Relationship marketing is the one whose objective is to generate beneficial relationships with customers, this marketing is oriented towards the study of the behavior of buyers, designing strategies and actions whose purpose is to promote interaction with customers, providing an unforgettable experience. When the marketing strategy encompasses the entire company it is called "comprehensive relationship marketing."
One of the tools widely used in relationship marketing is: customer relationship management systems, these are very useful to collect information from consumers and communicate to them the advantages and solutions offered by the company.
The objective of relational marketing is to be able to build ever deeper and more satisfactory long-term relationships with customers that directly or indirectly influence the success of marketing activities in the company.
Within relationship marketing, it is composed of 4 key elements: customers, marketing partners (suppliers, distributors, channels, agencies and intermediaries), and members of the financial community (shareholders, investors, and analysts). For marketers, the most important thing is to be able to generate harmony between all these components creating a balance in performance for all those interested in the business. Developing strong ties requires an understanding of your capabilities and resources, needs, goals, and desires.
Marketing experts believe that making a sale does not imply the culmination of the process, but the beginning of the company's relationship with a customer. The satisfied customers will return to a company that has treated well. If they require the same product or service in the future, they will know the first place to go.
In order to run a relationship marketing program, it is necessary to take the following steps into account:
Customer identification, in the case of relationship marketing, the segmentation process is much more complex and requires a greater effort, since each customer represents a segment, so once each of them is known, that's when can classify.
Customer differentiation, in this case, the company will assign each customer a specific value, this will depend on: the frequency of purchase, the amount of the purchase, the date of the last purchase.
Interaction with customers, by classifying customers by their profitability, makes it possible to reduce transaction costs and relationship with those who are below standards.
