What is the relational marketing?
Relationship marketing is a long-term strategy focused on creating close relationships with your customers.
Not only is it more profitable to market to existing customers, but long-term customers are also less likely to change their minds, and the longer you have a customer relationship, the more profitable it will be.
However, most companies continue to focus on transactional marketing, as this focuses less on building long-term relationships and more on increasing individual sales.
Since transactional marketing prioritizes the sale and not the customer relationship, it can often lead to a poor customer experience as companies move from one customer to another, rather than investing more effort in success. the client’s.
Very few companies invest in relationships with their clients, it is undoubtedly a great growth opportunity.
Companies that invest in relationship marketing get a much higher return on investment compared to transactional marketing.
So what stops companies from investing in relationship marketing?
The answer is simple: the lack of strategy!