7 Simple Key Principles of Relationship Marketing to Attract Lifetime Customers!

Most of business owners fail to effectively attract and retain lifetime customers. What they fail to realize is the key principles of relationship marketing, that converts potential customers into repeat clients.

To succeed in your business, your main goal should be to build a responsive email list of lifetime customers from your targeted market who trust you, feel grateful to you and value your recommendation.

A good relationship with loyal customers is worth a fortune. That’s the most valuable thing any business can have. The key here is to build your large list of lifetime customers who trust you. Achieve this and you’re set for life.

For that reason you need to learn the key principles of relationship marketing to be able to apply relationship marketing concepts to your web site.

What’s Relationship Marketing?

Relationship marketing is the method of gradually turning website visitors into subscribers and leads them from position to position along a planned program to convert them into life time customers.

Think of relationship building as the foundation to your business. It establishes you as a professional, trust worthy and a consistent source.

7 Key Principles of Relationship Marketing.

Building relationship online is more difficult when compared to offline relationship building. The techniques used are almost the same. But, turning a potential customer into lifetime customer offline is easier due to the nature of the process. In online marketing you can’t meet your clients in person like in offline marketing. But, you can deliver what you want if you think of your potential clients in each step you make when building your business. Relationship marketing is a process, not just a one-time commitment. It starts the moment you think about building a business and continue as long as you stay in.

1 – Know your potential customers.

Before you start building your business; you need to determine your targeted market and know your potential customers. Learn how to know your customers to develop effective tactics for delivering your message to them.

You can start getting to know your customers by taking some very simple steps.

– Determine in advance where your potential customers congregate. – What newsletter they read? – What forums they visit and post to? – What else might do while surfing the net?

The best places where you find your prospects are forums, discussion groups and discussion boards. Visit forums of your targeted market and figure out:

– What’s your potential customers’ problem? What they are looking for? – What kind of business they are involved in? – How they want their problem to be solved? – What words they use?

Only by knowing your customers’ wants and needs you can successfully grow your business and be totally customer-oriented. In order to tailor your marketing and advertising strategies to appeal to the tastes and interests of your market, you must first identify your customer.

Relationship is not only based on knowing who your visitors are, but on knowing your customers’ and prospects’ specific needs.

Note: To attract more subscribers and build a strong relationship marketing the easy way use your prospects words. If you feel their pain and use their words when posting to forums, sending message, etc… they’ll be related to you. You will be one of them; you are not a stranger then they will be likely to trust you and consider your recommendation.

2 – Show your expertise.

The majority of business people, never completely and clearly display their knowledge to potential customers. Show to your targeted market you are the leader in your industry and they will follow you.

People like to learn about your experience. They like to follow the expert’s steps to avoid mistakes and reach success the easy way with less investment in time and money.

3 – Start a dialog to establish trust.

Set up a continuing dialog to establish trust. Trust is a vital step to building long-time relationship. This dialog should starts as soon as your visitors submit information along with their email addresses. This explains their interest in your business. In return, you give them what promised when they subscribed and keep contacts at periodic intervals by sending quality information to your subscribers.

Your goal is to create long term relationships marketing with your subscribers. To do that you must invest time to gather available sources and high quality information and put it at your prospects’ disposal to help them succeed. Remember, maintaining customer enthusiasm and creating customer loyalty is your key to success.

4 – Follow up

Dialog leads to follow-up. Hook your subscribers with your follow up messages series. Set up a series of follow up messages to send quality information to every new subscriber. Professionalism is the key to successful relationship.

The main purpose of follow up is to remain visible to your subscribers so, when the need arise and your prospect wants to make a purchase, your product will be the first one the subscriber thinks of.

If you want to make good money your mission will not cease at selling your product. Going after one sale is worthless. Following up with your customer after the sale is made is a great tactic. This important step will help you strength your relationship, decrease the refund proclamations and keep your customer baying from you again and a gain.

Keep following up; don’t stop and be creative. Don’t send your customers only sales messages. From time to time send free useful product they don’t find elsewhere that can help them make money and/or save time. Send special offers with discount for loyal customers only. Keep them up to date and to the point with latest news, etc…

5 – Offer good customer service.

Some people will start an online business and only focus on what services or products they can sell to make good money. They are not worried about establishing good relationship with their customers and potential clients.

– Answer your prospects’ requests as soon as you receive them.

– Replay to every email within 24 hours with the needed response whether it is a question, concern or simply someone looking for more information.

– Treat your customers right. Even if you offer the best products or services, most customers will evaluate your business by how they were treated while doing business with you. For that reason, it’s important to take care of your customers and give them the best product or service they want.

By providing great customer service to the people you do business with, you will get customers coming back to you again and again to buy your products or services.

Note: If you want to stay in your customers’ minds serve them better. You can do this by collecting information from your customers’ feedback. Having a contacts page on your website with a comments or feedback form will keep you informed about your customers’ wants and problems. If you publish a newsletter, you can also accomplish this by asking for feedback from your subscribers.

