Characteristics of Relationship Marketing

Introduction

How do you identify a firm that focuses on relationship marketing? A firms whose culture is focused on relationship marketing may displays the following characteristics:



  1. Customer retention is a priority. The firm knows that existing customers will spend more on the firm in the long term then those customers that shop there once or twice.
  2. There is emphasis by the firm and a real attempt to try and develop a long term relationship with the customer. Offers may be personalised and CRM systems established to try and understand needs.
  3. Rather then selling the product, the firms focuses on how the product or service will compliment their customers life e.g. focusing on the benefit of the product to the end user.
  4. The company focuses on the long term. Offers and publicly rewards loyalty.
  5. The customer is contacted on regular basis either through direct mail , or email to inform them of new product launches.
  1. If the customer has a problem they can contact the organisation in different ways, e.g. telephone, web chat, email or walk into the store.
  2. The firms trains all their staff in customer care and quality control forming a culture of quality within the firm.
  3. Large regular customers have account managers to manage the relationship with the firm.
  4. There is great emphasis on trust by the firm.

Conclusion

A firm that displays characteristics of relationship marketing is forward thinking and puts the customer at the centre of its thought process. The firm will personalise offers, and stay in regular contact with their customers. Relationship marketing is crucial for all organisations in order to develop a long term relationship with their customers. Firms must have certain processes in place if they are to put the customer first.

 

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