Definition of Relationship Marketing
Relationship marketing is concerned with developing and strengthening your relationship with both your current and prospective clients. It differs from other marketing schemes as it aims to value the long term contribution that your customers ultimately make towards your business.
Admittedly with the development of the Internet and sites such as Facebook and Twitter, relationship marketing in a sense has become easier for small and home based business. However it is imperative that you recognise the value of these mediums and use them to their full advantage. Focussing on an overall strategy to tie in your website and other avenues to promote your products and services but keeping the focus on your customer is invaluable.
Relationship marketing requires more than just an overall knowledge of business marketing. It requires you to have a broad awareness of SEO (Search Engine Optimisation), social media, customer service, blog development and public relations.
The mistake many businesses make is that they use such marketing opportunities to reach out to potential clients by way of a strong sales pitch. But with the ease of being able to opt out of such things as newsletter and Facebook updates, the focus on meeting clients' needs is stronger than ever. We as consumers are being constantly bombarded with things to try and buy, therefore unless you take a more intelligent approach, your efforts will be wasted.
Permission based marketing is one such facet of this type of marketing which as it suggests, requires a customer's permission before they can be approached. This type of approach allows you to nurture your prospective clients and bond with your current customers. And thanks to technology advancement, we are now able to track newsletters, learn what our customers' preferences are and what products and opportunities whet their appetite.
Blogs are another aspect which allow you to connect directly to customers and provide a means for direct feedback. Facebook, Twitter and other social media options as well as participation in forums and publication of lenses and intel also allows for this direct communication stream.
Search Engine Optimisation (SEO) is one of the most complicated aspects of relationship marketing. It requires a direct focus on search engine keywords, article management and article submission to develop much needed organic links back to your website essentially raising your visibility on the major search engines. SEO gives the business owner more control over the way in which a prospective client will encounter your website and which website page they will land on initially. A relevant article which sparks interest may be just enough impetus to gain a new subscriber rather than just a link to the home page.
Research has long shown that relationship marketing is a much more affordable approach in terms of a company's budget as it focusses on current customers and clients rather than to blindly blanket individuals who may have no interest in the service or product you provide. Customer loyalty particularly to a small business is key to a company's survival so it makes sense that this is of main focus.
Making money online is a common dream held by many aspiring entrepreneurs but in spite of all the marketing gurus out there offering to tell and show you how to do it (for a price), anyone who's been involved in trying to set up an online business for any time at all will tell you it's not easy. Even with step by step guides, there's always more involved than initially meets the eye.
Even when you know what needs doing - and this applies equally to veteran marketers as well as newbie marketers - it is often a question of having the time (or more exactly not having the time) to do everything.
Seasoned online marketers will tell you that trying to do it all yourself (from product design and creation to website creation, copywriting, marketing and traffic generation) is the way of madness and will stress you out both mentally and physically. The common solution here is to propose outsourcing of tasks that you either don't want to do yourself or are unable to do yourself to a satisfactory level. This sounds like a good idea on the face of it but even outsourcing jobs brings its own problems - how do you find the people you need, how do you know you can trust them, and how much will it all cost? It also presumes a certain level of organisation and management skills to bring together all these external sources which is sometimes just not there.
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