This is a great way of making your audience know you care about what they have to say and how important they are to you. When you show interest in your customers you will build credibility and loyalty.

6 – Educate your subscribers.

Put at your customers disposal manuals, frequently asked question (FAQ) web page, articles, etc… to help them learn how to use your product or service perfectly. Educate your subscribers to help them build interest and loyalty for your business.

Lifetime clients want you to be their trusted advisor. The more you educate your customers by offering them a variety of options, the greater your chance to earn their lifetime business. Education strengthens relationship marketing with clients.

7 – Sell or recommend only quality products.

Sell quality products that have value, plus offer a guarantee and stand behind it. One of the quickest ways to destroy a business relationship is selling poor quality products and not standing behind what you promise.

If you want to promote other marketers’ affiliate programs from your website, take the time to investigate the companies you advocate. Promote only products from legitimate companies with solid Internet presence. Remember the companies you suggest will have an impact on your business reputation.

Relationship marketing is the corner stone of every business. If you follow these key principles of relationship marketing, you’ll be on your way to building a responsive opt in email list which will lead to more and better sales.

Sales is Like Fishing

So many men and women today love to fish and love to take their children fishing. It is a relaxing sport that can be very enjoyable. Then comes Monday and we have to get back to selling, and we just don’t get that same excitement that we had while fishing. So this month, I want to show you how selling and fishing are so similar. This way you will enjoy fishing on the weekend, and love selling during the week. Let me know if I hooked the fish on this one.

In fishing it is very critical to find the right place to fish, a place that has fish that you can catch. This would be the first step in success. In sales, finding the right place to fish is finding a place that has prospects that you can meet, prospects that fit what you are looking for prospects that you can catch. So, whether fishing, or selling, you have to find the right place to do them at.

In fishing, if I know the great places to fish and do not fish there, but instead go to the places easiest to get to, the places closest, or the places I like to hang out best, I do not catch the fish I could. The same goes for sales, if I know the great places to prospect and yet I do not prospect there, instead I elect to go to the places that are easiest to get to, the places closest to me, or the places I and my buddies like to hang out at – then I never sell all I could.

The second point in fishing is you have to have the right bait, many times you have to have more than one kind of bait to catch the fish. Something the fish will bite on. If you don’t have the right bait, they will not bite and you will not catch any fish. Then you will go home with only a fish story about the one that got away.

Just as in fishing you need the right bait, in sales, you also have to have the right bait, i.e.: the right product. You have to have something people have to have, or something they want. Something they will buy. Otherwise, you will also go home with the story about the one that got away – a fish story I believe.

In fishing if I know the best bait to use, yet I do not want to spend the money for it, or it is inconvenient to get to where they sell it, or I do not like that bait and it is not fun or easy or simple or clean to work with, then I do not catch the fish I could.

In sales, if I know what I need to do, the materials I need to have, if I get a cheap business card, or I print my own brochures, or I do not spend the money to belong to the right groups, then I never get the business I could.

The third thing in fishing, you have to have is the right technique; you have to know how to cast, play the fishing, hook the fish. You can have the right spot and right bait, but your inability to fish will still send you home empty handed. Likewise, in sales you also have to have the right technique, you have to know how to build relationships, create opportunities and build proposals. To many times in sales we also know the right spot, we have the right product, but we are not very good at selling it – thus we talk about the one that got away.

In fishing if I do not listen and learn and practice the things I am taught about being a great fisherman. How to play the fish, how to hook them, how to reel them in, then I get no fish. The same thing applies to sales, if I don’t listen and learn how to do my job better, read, get educated, watch and learn from others, then I to do not learn how to be a great sales person.

Finally, in fishing you have to know how to bring the fish in, how to keep them hooked and how to reel in the fish and put him in the cooler. In sales, the final ingredient you have is to know how to bring in the client, keep them hooked and close the deal, “show me the money”.

If I cannot reel in the fish successfully, it doesn’t matter if I know the right places, use the right bait, or have the best equipment, or play the fish, if the fish does not end up in my net, then I am unsuccessful.

It is not any different in sales, I can be the greatest at networking, the one who has the best looking business cards and materials, the one who know how to meet with the people and get all the information, who knows how to put the best proposal in the world together, if I do not close and get a check, I am unsuccessful.

So, if you want to be the best at selling, then you have to:

1. Find the best places to meet the right people.

2. Have the right product/service

3. Know how to present your product

4. Close the deal.

Can you be great without doing these 4 processes? No, you can get good, but to get great you have to do all four. Just like to be a greater fisher, you have to do all four.

When I go fishing, I always visualize catching a big fish and catching many.

When I go fishing, I always believe I am going to catch those fish.

When I go fishing, I have prepared

I have selected the right place

I have secured the right bait(s)

I have the right equipment

I have read and practiced

I am going to catch fish.

When I go selling I always visualize closing a big deal and closing many deals.

When I go selling, I believe I am going to close the deal.

