Why Relationship marketing, it’s better for customer loyalty and increasing sales.
Writing about this topic became important to me as I saw LOWES switch when the new CEO came on board. There have been a lot of changes which angered the community and the people who worked for them.
In a sales only based company the only thing that matters is sales. There are several ways to get sales, cutting back on service to the customers and employees is a short term gain. Not a very good one for long term growth. More transactional, this doesn’t provide any kind of rapport or loyalty with people who buy from you. You just don’t really care except for the money coming in.
A purpose driven company takes a look at everyone and all the aspects of the company and what matters. They will care about how their customers & staff are treated. They have statements that live up to their mission and vision.
They are more relationship based.
When you hear the term “Relationship Marketing” or “Kindness Marketing” it needs a mind shift. These two ways of using them in your business is much more powerful and long lasting in your sales cycle.
Can you afford to employ this type of marketing? The 80/20 rule comes into play. 20% of your customers will be more relationship based. Even with my pie business there are those who just buy for the holidays, or special events. Then there are those who love having of a engaging ongoing relationship with me they are 80% of the business right now.
What can you do to improve to have more of a relationship type business?
1. Are you sending out cards to stay in touch with your customers?
2. Are you asking your customers for their score of how you are doing? It’s called the Net Promoter Score. Just ask them from 1 to 10 are they willing to promote you or refer you to someone else?
3. Are you engaging with people on the social networks? 80% is purely sharing things that are important to you. 20% is promoting your business.
4. Are you being kind to people in your organization?
5. Do you have a vision or mission statement that you live by in your business?
6. Are you being kind to yourself first? Here’s some tips on how to.
Whatever you do, there are many articles and resources on this blog. If you have some ideas that you would like to share, please send them to me.