At this Meetup we are Focusing on Relationship Marketing...to learn how to build successful Relationships with our customers, clients and business associates.

Did you know that as little as a 5% increase in customer retention can increase profits by 25 to 95%!!! Yet many businesses are still focused only on customer acquisition and see customers from the fragmented view of individual transactions.

*~*A New Marketing Model: The Learning Relationship or Relationship Marketing*~*

With competitors just a mouse click away, marketers need to create strong relationships with their customers in order to build loyalty and keep them coming back. With better customer insight, both online and offline, marketers can develop relationship marketing programs that are relevant to their visitors’ needs.

The goal of relationship marketing is to increase customer loyalty. At the core of this strategy is the concept of establishing a “learning” relationship with each customer. Every interaction you have with a customer is an opportunity to learn about their individual motivations. The unique measurability of the web takes this relationship to a new level because it provides greater insight into customer preferences and behavior.

Marketing experts Peppers & Rodgers have demonstrated that, “Even if a competitor offers the same type of customization and interaction, your customer won’t be able to enjoy the same level of convenience without taking the time to teach the competitor the lessons your company has already learned.” That’s a powerful motivator for them to stay loyal.

Gaining deep insight into visitor behavior at every stage of the visitor lifecycle is essential to successful relationship marketing. Businesses must move beyond the fragmented view of individual transactions and view customer behavior over the lifetime of the relationship. Customer behavior should be represented by a comprehensive cross-channel analysis of all customer data, allowing deep insights into customer preferences and motivations.

Moving beyond transactions lets you monitor individual behavior accurately across any time period and learn about customer preferences and motivations. It allows you to segment your customers, not just activities and transactions. Instead of reacting to transactional data (which is a mirror to the past) you can proactively meet the needs of your customers through relevant online and offline marketing programs and a personalized online experience.

Economies of scale—which provided benefits in the past to large companies running mass media marketing campaigns—no longer apply in the world of relationship marketing. Companies that have the most insight into customer behavior and motivation will have the greatest competitive advantage. They’ll also outperform companies continuing to operate on a transactional basis with their customers.

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To your continued success,

Eric Metzger

WeHoneyDo.com

425-775-6123

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