Right now, a lot of customers are leading with their emotions when it comes to spending money. They want to feel safe while spending their money and they also want to know where their money is going. This is where relationship marketing comes in.

What is relationship marketing?

Relationship marketing is exactly what it sounds like. You want to build a strong relationship with existing customers. It is a strategy that is more effective and less expensive than some other types of marketing, but sometimes can be harder to fulfill if not done properly. This is because most marketing strategies put the sale first, and not the customer. In relationship marketing, customer satisfaction is everything. You want that customer to be happy, to trust you and return.

Why is it important?

How much does it typically cost you to acquire a new customer? If the number is staggeringly high, that should tell you exactly how important it is to hold onto that customer once you have them. While it’s nice to have customers, even if they’re only one-time buyers, the amount of untapped potential in a buyer that you can get to return again and again is unmeasured. Another level of importance in maintaining a close relationship with your customer is understanding their ever-changing needs. This allows you to grow and adapt with them while maintaining their business and your working relationship.

Emotional Connection

Studies show that a customer that is emotionally invested in your business will spend more money and tell more people about your business. So how do you reach customers on an emotional level? For some businesses and business owners this probably sounds pretty difficult. Here are a few ways to build an emotional connection:

Personality-The human side to a brand is becoming more and more important. Customers want to know your story, they want to know who is going to be using their hard-earned money at the end of the day. Show your customers who you are, who your family is. Put a spotlight on your hard-working employees.

Trust- Trust is built by constantly delivering what your customer needs when they need it and offering a product they can depend on.

Quality- when you offer a top notch product at fair prices your customers will depend on you.

Customer Experience- making sure your customers are happy, can get their products and services with ease, and treated well is so important to the customer experience.