Thursday Thoughts: Relationship Marketing
What is Relationship Marketing?
Relationship marketing is a strategy designed to build and foster long-term relationships with customers. The goal is to establish customer loyalty for repeat sales; however, these customers also tend to act as good referral sources.
Think of brands you use and purchase from repeatedly. You have a relationship with these companies as they continue reaching out and selling to you. In comparison, there are companies you may buy from only once and never hear from again; you may not even remember their names.
In B2B marketing, we use traditional marketing in certain instances, but relationship marketing in others. We work with many companies that utilize us for the strategy and execution of their traditional marketing, but also have us oversee and aid in relationship marketing, alongside their sales team.