What is Relationship Marketing

Last week, we talked about 7 places to promote your list. Today on the blog, we are talking about what relationship marketing is and the elements of relationship marketing.

What is Relationship Marketing? 

I am going to share some definitions of relationship marketing according to some references. According to techtarget.com; it is a facet of customer relationship management that focuses on customer loyalty and long-term customer engagement. It is so much easier to get business from an established customer than to bring in new leads/customers. Doing one-off projects are fine to do, but relationship marketing will allow you to have retainer clients and retainer income.

Furthermore, there are elements of relationship marketing to include in your strategy. Here are some elements according to an article on hubspot.com.

1.  Be customer/client-focused in your business.

This will help you extremely in your business. It is all about how you can provide more assistance to your clients. The more you can do for your clients, the more likely they will stay with you. They will become a retainer client. This is key to continuing this relationship. Don’t be afraid to ask them what is becoming harder for them in their business and provide a solution.

2. Engage with your potential clients

Spend time and get to know their products and services. This is key to keeping that relationship going.

3. Finding ways to help them use technology to streamline their business

If you can help a client brainstorm how to best streamline their business, you will be a hero in their books. This will help their business run more smoothly and free up their time to make more income.

4. Offer them an incentive so they will continue their relationship with you

I have a referral system set up for my existing clients; if they refer someone to me, I give them an incentive. This is just one example of an incentive program that you can use for your clients.

5. Communicate with your clients

Always follow up with your clients on a regular basis. Ask them how you can support them and let them know that you are available to help them.

Next week, we will talk about how you can use relationship marketing in your business. Remember to stay connected!

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