Are You Relationship Marketing

Customer relationships are the lifeblood of any good company.

Relationships between a firm and its customers, distributors, employees, referral sources, are vital to ongoing, sustained growth, and stability. Loyal relationships with these valued individuals make for a strong bottom line.

So, why do so few companies focus on customer relationship marketing?

That's a great question and the most probable answer is lack of understanding of the potential profits in keeping existing customers happy versus constantly acquiring new ones.

When you consider that 66% of customers switch from one firm to another because of a perceived attitude of indifference, it makes sense to devote as much attention to holding onto customers as you do on acquiring them.

Don't become indifferent. Develop a relationship marketing program that considers both customer relationship marketing, and customer acquisition.

With well-planned relationship marketing efforts, such as a greeting card campaign, you can improve client retention, and thus enhance your bottom line.

According to customer relationship management experts, firms can increase revenue by 50% if they retain only 5% more of their customers!

Do you want your share of that revenue? If so, solidify loyal relationships with your most valued clients.

Financial advisors tend to be driven, both financially and philosophically, to make cold calls, pursue new contacts, and acquire new clients. But often, little thought is given to nurturing relationships with those they already have.

Given that acquiring a new customer can cost five times more than keeping an existing one, this can be a costly approach.

Customers who are continuously courted, interacted with, and reminded of your presence are less likely to go racing off when competitors come calling. Making those customers feel recognized, known and appreciated can go a long way toward locking up their loyalty.

It's also a great way to get referrals.

Restore relationships that have eroded, or broken down. And win back these still valuable clients.

And think about the many ways that simple greeting cards can be used to both build and restore relationships.

John Houston's automated greeting card system lets you minimize the potential loss of a client or customer and also streamlines the process of acquiring new ones, all at a cost unmatched by other customer acquisition or retention systems. Visit his website by clicking here , email him at jsh53@comcast.net or phone, toll free, to 1-888-446-2498 for further details.

Author:.

Don Pooley, the author of this article, allows you to publish it if you include these credit lines: Copyright 2005, Donald F. Pooley, Inc. Don Pooley CLU, CFP, CHFC, "The Advisor's Advisor" has shared his marketing know-how with audiences of life insurance men in all major Canadian cities, London, Australia, Chicago, New York, San Francisco, Hong Kong, and Singapore, and now in his free ezine. To get more ideas on marketing your services, plus free ebooks, subscribe now at http:...

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