Customer relationship marketing
Customer relationship marketing is the combination of strategy and
processes used to learn more about customers' needs and behaviors in
order to develop stronger relationships with them.
Think about
some of the relationships that are important to you. You have parents
and friends, and you have workmates and acquaintances. To a greater or
lesser extent you have a relationship with all of these people. Say you
have a number of roles, such as student, professional, son or daughter,
teacher, employer, employee, partner and so on. The customer
relationship marketing works in a similar way. The below articles will
give you a more in-depth view on this :
- Relationship Marketing
This is a marketing strategy designed to achieve long-term relationships with customers, suppliers, and distributors to improve overall profitability and success, irrespective of any economic condition. - Marketing Stages
The customer relationship marketing process is usually defined as a series of stages, and there are many different names given to these stages, depending on the marketing perspective and the type of business. - Why Relationship Marketing?
Customer satisfaction is the key to your business. If your business has done a good amount of CRM, then you have done a great job of keeping your business healthy irrespective of the economic condition.
Customer
relationship marketing is a philosophy of doing business, a strategic
orientation that focuses on keeping and improving the current customers,
rather than acquiring new customers. This concept assumes that the
consumer prefers to have an ongoing relationship with one organization
rather than switching organizations. Building on this assumption and
also on the fact that customer retention is cheaper than acquiring new customers,
the marketers of today offers prime importance in the strategy of
acquiring-satisfying-maintaining customers.
- Benefits of Relationship Marketing
Customer relationship marketing must be applied, which considers the mutual benefits derived from the creation of stable relationships between buyers and sellers. It helps putting increased focus on providing value to customers. It is a well-known truth that loss of one's customer is the gain of the competitor.
Marketing companies often ends up in doing lot more in getting new customers but often forget to do the precise little to find out what they should do to keep the customer in their hands. The above article will guide you on why it is important to do customer relationship marketing.
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Benefits of Relationship Marketing
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