“Always remember that everyone with whom you have a relationship has an invisible sign on their forehead that says ‘Make Me Feel Important.’ Treat them accordingly.”
— Eric Philip Cowell, Estate Agent Developer & Music Industry Executive
“How well do you relate to your customers?” If your immediate, off-the-cuff answer is some form of “We’re good,” maybe you should take a step back and evaluate the situation further.
Because the answer to the next question requires no thought at all. “Would you like your business’s bottom line to increase?” Of course, you would.
The key to overall business success and those greater profits you aspire to will forever be entwined with the relationships you establish with your customers. So, we’ll ask again, “How well do you relate to your customers?”
It all comes down to how well a company grasps and then executes the concept of relationship marketing. So, first things first, what is relationship marketing?
According to Caroline Forsey, “Relationship marketing is a marketing strategy that cultivates deeper, more meaningful relationships with customers to ensure long-term satisfaction and brand loyalty. Relationship marketing is not focused on short-term wins or sales transactions — rather, it is focused on delighting customers for the long haul.”
And why does relationship marketing matter so much?
Research has proven time, and again that customer retention is critical to business success –and while reeling in the new customer is thrilling, it’s also expensive and time-consuming. Stats about existing customers include these attention-grabbing numbers.
- The probability of selling to an existing customer is up to 14 times higher than that of selling to a new customer.
- Increasing customer retention rates by 5% increases profits by 25% to 95%.
- Existing customers are 50% more likely to try new products and spend 31% more, on average, compared to new customers.
But let’s be clear: “connecting” does not make a relationship. Via the wonders of technology, we can “connect” with anyone, anywhere in the world. We do it billions of times a day on social media with the mere click of a finger. A wave, a LIKE, a random comment. But relationships require commitment and time to grow. They must be allowed to blossom and not held to the immediate gratification virus plaguing our culture.
So, what does commitment and time to grow look when establishing and nurturing relationships with your customers? Since every company is looking for long-term, loyal customers, how do we create a relationship that turns first-time or casual customers into long-term, loyal customers?
The HOW of relationship marketing begins with creating an emotional connection with your customers. You want to tap into their feelings because the more emotionally connected a customer feels to your brand, the more they will spend. You establish this deeper relationship by zeroing in on these elements.
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Building trust
Every relationship in our lives includes an element of trust. The same is true for the business/customer relationship. But remember that talk is cheap. Telling customers that they can trust your company means nothing. So, show them they can trust you by delivering on your word every time, announcing awards that your products have won, and including rave reviews on your website. Demonstrate trustworthiness, and you won’t have to mention the word trust.
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Show the personalities behind the logo
People develop relationships with people. Sure, they like your business and products, but it’s the people who make the business what it is. And they are the ones who connect with customers daily. So, introduce your staff via social media and your website. Post their photos. Make them real by sharing their passions and contributions.
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Inspire confidence by maintaining consistency
Maintain a consistent brand in your advertising campaigns, sales presentations, on the website, and via in-person encounters. A consistently thoughtful and thorough brand that treats everyone the same everywhere, regardless of how many locations the company operates. The goal? That the word excellence becomes synonymous with your brand.
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Deliver a stellar customer experience every time
Good won’t cut it. Great may not be enough. Today’s consumer demands a stellar customer experience. And what better way to connect emotionally with your clientele than to send them on their way buoyed by an over-the-top, satisfying-in-every-way experience?
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Seek their feedback
Another way to deepen the relationship with customers and make them feel valued is to ask for their feedback and suggestions. How can we improve? What if anything could have made your experience better?
When striving for that emotional connection, avoid one-size-fits-all approaches. Instead, customize campaigns that speak to your primary demographic, utilize strategies that target those things you know to be most relevant to your client base, and focus on the personal aspect of customer relations.
Those are the same elements we prioritize at ASJ Partners. Cookie-cutter campaigns have no seat at the table here. One-size-fits-all is not even part of our vocabulary. Instead, our goal for each of our recruiting and staffing agency clients is to create a unique, customized, and highly targeted marketing program. We know the industry, and our specific process will help you Sell More, Win More, Grow More, and Be Found More. It’s time to experience the ASJ difference!
