How would you feel if your sales suddenly took a dip? One of the biggest fears companies have is of losing their clientele. It takes a lot of effort and hard work to keep hold of the existing customers. In this age, where there is so much competition one way to retain clientele and ensure loyalty is by implementing relationship marketing.
In simple words relationship marketing is done to establish long-standing relationship with your clientele. The strategies that you design revolve around building everlasting connections and to promote customer loyalty.
The perks of relationship marketing are innumerable. A loyal clientele means that you don’t have to convince them to buy new or additional products. Satisfied customers also bring additional customers to your business by sharing their positive experiences. Another benefit is that competitors have a rough time entering your market or gaining your share as it is tough to attract customers who are already loyal to other brand. Finally through relationship marketing, the cost of business also decreases due to the long term relations between clients and businesses.
Introduction of loyalty programs is the preferred strategy of businesses who want to encourage customer loyalty. Now famous and utilized by a variety of businesses from books to travel and softwares, they work on the principle of customers receiving certain incentives for frequent purchases. Customers who sign in to these programs are attracted to buying more and more products to reap greater benefits. This keeps bringing them back to the same place over and over again.
Another great tool to implement relationship marketing is CRM software that has databases that allow you to store and use client’s information for future communication. For example wishing your clients a happy birthday or anniversary allows you to get personal with them and build a better customer-business relationship.
Today’s time is of social media so why not use it for building loyalty. It is a great way to show your customers that you are always available for them. It is also an inexpensive way to share information. Another great advantage is your loyal customers will praise your products or services in front of hundreds of others, thus getting you more followers while retaining the loyal ones. A total win win situation!
Finally good relationship marketing is all about the quality customer care you provide. It is all about consistency and personal support. This can be done in so many ways. Ensure your support desk people are always courteous and helpful in dealing with a variety of customers. If there is any post sales issue, try to resolve it as soon as possible. Convince your customers that even after they have purchased a product from you, you are always available for any queries they might have in the future. Small steps like this help your customers know that you are just not another company, but truly care about them.
The above strategies can help you lay the foundation for long term customer relationship and also result in higher customer satisfaction and repeat business. Remember your business is dependent on your customers so aim for relationship marketing and be sure of your company’s success.