How Healthy are Your Relationships?
June 17, 2010
Grand Valey Business Times - By Cat Coughran, V.P. of Business Development and Relationship Marketing Expert
No, this article is not misplaced from Cosmopolitan, we are talking about your business relationships. Just like personal relationships they need connection, nurturing, and open and honest two-way communication.
Today’s new marketing paradigm is about creating long-term, authentic relationships with your customers. Marketing scholars and researchers have seen this change developing for some time. In his article “Quo Vadis, Marketing?” Swedish economist Christian Grönroos states, “A new approach in marketing is required. This new approach is based on the building and management of relationships.”
With the advent of Web 2.0 technology and sophisticated customer relationship management (CRM) tools, this new marketing paradigm has moved from the subject of academic papers to primary expectation of your customers. They are demanding that you get to know them. They want you to listen, communicate and create a connection with them.
The Search
Any good relationship starts with connecting with the right person. Just like dating, you have a certain type of person who interests you. In relationship marketing, this person is called your Ideal Customer. Your Ideal Customer is someone who believes in your brand promise and can connect with you on an emotional level. Your Ideal Customer is, in essence, your Dream Girl or Mr. Right.
Now that you have defined your Ideal Customer, you have to put your organization’s best face forward, get out there and find them. This is the time to assess your company’s brand assets, traditional media mix, new media applications and PR initiatives to ensure that you are reaching and connecting with your Ideal Customer.
Courtship
Now that you have connected with your Ideal Customer, it’s time to nurture the relationship. This is akin to the courtship period of a personal relationship. When you are courting a romantic interest, you take the time to really get to know the person; you memorize the important things and share relevant information.
This same process also applies to relationship marketing. This is where your company’s CRM tools and sales systems come into play. A well-utilized CRM tool with a defined sales process allows you to learn and remember all the important information about your Ideal Customer. These same tools and processes, along with your website and social media strategy, allow you to share information about your company in a meaningful and timely way.
Commitment
The goal of Relationship Marketing is to create long-term, one-to-one relationships with every one of your Ideal Customers. In his book, The Referral Engine, John Jantsch suggests that the old marketing paradigm of Four Ps—product, price, place and promotion—have been replaced by the Four Cs—content, context, connection and community.
The Four Cs are the building blocks of a good and lasting relationship since they define honest and open communication. You need to:
- Deliver meaningful conversations that have relevance to your customers.
- Use technology and personal touches to create real connections and a sense of community.
- Give customers the opportunity to communicate their likes and dislikes, then listen and respond.
Like any long-term relationship, the relationship with your customers takes time and effort to create, nurture and sustain. With a clear understanding of who your Ideal Customers are and how you connect with them, technology enabled sales systems and meaningful, open communications, you will create loyal brand champions who are engaged with your organization for the long-term, thus creating a perfect—and profitable—union.
About Ryan, Sawyer & Whitney
Ryan, Sawyer & Whitney is an integrated marketing, advertising and business development firm based in Grand Junction, Colorado. For more information, visit www.rswpartners.com or call 970-241-4773.
