Did you know?

Relationships are the lifeblood of every good company. Relationships between a company and their customers, distributors, employees. Solid, loyal relationships with these valued individuals make for a strong bottom line. Two-thirds of customers switch from one company to another because of a perceived attitude of indifference from the former company.

Don’t be a victim of indifference. Focus on loyalty and retention before it becomes an issue. With well-planned relationship marketing efforts that speak to an audience of one, you can impact retention — and that will impact the bottom line. According to CRM experts, companies can increase revenue by 50% if they retain only 5% more of their customers.

Businesses have invested millions to create awareness and brand recognition through traditional advertising and other efforts, however, they have spent relatively little to turn that awareness into loyalty. But that’s changing.

Traditional advertising agencies do a good job at helping you communicate to a mass audience. But, once individuals have been identified, it’s time to put relationship marketing strategies to work. Costly CRM systems help manage information, but until you put that information to use, you’re not making the most of your investment. Until you begin using that information to drive relevant marketing communications, it will fail to generate revenue.

You can’t afford not to tap into an individual’s potential lifetime value once that individual has developed a relationship with you. That’s true with customers, distributors, employees, past customers, even top prospects, and it’s not going to change.It costs five times as much to acquire new customers as it does to retain current ones.

There are many factors that impact loyalty, beginning with your product satisfaction and customer service levels. But the often forgotten factor is communication — the foundation of any solid relationship.

Imagine the individuals that matter to you most receiving timely ongoing communications from the people they know and trust, recommending products and services that are specific to their unique situation, and saving them time and money with little or no effort from their end. It can happen. Relevant marketing communications utilizing 1:1 strategies can be the differentiating factor that creates relationships your most valuable customers are unwilling to walk away from.

Let your customers know that their business matters.
Develop communications that are meaningful, exciting and relevant.
Lock out the competition.
Build profitable relationships.