Relationship Marketing is targeted at building stronger and long lasting relationships with clients and other companies. The business is done with a strategic orientation, where the relationship is improved with existing customers and potential new customers. Its major part involves studying the need of the customer and how it changes in different circumstances. In other words to listen to our customers needs, to build rapport, then learn their demographics, their buying habits, even their dreams and whys.
Relationship marketing applies techniques like marketing, sales, customer care and communication. The relationship is not only enhanced but its life period is increased by these strategies. And as the customer realizes the value of relationship, they are drawn closer. This marketing not only focuses on building relationship and attracting customers to their products and services but also how to retain them.
Relationship Internet Marketing
It takes a lot of courage, knowledge, and expertise for you to become a successful Internet marketer. It takes courage in the sense that you are willing to take the risk of losing what you have invested. Although the Internet marketing is full of earning opportunities, it is still considered to be as a business where there are individuals who are profiting and at the same time losing most or their entire investment. Every top income earner has built key relationship with its customers which many times are its affiliates or partners. The Internet marketing model is built to relationship.
The best way to build a strong relationship marketing base is through our personal blog. Blog is a viral mass communication system, very powerful and it is success is about relationships. Superstar Marketing is about relationships and superstar sponsoring in mlm industry is about relationships.
Creating your Internet marketing blog takes time and a lot of effort. You need to provide quality content, complete information about your online business and on the products that it offers for sale to the public, and several services such as articles, pointers, and short quizzes that will not just show off your skills and expertise but will educate your clients and visitors about a wide range of topics.
Once you have enhanced your website, your responsibility does not end there. You need to upgrade your blog by including fresh and updated information and posts as well as new features for easy site navigation. However, one of the things that you must consider is asking yourself if your clients are getting the best Internet marketing service out of your blog, to the social media, to the forums etc.
A very good tool in building online relationships are an online opinion poll. Site visitors and clients can air their concerns suggestions regarding certain services you are offering through your blog, and you can collect many valuable information about your market niche.
Building Customer Loyalty
According to a research, the cost of retaining an old customer is only ten percent of the cost of getting a new customer, which makes sense to not to run around to get new customers in relationship marketing. And according to another research done by cross-sectional analysis, says that, a five percent improvement in customer retention is responsible for twenty-five to eighty-five percent of the profit. Usually high cost is incurred when getting new customers, so if sufficient number of existing customers is retained, there will be no need of acquiring new customers. Moreover, when losing one dissatisfied customer, the cost of returning him back to our blog is 17 times higher than to acquire a new one!
Once the customer trust is gained his chances of switching to other company becomes relatively less, he buys goods in bulk, he buys other supplementary goods and he starts neglecting average price variation. This maintains the unit sales volume and there is an increase in dollar-sales volume. The existing customers will be like a living advertisement. If he is satisfied with the company he will recommend it to his friends and acquaintances.
Educate Your Customers With a Funded Proposal
Since the existing customers are familiar with the process, or the new customer are attracted to you , then there is a good chance to educate them with a Funded Proposal. A funded proposal is to make the prospects or our potential customer pay to join our affiliate opportunity or mlm business through education. An ebook, an online education platform, a video series or some inner circle webinars are of high value for our prospects. We place ourselves as an expert in our niche and we mesmerize our prospects. We attract them and we build relationships with them.
To learn more about My Funded Proposal, click here! You are going to love it!
Category: Internet Marketing