The term “marketing” doesn’t usually conjure up warm, fuzzy feelings about business-customer relationships. It’s typically seen as a verb enacted by a company on a customer. By putting a single qualifier in front of that word, you can change the whole definition. You might even change the attitude of your customers toward your business. We’re talking about relationship marketing.
It’s a Marathon, Not a Sprint
Relationship marketing is a long-term customer strategy. It’s a personalized approach to customer service. By providing communications specific to a customer’s needs, the goal is to foster loyalty by truly building relationships. Rather than viewing a customer as a one-time sale, they become an investment grown through products and services.
Relationship marketing is different from transaction marketing. The typical cycle of making single sales is broken when a business works to maintain a bond with a customer. It’s about asking why your service is being used—what need does it fulfill?—and then putting in the effort to achieve customer satisfaction and investing in return business. This concept is something we value at Key West Video and something we work on. Repeat business is vital in our industry. Video marketing continues to grow in popularity and increasingly our customers want to make not just one video, but a variety of videos.
The heart of relationship marketing is your business team. If we create a good video, but the process to get there was difficult, our customer may not use us again. But if we address the issues from an internal perspective, then we can avoid a similar situation in the future and retain customers. Relationship marketing redefines your company from a faceless entity into a group of hard-working individuals. It puts a personal stamp on business and instills confidence in the customer.
Show Your Appreciation
Small businesses often rely on local, return customers. B2P marketing can be especially important for a small business. One way to enact relationship marketing is to show your customers appreciation for their loyalty. Here are some ideas.
- personalized deals
- personalized videos
- holiday cards
- personalized ads
- expedited services
- rewards programs
Measuring the Success of Relationship Marketing
Relationship marketing touches on something we talk about a lot in video: making an emotional connection. When you take the time to consider a customer on a personal level, you connect with them. That can make a huge difference in how they feel about your product and your business. This connection is an investment that takes time because it should be authentic and genuine, not pandering.
Consider Vyvanse, a drug company that makes a popular ADHD drug. Even though this is a large company, they found a way to connect with their customers on a personal level by creating an extensive online portal. Consumers can find videos, articles, forums and even a mobile app related to ADHD. Vyvanse created a community for their customers and became a resource beyond medication.
An integral part of marketing is numbers. Is a strategy working? How well is it working? What is the measurement of success? Obviously, repeat sales would show your customer relationship strategy is working. Other metrics include the amount of money customers are spending—has it increased? Are your customers opening your emails and interacting with you on social media? In short, are they engaging with your business?
Making Customers Count with Relationship Marketing
Relationship marketing is work, but it’s the kind of work that feels good. When a business takes the time to treat a customer like more than a paycheque, both parties stand to benefit. Cultivating this bond means your customers may also become brand ambassadors and generate a strong reputation for your business beyond your direct actions. This positive word-of-mouth is something we strive for at Key West Video. We love to work with our long-standing clients, and we always welcome new clients and hope they’ll use our services for years to come.