What is Relational Marketing? Definition of Relational Marketing, Relational Marketing Meaning and Concept
The marketing relational is a type of trading strategy that aims to generate close and profitable customer relationships.
To put it into practice, it is necessary to analyze the behavior of consumers and around their needs to design actions that seek to facilitate interaction with them and provide them with a satisfactory experience.
The importance of designing this type of action is to ensure that those customers stay and consume a certain brand and do not go to the competition.
The objective is loyalty, and to be able to retain it over time in such a way that it consumes regularly.
Companies estimate the individual value and life value of the consumer and design market offerings and prices in such a way that profits are generated over the lifetime of the customer.
Getting customers is paramount, but keeping them is just as important. For this reason, companies must design actions aimed at both objectives. If a company wants to be successful in the long term, it must take into account that the base is the achievement of loyal customers and consumers.
Reasons to use relationship marketing
Here are some main reasons:
- The customer is a priority for a company to exist. Therefore, making use of this strategy is something totally necessary and mandatory.
- The satisfied consumer always has as a reference the company that has treated him well. A happy customer is a customer who does not abandon a brand.
- Lower costs.
- The relationship is beneficial for the company and for the clients since it develops actions to maintain a constant relationship and offer the products that consumers demand.
Aspects to consider in relationship marketing
These are the main ones:
- Identify the customer. Once they are known, groups can be created to group them according to products, needs, among other options.
- Differences between clients. Depending on how often you buy, or how much you buy, each customer has a certain value for the company. Carrying out a study on this will allow them to be classified, and facilitate segmented strategies directed towards that specific group.
- Close contact with the consumer. It allows to reduce costs since it facilitates a close relationship, of active listening with the clients.
Closing a sale is not the end of the business process, but the beginning of the organization's relationship with a customer. This is the basis on which relationship marketing is based, which is based on the idea of establishing a learning relationship with each client.
By prioritizing the interests of consumers over those of the business, the company achieves greater profitability as a result of the loyalty and preference that they end up developing towards the company. Everyone wins.
- Also read: What is Commercial Hook? Definition of Commercial Hook, Commercial Hook Meaning and Concept
- Also read: What is Horizontal Integration? Definition of Horizontal Integration, Horizontal Integration Meaning and Concept
- Also read: What is Vertical Integration? Definition of Vertical Integration, Vertical Integration Meaning and Concept
Relationship marketing actions
To put this strategy into practice, these are some of the actions to be carried out:
- E-mailing. Scheduling emails days after customer purchase to thank you for your trust.
- Monitoring social networks. Serve consumers through these channels, giving them answers to their doubts or complaints.
- Loyalty actions. To retain the customer, how to give them a present, discount, surprise...