When I go selling I have prepared

I have selected the right place

I have the right product/service and technique

I have read and practiced and gotten great

I am going to close the deal

So next time you are out there selling and things just are not going the way you want them to, take a moment, and relate what you are doing to fishing and you might just take the big one home.

What Is Digital Marketing?

In the last decade, the reliance on the Internet has certainly changed the way in which business is conducted. It is clear to most business owners that without an online presence, your business is truly missing out on a majority of marketing, advertising, and success. Nowadays, anyone who is anyone maintains their own blog, social media platform, and of course a website. If you are a business owner and you do not have a website, you are neglecting to market yourself in the most effective way. That is why it is critical for every business to not only build a site for themselves, but also reinforce its presence through digital marketing.

What is digital marketing? And, how/why is this kind of advertising so important to a business? Let’s consider these important elements of online strategizing:

What is digital marketing?

In its very essence, this kind of advertising conjoins the promotion and advertising in an online platform. The basic principles, values, ad tactics of traditional marketing are still at the core of this innovative phase, there is a seemingly more insightful guise into the consumer behavior and target demographic. This digital promotion possesses all kinds of internet marketing, however it focuses on digital media. SEO is only one kind of digital marketing tactic.

The way in which digital promotion is enforced is another interesting property. Various sources can be utilized to promote products and services of a business, including websites, mobile devices, instant messages, and SMS among many others. In addition, the digital nature of this kind of marketing is regarded as one of the most cost effective means of advertising.

Two kinds:

Push digital marketing: Just as the name suggests, push marketing is projected to push the advertising information directly toward the target clientele. Often times, marketers will initiate the push marketing through email, RSS, or SMS, truly targeting the receiver or clientele with a personalized message. This means is also powerful in that it is easy to track, monitor, and measure the relative efficacy of the marketing.

Pull digital marketing: The pull method of marketing is aimed at garnering customers to come to you. The marketing for this means will be communicated to compel the individual to make a call to action or come visit your business. The most obvious or pervasive example is a web page, website, or any other Internet based medium. While this means of digital advertising is not as easy to personalize or track, it is still effective and powerful nonetheless.

The Marketing Environment

No business exists and operates in a vacuum, but as a part and parcel of the environment in which it finds itself. Efficient and effective marketing strategy is a function of the marketing manager’s ability to understand the environment in which the business operates.

The marketing environment consists of a set of factors or forces that operate or influence a company’s performance in its chosen target market.

Jain (1981:69) defined the marketing environment to include all those factors that may affect the organization directly or indirectly in any perceptible way. Marketing environment factors affects the organization by the way of input and the organizations also affect the environment by output. The relationship between the organization and the marketing environment is often referred to as “inseparable” the organization and it environment are constantly in a state of: give and take” or homeostasis.

The marketing environment consist of those forces or element that impacts on the company’s capability to operate effectively in its chosen target market.

The marketing environment is divided into two major components. The elements are,

Internal environment: the internal environment is concerned with the controllable variables. Controllable variables are categorized into two groups, they are; the strategy variables and unmarketable variables. External environment: the external environment is concerned with the uncontrollable variables. These variables are called uncontrollable because the marketing manager cannot directly control any of the elements. The marketing manager is left with the option of adapting to the environment by prompt observation, analysis and forecasting of these environmental factors. The external environment can further be divided into two components, the micro environment and the macro environment.

Micro environment:

The elements that fall under the micro environment consist of forces or factors in the firm’s immediate environment that affect the firm’s capability to perform effectively in the market place. These forces are suppliers, distributors, customers and competitors. Let us discuss each of the variables in details.

Suppliers:

Suppliers are business customers who provide goods and services to other business organizations for resale or for productions of other goods. The behavior of certain forces in the suppliers can affect the performance of the buying organization positively or negatively. The critical factors here are the number of suppliers and the volume of suppliers to the industry. An audit of the suppliers will enable us to appreciate their strength and bargaining power, which the suppliers hold over the industry as a whole. The answers to the issues concerned have the potentials to affect the capability of firms in the industry to effectively deliver need-satisfying goods and/ or services. The trend today is that buyers attempt to persuade the supplier to provide exactly what the firms want. This process is known as “reverse marketing”.

Customers:

Customers are those who buy goods and/ or services produced by the company. In a purchase chain, different people play significant roles before a purchase decision is made. The various influences must be understood. The customer may be the consumer of the products where he/she is the user. The critical factor here is that needs and wants of consumers are not static. They are fast changing. The changes in the preferences of the consumer create opportunities and threats in the market. The changes called for the marshaling of separate strategy to either fit into windows of opportunities or survive the threats in the market. A good knowledge of consumers’ behavior will facilitate the design and production of goods and services that the customers need and want, and not what they are able to produce.

Competitor:

A competitor is a firm operating in the same industry or market with another firm. The consideration here is that, Firm A produces a substitute to that of firm B (industrial approach) or firm A and firm B seeks to satisfy the same customer need (market approach.