Relationship Marketing


What is relationship marketing? “Relationship marketing is about forming long-term relationships with customers. Rather than trying to encourage a one-time sale, relationship marketing tries to foster customer loyalty by providing exemplary products and services.” (Marketing-school.org).

If you are in any time of business whether it is for yourself or with a fortune 100 company, you are always marketing. And I have found that relationship is best form based on cost, time, and highest return on investment.
In present day society, marketing has become more expensive and difficult. The main reasons for this increase in cost is the high amounts of content. This causes for a not so new approach:  Relationship marketing.

One form of relationship marketing is ‘word of mouth.’ You often hear that the best form of marketing is ‘word of mouth.’ But, how many people know what this is? And how to do it?

“Word of mouth or viva voce, is the passing of information from person to person using oral communication, which could be as simple as telling someone the time of day. Storytelling is a common form of word-of-mouth communication where one person tells others a story about a real event or something made up (Wikipedia, 2020).”

Now, word of mouth isn’t just person to person, physically. But, now it has gone digital. Ramona Sukhraj describes digital methods to increase word of mouth marketing in her article 7 Must Have Word of Mouth Marketing Strategies.

All in all, if you are starting a new business or growing an existing one, relationship marketing is your best bet. Start with family, friends, fellow parishioners, etc. This is going to be best the form until you get better marketing budget and skilled experts to work on your marketing campaign.

~  Attorney Ronnie O’Brien Rice, Ph.D.

Twitter:  https://twitter.com/get_rice
Instagram:  https://www.instagram.com/getricephdesq
Facebook:  https://www.facebook.com/ronnie.o.rice

References:

https://www.marketing-schools.org/types-of-marketing/relationship-marketing.html
https://en.wikipedia.org/wiki/Word_of_mouth
https://www.impactbnd.com/blog/word-of-mouth-marketing-strategies-infographic


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