Relationships with customers, clients, competitors, employees, and other stakeholders impact a company’s success. Relationships are built on trust. And trust is one of the most successful growth drivers for a business. And this is also the concept behind relationship marketing. To let people in. By honest communication, exemplary service, and building trust.
Relationship marketing is a mindset which helps you focus on the big picture rather than temporary success. In this digital age, it is crucial to have an open mind and an enterprising spirit. That means directing your marketing efforts to cultivate relationships rather than completing targets.
We will see more on how integral relationships are in an enterprise and how to put it into practice.
What a Perfect Relationship Marketing Approach Entails
You say relationship marketing. We call it relationship building. A client-centric marketing strategy would ideally focus on the customer experience, therefore, the relationship. In a nutshell, this is what the perfect relationship marketing approach entails – the ultimate customer experience.
A practical relationship marketing approach:
1. Helps People Emotionally Connect with your Brand
The more emotionally connected people are with your brand, the better the visibility.
When you believe in offering the best product to your customers and make an effort to understand your audience’s needs, they will consistently support your brand like they are a part of it.
Relationship marketing that focuses on analyzing customer needs in-depth coupled with a clear understanding of your brand strategy results in customer loyalty and increased Customer Lifetime Value.
2. Helps Delivering Exceptional Customer Experience
Tom Knighton, Executive VP at Conversant said it best — “Customer experience is the next competitive battleground. It is where business is going to be won or lost.” The only way to deliver the best customer experience is by having a healthy relationship with your customers.
The ideal relationship marketing approach entails shifting your strategy from the traditional sales funnel to the more organic flywheel approach. A flywheel model is a sustainable marketing approach where an organization focuses on providing a remarkable customer experience rather than achieving targets.
Customer satisfaction powers the flywheel. Their happiness drives the wheel and nurtures the business with referrals and repeat business. Research backs a crucial finding that 64% of people find customer experience more important than price. Therefore, having customer experience as the metric to measure the success of a marketing strategy rather than closing a sale enhances the quality of success.
3. Helps you Make the Best out of “Word of Mouth”
Appreciation, criticism, or any form of grievance spreads like wildfire because a particular product/service has hooked people’s attention enough for them to rave about it.
Word of mouth is a brilliant and all-time successful marketing strategy to elevate your brand presence by grabbing people’s attention and getting them to spread the word.
However, word of mouth isn’t as effortless as it sounds. You need to give your customers a unique and delightful customer experience making them want to share their opinions online with their friends and family.
When your consumer leaves a positive review, their friends, family, and peers are likely to want to test you out because it is a recommendation from someone they trust. And this is why 84% of consumers trust recommendations from friends/family for making a purchase decision.
And it’s the same thing with online reviews from present/past customers. People want to put their faith in customer experiences rather than direct advertising/marketing because it is more personal and trustworthy.
4. Enhances Customer Engagement
Customers today do not want to buy into fad anymore. Instead, they’re conscious individuals who want to invest their money and trust in organizations that are willing to make a difference, support a cause, or are environmentally conscious while striving to provide the best customer experience for their money’s worth.
As a core relationship marketing strategy, customer engagement is our prime focus. Also, research tells us that fully engaged customers result in 51% more income than disengaged ones.
And the golden way to successfully engage customers is by reaching out to their hearts. With honest service and thoughtful gestures. With something that gives them the feels. No quid pro quo. Yes, with gifts.
Gifts add color and joy to celebrations. It brings people closer and adds a touch of magic to the occasion. What better than gifts to get them talking? Not just talking. Clicking. Sharing. And Celebrating.
Thoughtful gifts on special occasions like festivities, anniversaries, closing, holidays, etc., would enhance your reputation and solicit your customers’ continued trust and loyalty for a lifetime.
And therefore, it’s time to explore Eva.
Eva – Your Customers’ Favourite Gifting Genie
Eva is an AI-enabled, end-to-end gifting multitasker for all your gifting needs. Employee gifting, sure. Client gifting, obviously. Holiday gifting, check out the options. Real estate closing gifts, got that covered too.
Personal or professional, Eva is a gifting genius that manages everything from curating the gift to ensuring timely delivery. But that’s not all. You can integrate Eva with your CRM and have Eva send notifications on special occasions that warrant gifting!
But that’s not it either. The best thing about Eva is its exclusivity. You need not worry about your customers/clients liking your gifts because Eva’s gifting AI decides on the most suitable gift based on customers’ preferences!
Once you specify the budget and send Eva’s gift links to the recipient, Eva chats with the recipients and analyses their tastes and interests.
Armed with this information, Eva curates the perfect gift which would appeal to client preferences.
Eva’s AI accommodates diverse individual interests and likings with a library of data-driven gifts catering to everything from tasty treats to baby needs.
With personalized corporate branding and handwritten notes, your customers would be amazed by the depth of emotion and effort put into the gift because it expresses your appreciation better than anything else.
When your customers feel that you value them and understand their needs, they will engage with you and bring in more referrals.
And a good relationship marketing strategy will guide you in delivering the best customer experience.
Try Eva now to express love with gifts!