Relationship Marketing Strategies Tools for UAE MBA Students
In this essay, we will discuss the relationship marketing strategies and tools.
Relationship marketing is defined as the marketing to build and maintain long-term relationships with customers. It aims to engage clients for a lifetime with the product or service that your business has to offer.
What are the strategies of relationship marketing
The strategy followed by a company to build and maintain relationships with customers refers to a relationship marketing strategy.
The motivation behind it is to satisfy your customers and make them feel special.
Tools for making effective relationship marketing strategies
There are various relationship marketing tools available in the market to extend customer engagement with your business.
In this article, we will discuss some of the tools in brief:
ERP and CRM investments
Enterprise resource planning(ERP) is a software tool used to organize daily business tasks. It works on a unique data structure with a mutual database.
Companies use it for procurement, accounting, risk management, compliance, supply chain management, and project management.
Furthermore, it can help businesses budget, plan, report, and predict financial results.
Customer relationship management(CRM) is a strategy used to maintain communication with clients and software technology used to analyze, report, and record relationships between an organization and its customers.
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Loyalty Reward for Customers
Nowadays, several companies organize referral programs for their loyal customers. It is necessary to celebrate and thank the users, businesses connected with your business for a longer time.
Besides, companies issue bonus points, cashback offers, and gift items for their loyal customers as a reward.
Email marketing is the cheapest and most focused marketing tool. Companies sent emails regarding exclusive offers, new product/service launches, asking for feedback, complaint resolution, exchange offers, any product or service issue clarification.
Additionally, marketers must verify the email before sending it to the customers using email verification software like MailChimp.
This software can send multiple emails altogether without spamming.
Websites, toll-free no., online chats
The online presence of a company plays a crucial role in maintaining customer relationships. Hence, most companies have their website ensembled with an online chatbot to help customers, visitors instantaneously.
Moreover, a company must have toll-free number services and an operating call center in the backend. That can enhance the satisfaction level of customers.
Sms marketing is an essential attribute of relationship marketing strategy. Companies can use SMS marketing to communicate new product launches, new offers, new branch openings directly to the clients. Besides, to give them holiday or festival wishes to build personal relations.
Social Media Marketing
Almost 95% of internet users use social media platforms like Facebook, Instagram, Whatsapp, Twitter. Thus, social media marketing can help in acquiring more customers with less effort and minimum investment.
Moreover, maintaining relationships with existing customers is also easier on social media. As it is free and chances of connecting with people are also more.
Open Customer Feedback line
Customers can provide their feedbacks via various mediums such as social media, toll-free number services, and emails. Companies must be open to implementing those feedbacks coming from a large number of customers.
A firm must create an open feedback line from customers up to company management and manage it regularly.
Tracking and Reporting customer success
Tracking customer success is a critical thing to do in relationship marketing. It requires monitoring of metrics such as:
- Channel acquisition
- Customer attrition/churn rates
- Brand Sentiment Analysis
- Customer acquisition rate
- Onboarding success rates
- Conversion rates
- Website traffic and analytics
- Retention rates
Companies can work with Data analytics and visualization tools like Tableau and Power BI for reporting customer success.
Companies should work on streamlining client experience to enhance engagement with the brand.
Moreover, automating various relationship marketing processes can do this deed.
Relationship marketing strategies like email marketing and social media marketing can be automated by various tools easily.
Furthermore, email marketing automated tools like Moosened
can generate and send multiple automated replies.
Besides, marketers can use social media marketing automation tools to upload multiple posts, videos, stories in advance without overflow.
There are so many brands available online. But only the brands maintain a good relationship with customers will last long.
Relationship marketing is an inseparable part of marketing to acquire and maintain customers.
So it is necessary to be aware of relationship marketing strategies and tools to make your customer relations unbreakable.
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