Relationship marketing for business website in 2019
RELATIONSHIP MARKETING
One of the most difficult job in business to acquire new customer ,
mostly in every business , it is costlier 5 times more than retaining
the old or existing customers .
In long run, existing customers are the key factor for business to
grow as they also do mouth branding , which is most important for
any type of business , mouth branding is the most cheapest and most
effective way of marketing .
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What is relationship marketing?
Relationship marketing can be defined as a form of marketing in
which company build good relations with customers for long term.
They do their best to acquire their existing customers and make
them permanent , big companies believes in retaining these
customers as finding new customers every time is costly as well as tie
consuming .
Big companies organizing direct response campaigns for long time to
retain their customers as they have a teams of experts and they
knew its important for expansion and growth in long term .
IMPORTANCE OF RELATIONAL MARKETING
Most important factor of relational marketing is that they not only
help you get new customers but they will also help in branding of the
company as they become your permanent customers , if they
experience will be good with the company they might also in invest
in company by buying shares also .
# New customers
Relational marketing helps you get new customers as well as
customers who have great experience with company and its services
will definitely share their views with his family , friends , colleague ,
,etc . in marketing terms it is called mouth branding.
This technique/method help companies to grow fast as this method
of marketing is cheapest and most effective .
# Innovation opportunities
Companies with great customers fan base always to do something
better or their existing and new customers as well, so companies
always try to find something new , attractive which will make their
customers more happy, big comapnaies always play smart by make
their customers happy by doint such innovations .
For example – apple is one of the top company to use relational
marketing as they always try to do some better , innovative to retain
its customers .
# credibility
Companies with good relations with customers has a high credibility
in market as compared to companies who have not less good
relations with their existing customers.
Companies with better goodwill get supplies of raw material on
credit easily and bank also provide credit easily to these companies
as they knew their money is In safe hands .
ADVANTAGES OF REALATIONAL MARKETING
# Bring new customers
One of the best advantage of relational marketing is that customers
who are already satisfied with company serives and products will
Definity bring new customer to the company through Word-of-mouth
marketing.
# Cheaper way of marketing as compared to other ways
Relational marketing is one time investment as soon as
customers will get satisfied with your brands product and
services they will become your loyal customers and they will
also bring new customers, retaining its existing customers is
cheaper and effective as compared to bringing new customers .
# Fast growth
Companies with good customers lead to fast growth and
expansion , as there goodwill is good, there credibility is also
good, they will get loans easily and people will be also
interested in investing in companies who is secure .
DISADVANTAGES OF RELATIONAL MARKETING
# New customers might face ignorance
New customers might face ignorance as company will first
focus on its existing customer .
This is one of the important disadvantage if relationship
marketing , companies are trying to overcome from this
advantage by giving equal attention to both existing and new
customers
# Sometimes its costly
Sometimes it can be costly , customers who are not getting
satisfied with product and services , companies provide great
offers to these customers like promotional discounts of 50 % or
gift hampers, etc.
# It takes time for relationship marketing to be effective.
It takes a lot of time for relationship marketing to be effective
as customers nowadays don’t get satisfied easily as there is so
much competition, companies trying to provide better services
to customers at cheaper rates.
So, it take a lot of time for company to build relationship with
customers.
These are some disadvantages of relationship marketing ,
these are not much big disadvantage to companies , they can
easily overcome these disadvantages if they want.
Conclusion
Relationship marketing is most important for a company to
grow and for expansion in long run , every company must use
this marketing as they its is cheap and most effective marketing
as compared to others way of marketing.
Nowadays every big company is trying to build there relations
with customers by providing best services at low prices, to
establish you business must use relationship marketing .
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