Relationships are everything. You grow relationships among peers and employees through team building. You nurture relationships with your loved ones by spending quality time and having open communication. So, how do you cultivate the relationship between your business and your customers?
Spoiler alert: It’s called relationship marketing, and it’s vital to your company’s success.
What Is Relationship Marketing & How Does It Help?
The primary objective of relationship marketing is to build and maintain long-term connections with their customers. Businesses that practice relationship marketing work to understand their customers’ needs, preferences, and behaviors — and tailor their marketing efforts to match them.
- Increased loyalty
- Sustained customer satisfaction
- Reduced customer turnover
- New customer acquisition
- Stronger brand awareness
- Improved reputation
- And ultimately: Limitless revenue growth 🎉
The BxH Approach To Relationship Marketing
We believe investing in your human connections is the most important action you can take for your company. Naturally, that means we are BIG on relationship marketing around here.
Think of it this way: A customer’s lifetime value to a company is far more important than any single transaction. The latter can click “buy” and then you’ll never see them again. But the former will remember your company’s name, open your emails, and return to give you business for as long as your relationship exists.
Relationship marketing isn’t new by any means — the modern version of the concept can be traced back to the 1970s. But although we have our core methods down to a science, we’re always looking out for norm-smashing tactics to implement relationship marketing strategies based on our clients’ needs, target audience, and services they offer.