Relationship_Marketing

Building relationships through effective marketing is a difficult task for many entrepreneurs. Whether you're in a corporate culture or whether you're a home-business owner relationships are going to be critical to the success of your organization. Relationship marketing is simply a way for you, the seller (in a broad sense), are attempting to connect with and create value for your buyers (customers, business partners) etc...Customer value is created by providing after sale service, ensuring on-time delivery, quality and convenience. The challenge many marketers face when trying to develop relationships is their attempt to try and please everybody. This can't and won't work. Everybody isn't going to buy your product or join your downline. So why focus on those who aren't your prospects' You want to target your market and begin to develop an effective relationship marketing program. Building such a program is generally easy to understand but difficult to implement. As home-business owners, we have a personal responsibility as leaders or future leaders of our company to develop relationship building techniques that will duplicate through our downline. However, as I mentioned this could be a very difficult task because each individual customer or business partner you come across will have different values and so your approach to one person may not work for the next. This is why it's critical that you know your people, talk to them, ask them questions, learn a little bit about them so you can have the knowledge necessary to build on a positive relationship with your prospective customers and/or business partners. Marketing online as a whole can be quite hard and can be very troubling for the newbie internet marketer. With there being so many different resources of information on this subject, you can see why some people get information overload. Today I want to look at something called relationship marketing and why you need this in your online toolbox to become successful. Many people forget this simple, yet highly effective marketing method and then blame themselves for not doing it later on in their business. Relationship building is very good because you can really connect with the visitor and gain trust immediately. You can really build a good connection with them and show them that you are the real deal. You can give out free resources, tips and tricks and also very valuable pieces of information. Do this right and you will see a nice income grow. Being unique and HONEST is the best way to become successful online. Do not hide behind the computer and pretend that you make a million dollars a year selling cookies. This is silly and you will quickly get labelled as a scam artist and trust me this is not good. Relationship marketing is all about building that first spark and when this is done properly...you just need to build that bond stronger and stronger...eventually becoming almost best friends. Take me for example, I am to help people even before I think about making money and this for me is a great feeling and it should be for you too. EVOLUTION OF THE CONCEPT In the early 1990s the concept of relationship marketing was formally introduced into the field of service marketing. And further the concept was also found applicable in the case of industrial as well as consumer products. As the concept of relationship marketing has emerged the focus has been shifted from transaction marketing to relationship marketing as under: Transaction marketing - Relationship Marketing * Focus on single sale - * Focus on customer retention * Orientation on product features - * Orientation on product benefits * Little emphasis on customer - * High customer service emphasis Service * Limited customer commitment - * High customer commitment * Moderate customer contact - * High customer contact * Quality is primarily a concern - * Quality is concern for all. Of production - (TQM ). NEED FOR RELATIONSHIP MARKETING The aim of relationship marketing is to create strong, lasting relationship with core group of customers. It is to a firm's advantage to develop long term relationship with existing customers because it is easier and less expensive to make an additional sale to an exiting customer than to make a new sale to a new customer. BENEFITS OF RELATIONSHIP MARKETING The relationship marketing helps the customer on one hand and the service provider on the other hand. The benefits which are associated with the customers are: o Customers remain loyal and receive more value compared to the competitors. o Customers have the sense of well being and quality of life as they have long term relationship with the service provider. o Customer think that the service provider knows their preferences and have tailored services to suit their needs over a period of time and they do not want to change this arrangement they have remain loyal. The benefits for the service producers are: o Due to good relationship management the service provider gets committed and loyal customers, thus increasing the purchases, which in turn increase the profits of the company. o Lower cost retaining the current customers cost much lower than making new customers as new customers attract advertising cost and other promotional costs, operating costs of setting up accounts and systems and cost of getting to know the customers. o Free advertising through word of mouth. o It is easier for the firm to retain the employees when the company has stable base of satisfied customers.