pptx. 3 Flashcards
(31 cards)
focuses on building and maintaining
long-term relationships with customers. It goes beyond just
selling products or services and aims to create loyal customers
who are likely to return for more.
Relationship marketing
is a strategic approach that prioritizes building and nurturing
relationships with customers. It focuses on understanding customer needs and providing value
beyond transactional interactions.
relationship marketing
Building long-term
relationships with customers,
rather than just seeking shortterm sales.
Long-Term Focus
Prioritizing customer needs
and preferences to create a
positive experience.
Customer-Centric Approach
Developing meaningful
connections with customers
through communication,
engagement, and value
creation.
Relationship Building
Loyal customers are
more likely to make
repeat purchases and
refer new customers.
Customer Retention
Satisfied customers tend
to spend more and are
less price-sensitive.
Increased Profitability
Loyal customers are
more likely to spread
positive reviews and
recommendations.
Positive Word-of-Mouth
A loyal customer base
builds trust and credibility,
enhancing brand image.
Stronger Brand Reputation
Benefits of Relationship Marketing
Increased Revenue
Customer Loyalty
Reduced Marketing Costs
Customers are more likely to
stick with brands that
demonstrate genuine care and
value
Customer Loyalty
Repeat purchases and
referrals from loyal customers
lead to increased revenue for
businesses.
Increased Revenue
Maintaining relationships with
existing customers is often
more cost-effective than
acquiring new ones.
Reduced Marketing Costs
aim to build and nurture strong
customer connections, fostering lasting relationships.
Relationship Development
Strategies
Engaging customers with tailored messages,
addressing their specific needs and interests.
Personalized Communication
Actively seeking customer input and using it
to improve products, services, and experiences
Customer Feedback Collection
Creating online or offline communities where customers
can connect with each other and the brand.
Community Building
Rewarding loyal customers for their continued
patronage and engagement
Loyalty Programs
Openly communicate about
products, services, and
policies.
Transparency
Deliver on promises and
meet customer expectations
consistently.
Reliability
Provide prompt and helpful
customer support.
Responsiveness
Show genuine understanding
and concern for customer
needs.
Empathy
Monitoring customer
interactions and
engagement on social
media, email, and other
channels.
Customer Engagement
Calculating the total
revenue generated from
a customer over their
relationship with the
business.
Customer Lifetime
Value
