marketing is an essential step in knowing who your audience is.
You could know the basics about who your audience is by analyzing your product. If your product is something related to women find your business prospects on Pinterest or even Facebook. You could also use Google alerts to monitor when people are talking to you; the ones talking about your products are nobody else but your customers or potential customers. Here is a huge list of tools to help you monitor your prospects on social media.
Companies like Zappos, Ford and Starbucks are the real stars of relationship marketing. They forget their egos and get inside the talks going on between their customers (no I am not talking of interrupting). Zappos and Starbucks are always active on social media and do a good campaign to show their stand and voice.
In order to manage your relationship marketing campaign you need to tell your customers or readers that they are valued.
Gift them an incentive just like Starbucks does by giving free servings and other goodies to loyal customers.
You could also send a free kit of your upcoming product, course or a trailer of your video to your customer asking their views on it. Won’t they be amazed by knowing their opinions matter?
If you are a blogger you can practice relationship marketing by emailing a PDF of your post to your subscribers etc. any sort of good reward is considered a good technique to practice relationship marketing by most consumer oriented businesses.
Social listening is one of the most important tools of relationship marketing. You need to be aware of what your consumers are saying to you by studying their behavior. If it’s a positive feedback you should use it as a token to get inspired to work likely.
If your customers are speaking negative about your product, you should act ASAP to deal with it. You could talk to them, provide one on one tutorials, free demo services and do whatever you want in order to get your customers happy and back to track.
Having a blog or a website for your company is highly essential in your relationship marketing campaigns. Buffer for example, has used its blog to provide in-depth research oriented guides and blog posts that help its customers (social media enthusiasts and online marketers) do better social media marketing. Through this blog, they subtly advertise and instill the buffer value in the sub-conscious minds of the readers which are easily converted from suspects to prospects and then paying leads in the time course.
A well-established blog is the best tool for relationship marketing and it could help you in gaining new search engine visitors.
CRM or customer relationship management is a very integral part of relationship marketing. It is so related to the latter that they are sometimes one and the same concept.
CRM is defined as a business process in which client relationships, customer loyalties and brand value are built through marketing strategies. While RM deals with strategies formulation CRM sees how these strategies are implemented in the next level.
CRM can be also thought as an interdependent or marrying concept where both the business and its customers are both in the advantageous zone. The client gets rewarded for being a valued customer and on the other hand the company gets a loyal customer in return for some additional freebies and value.
CRM also indirectly helps in cross selling where the word of mouth plays a major role. In this process the customer satisfied by the values your business gives speaks good about your product to every potential client he meets. Here the client does not get benefited; instead the business gets the reward for providing value as the positive publicity will help it to reach to more leads beyond his organic reach.
When you have built a strong relationship with your audience or clients they tend to go loyal. Most of the time, your value to the customers make them buy an upcoming product and they may help you in increasing sales. It is exactly opposite with traditional marketing where you don’t attempt to influence the customer (or try at least) to make a second purchase.
When you have more sales and your returning customers are your loyal customers they pay you the price you deserve and thus your profit boosts.
Did you notice I mentioned word of mouth in the previous section? Yes it is this customer satisfaction that tempts them to spread a positive word of mouth which further helps businesses to gain more leads. Nearly 84% of the purchasers take advice from their near and known ones before making a purchase. Organizations can actually reach far beyond their primary reach with word of mouth.
While focusing on giving value to your existing customers, you might spent far more than your budget for that financial year which might lead to loses.
Business means endless opportunities to make new customers, but while indulging in RM many of us might forget that we could use that time to get connected to new as well as complete random set of leads that would otherwise never come in contact with the product.
While this is very rare you cannot ignore the chances of getting victimized of a negative campaign. When something goes wrong the fickle-minded crowd might spread negative word of mouth and this can ruin your business campaign as a whole.
Relationship marketing was always existent. In India we consider customers as Gods or god-like and respect them a lot. That is the essence of relationship marketing. You have to build a relationship beyond your business goals much like something on a family basis.
This works at all levels. Even bloggers can use relationship marketing as a tool to get more engagement in social media and blogging. This engagement can then be converted into loyal readership, which can then be taken into lead generation step.
Once a pro-blogger goes beyond his limits and helps a new blogger (he isn’t again entitled to help but does) the new blogger would develop immense respect for him/her and this alliance can profit both the allies. Its more like a win-win situation where every tier gets benefited from the other. Isn’t it the very essence of life also? #ThinkAboutIt
1) Facebook tips to increase organic reach of business pages 2015:
2) Personal branding tips on social media
3) Social Media trends in 2015 and tools to use – An expert round up from social media experts
4) Humanize your brand on social media:
5) The New Relationship Marketing: How to Build a Large, Loyal, Profitable Network Using the Social Web
Think about the most popular bloggers who are known by everyone and you find them mentioned almost everywhere.
Ever wondered how you too can be truly magnetic? You have the power to change and you can learn to be more likable.
This article may cause you to —
1. be more persuasive.
2. be more likable.
3. be more trustable.
I love writing about this because I’ve always managed to get what I want even from the busiest business owners and artists. The list includes – TED speakers, popular Web TV personalities, Reality TV producers, Footballers, World’s Top Entrepreneurs, Top earning authors and many more.
After rigorous research and implementation of the strategies found during the research, I’ve designed this infographic that will help you discover the three most powerful ways to make people like you online.
Let’s discuss the above-mentioned strategies in detail. But before that here is what to do if you want to publish this breath-taking infographic at your blog.
When I say, I want you to be seen as a “Hero”, I expect you to give the best to the people around you and help them with whatever you can.
One of my favorite Google+ hangout host Wade Harman puts this perfectly; he says,”Become a hero to one individual at a time.”
He is right! Your marketing efforts should be focused on individuals and not on the masses.
Hyper-personalized e-mails always stand out. Go beyond a name and target your audience based on their location, preferences and behavior.
For example, My blog subscribers who reply to my personalized e-mails get a different e-mail than those who never reply.
Those who do not reply, get a hyper-personalized version of the e-mails that are written to get their response.
Same is the case when you write to influencers of your niche. Research about them and craft an irresistible e-mail that makes their jaw drop.
Here is the example of an e-mail I sent to New York Times best-selling author, Ramit Sethi in which I called him “my surrogate Asian father” and I actually got a reply —
Talk about your flaws to your audience. Let them know that you’re wanting to learn new things.
You’ll appear to be more authentic if you embrace your flaws.
I believe vulnerability makes us more approachable and relatable.
In one of the most watched talks on TED.com Brene Brown said – “Vulnerability is our most accurate measurement of courage”.[ft_video ratio=”16:9″ url=”https://www.youtube.com/watch?v=iCvmsMzlF7o”]
You’re amazing and you deserve the best!
Because I feel your ideas and input to the world matters, I’ve dedicated 11 hours in writing this post (including the infographic design) just for YOU.
My upcoming digital product “Make People Want You” is an e-book which can help you win hearts of your readers, clients, influencers, friends, and even haters.
Here’s is your chance to get my upcoming e-book for FREE. Just fill this form so I can add your name for a chance to get my book 100% free of charge.
In the comments below, let me know if there is anything I can help you with. And Of course, if you’ve any other strategies that worked for you, please share with us.
Rohan Chaubey is the founder of “Be Rohanlicious” – a blog that teaches you to be smart with social media, blogging and programming. Rohan is on a mission to help all the enthusiastic souls like you, who want to “make it to the next level” and stand out of the crowd.
His e-book “Make People Want You” is releasing on 10th of November 2015. Allow him to inject awesomeness in your life by signing up to his list here.