Growing your business through relationship marketing is not only simple it can save you money. To keep your current customers it costs about 10% of the cost that it would cost you to acquire new ones. Relationship marketing is smart because when you create the like, know and trust factor you create customers who want to stick around. It gives you the competitive advantage over your competition.
The relationship is not only enhanced but its life period is increased by using relationship marketing. The customer realizes the value of relationship and they are drawn closer. Relationship marketing not only focuses on attracting customers to your products and services but also how to retain customers.
Want to know how to use relationship marketing in your business? Here are 3 easy strategies you can use to grow your business through relationship marketing.
Focus on your customer’s needs – You can either choose to focus on what it is you sell and your products or you can choose to focus on what your customers need and how you can serve them. The more you know what your customers needs are the better you can serve them and the more likely they are to stick around.
Connect on social media – Social media is a great way to communicate and grow relationships for your business when you do it the right way. The best way to use social media is like having a conversation. Think of it as talking on the phone rather than shouting with a megaphone. Interacting is what is going to build relationships; if you are the one doing all the talking and not listening to your customers you are missing valuable opportunities to build relationships.
Look for ways to add value – While it seems the norm today do the bare minimum to get business you can stand out by adding value. What can you do to serve your customer that goes above and beyond what is expected? As one of my favorite books, The Go-Giver puts it, “look for ways to give more in value than you take in money.”
Keep in mind that people want to do business with people they like, know and trust. Start building relationships and taking care of your customers needs and you will have no shortage of business.
Do you agree that relationship marketing can build a profitable business?
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