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#The Daily Edition-#Business-What is Relationship Marketing? How does it influence Your Home Based Business


What is Relationship Marketing? How does it influence Your Home Based Business

Keep growing and learning new things.


It's critical to understand that relationship marketing is a process, not a destination. It may be difficult to notice the effects of your efforts at first, but persevering through the difficulties is the only way to achieve success. One method at a time is the ideal plan; start with exceptional customer service and work your way up to other methods as time permits. Don't overextend yourself by trying to do too much at once. Start tweeting, emailing, and posting on Facebook all at once if you're just starting out, but you'll quickly burn out.


Always keep in mind that the emphasis should be on delivering value and being helpful.


At all times, be open and approachable.


Even if your competitors continue to use approaches more akin to old-school transactional marketing, a skillfully executed relationship marketing effort will surely establish you as the industry leader over time.


What You need to remember:


*First and foremost, ensure you have the basics down pat. Make an effort to be approachable, open, and sincere.


*Before you start expecting results, give it some time.


*In all of your communications, strive to create a two-way conversation rather than an all-or-nothing relationship.


*Offer no-strings-attached free materials to build trust and authority.


*Concentrate on adding as much value to your consumers' lives as possible.


*It's okay to make mistakes; it may take some testing to do it right the first time.


*Put real people in charge of customer service and make it a top priority.


Resolving Disappointment with Customers


Whatever your company's management style, you'll have to deal with an unhappy customer at some point. Good customer service is vital for every organization, but if you want to be successful with relationship marketing, you must get it right. Every complaint should be viewed as an opportunity to win a customer for life. This is your opportunity to demonstrate to them how you differ from the competition and how much you value them as a customer. Those clients who had a bumpy start but got their problems resolved in the appropriate way tend to be the most loyal. These tips mostly revolve around how to behave as an individual rather than a business, while also remaining honest, open, and respectable.


React as soon as possible.


Jen,a disgruntled customer, has no time to waste waiting around for an answer. This person is desperate for a solution and expects you to give it your full attention. If a client complains openly on social media, responding quickly is critical to preventing a situation from snowballing into something far worse that's nearly impossible to recover from. Unless you take the complaint seriously, even one unhappy customer with a huge following on Twitter may do a lot of damage to your business. If a consumer contacts you via email or Twitter, be sure to respond as quickly as possible. Keep your inbox open all day if you don't receive many complaints, and respond to them as soon as they arrive.


Take care of the problem yourself if you can.


Returning to the relationship marketing tenet of acting as a personable individual rather than a faceless organization, you should, wherever feasible, engage with the most problematic clients personally. This accomplishes a dual purpose:


*It conveys to the customer that you value their business and are attentive to their concerns.


*Provides you complete control over the process and reduces the likelihood of a complaint being handled incorrectly.


Consider the last time you needed to get in touch with a large company's customer support department. Think about how you'd behave if the CEO came to you and promised to fix the problem. You'd probably get the impression that they value your business and are motivated to maintain you as a customer. As the CEO can't be expected to handle every issue in a huge firm, dedicating an hour a day to dealing with the most urgent and vocal ones may be time well spent.


Don't let your emotions get in the way of the discussion.


Although it should be self-evident, you must not take any criticism personally. Even if the issue at hand is your own work performance as an employee. You run the danger of making things worse by becoming involved if you can't let go of your emotions totally. Keep in mind that they aren't unhappy with you personally, but rather with the issue as a whole.


Although the complaint may be unfounded, it's always crucial to respect your customer's feelings. It's possible he or she is having a bad day in general, and the minor issue with your product or service has come to symbolize everything they're upset about in their lives. It's possible that you'll gain a customer for life if you can transform this negative experience into something beneficial for them.


Keep your word and take responsibility for your actions.


Problems can occur for many reasons, but it's crucial to be able to admit when you're at fault for them. We'll return to this connection marketing tenet later. Transparency and honesty are key attributes of a successful organization in relationship marketing. Making errors is a part of life, and being ready to confess them makes your business seem more approachable. Even if you haven't done anything wrong, let the consumer know you'll do your best to make things right.


An excellent illustration is an online store that experiences a package mishap en route to a customer. In a technical sense, you have no responsibility for this. The consumer, on the other hand, could care less who is to blame; all they want is for the problem to be remedied. You'll lose your customer's trust if all you do is place the blame on the shipping company and never provide your personal assistance in resolving the problem.


Reimburse the victim.


Every monetary loss harms a small firm. When a customer asks for a refund even when they aren't entitled to one, this is especially true. In this case, the cost of not providing them with a refund must be taken into account. Even if they don't buy from you again, what will their friends think? Will they post something interesting on Twitter in response to this?


Most of the time, it's better to offer a refund and/or some more compensation on top of that just to be on the safe side. If they continue to slander your firm on Twitter, you may simply inform everyone that they were duly refunded and have little reason to be upset. A few of these clients will be so moved by your generosity that they'll recommend you to their family and friends. A short-term setback transforms into a long-term advantage in this situation..


Customers who vent their frustrations on social media


Consumers now have more power than they've ever had thanks to social media. Regardless of how you feel about it, this is a reality you must face. We've already talked about how critical it is to respond immediately when customers take to social media to air their grievances, but here are a few other considerations:


To begin, it should go without saying that you must answer to each and every one of these public criticism on the internet. A subpar reaction is far worse than none at all.


Second, don't try to "hide" the topic by making it private. That'll raise a red flag for anyone else who happens to be looking. An estimated 1 to 1 million people follow you on Twitter, keeping tabs on your every action. Making things right with your consumer is only half the battle; getting the word out to others is equally important.


Treat it like free advertising.


If you are successful in resolving this issue, many others will witness it and have a favorable opinion of your business.


Section 3 Takeaways:


*Make the most of every customer issue or complaint as a way to improve your customer relationship marketing efforts.


*A consumer will become furious if an issue isn't fixed as rapidly as possible if it's not.


*When at all possible, try to deal with issues on an individual basis. Even if the consumer is irate with you or your organization, keep your cool and be professional at all times.


*If you've done something incorrect, own up to it and learn from it.

Always make customers whole, even if it costs you money in the short term.


*Pay attention to social media complaints and take action as soon as possible, in front of a large audience.


To sum it up


Whatever your level of familiarity with the notion of relationship marketing, it should be clear that the most important part is providing excellent customer service and staying in touch with your clients. Good customer service and staying in touch.


Because every sector is unique, you'll need to develop your own "magic formula" that works well for your particular situation. Do not be afraid to explore or to expect to make mistakes along the road. Keep in mind that you may not see a return on your investment (ROI) for a while, but if you stick with it, it will pay off.


When in doubt, imagine how a large, multi-national telecommunications company might behave. After that, make a 180-degree turn.


More to come-doing some soul searching when it comes to Relationship Marketing..