by Malay Shah
on Dec 18th, 2007
on Dec 18th, 2007
Relationship Marketing: Business Blogs are the Key
Relationship Marketing. You’ve often heard the term used, but were never really certain what it meant. It does sound kind of touchy feely, doesn’t it?
Really all it means, however, is building good long term customer relations through interpersonal communication. Relationship marketing looks at customers and clients over a longer term. It takes into account the lifetime value of a customer. Many experts think it costs anywhere from six to ten times as much, to find a new customer, than to sell to an existing one. With those financial realities in mind, the approach makes some sense, and some real dollars.
It’s a hectic day. You are 40 minutes late for an important meeting and stuck in an annoying traffic-jam, drumming your finger impatiently on your car steering wheel, just waiting to zoom off ahead of the cheeky driver who overtook you at the signal. Suddenly, a familiar “jingle bells” floats from his car radio and before you know it you are humming along and even smile and wave as you pass him by.