An easy introduction to Relationship Marketing, the first in a series of guides to explain often misunderstood concepts. The next 60 second guides are on Permission Marketing, Inbound Marketing, their relationship to other types of marketing and then one minute on how they fit together. Collect them on your iPhone and you’ll have a four minute refresher on the way to the boardroom for your next meeting with the creatives. 1
The idea behind these videos is to add context and clarity. If this one has whet your appetite rather than satiated your thirst and you want to investigate further, well, it would probably be appropriate to start at Wikipedia.org’s Relationship Marketing entry.
Naturally enough, ‘Content’ is the next subject series after these four audio blasts on marketing. How to get it, how to make it, what to do with it and why, when and where to publish it.
This is one of 4 audio blasts about marketing methods, I hope to put each method into context for you in 60 seconds.
I’ll begin with Relationship marketing, which is a strategy. Finding a prospect, building a relationship through repeated interaction so they become a customer, then nurturing the relationship to retain their interest. The aim is to develop trust and build increased value for both parties, but you are likely to be investing in your customer early on.
As relationships strengthen and trust increases, you can exchange bigger lumps of value through your products and services, you’ll make fewer but easier sales, with bigger ticket prices. Get it right and the lifetime value of customers that stay with you will outweigh your investment in those that leave.
You’re no longer just measuring sales, you’re tracking relationships, a lot of them, so you have to automate the Customer relationship management, CRM. Don’t panic, you’ve a big choice of inexpensive, sophisticated products to help hold it all together.
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