Propelling Your Internet Marketing Business With Relationship Marketing
Relationship Marketing is targeted at building stronger and long lasting relationships with your customers
. In this case you improve the relationship between you and your existing customers rather than finding new customers. We take a look how to excel at relationship marketing.Send a newsletter to ask for feedback on the freebies youve given out or the products they have bought. You can even ask your most loyal customers how you can improve on your products so that it can benefit them more.
Set up a help desk, to handle queries and possible product problems they may have. The difference between this method and the one above, is that in the previous scenario you take the initiative when in this case, you let the customer know that you are there for them. Remember to answer their queries fast.
In relationship marketing we try to give value and enhance the relationship between us and the customers. When the customer realizes the value of relationship, they are drawn closer. We can update them on new upcoming products, offers or courses that you may be organizing. Invite them to join in.
We should always keep in mind the customers have many options in the market for the same product or service and the customer is entitled to make a selection decision. In such competitive market, businesses try to maintain their customers by providing comparatively better products and good service and hence, achieving 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. So if sufficient number of existing customers is retained, there will be no need of acquiring new customers.
Once the customer trusts you enough, he will consider buying other supplementary goods that you provide. When the customers are satisfied with the product, they will become a living advertisement and recommend it to his friends and acquaintances.
Thus the main aim of relationship marketing is to construct and maintain relationship with committed clients who are meant to bring profit to you.
With these tips, you are ready to retain your customers. If you like to have more tips on building your internet marketing empire, download your free report at http://www.happytomakeyourich.com
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