Why is the internet a suitable medium for relationship marketing

Relationship Marketing Using the Internet

why is the internet a suitable medium for relationship marketing

The Internet as a marketing medium – An introduction to Search Engine suitable keywords for the host company, as well as to provide Relationship marketing is most commonly believed to have become a dominant mar-. Key words: relationship marketing, Internet, e-tailing, consumer research. suggests that RM in the consumer market is only suitable for certain relationship- friendly . In the traditional retail market, without an efficient communication medium. Introduction. With the advent of the internet and big data analysis, organizations have been able to use relationship marketing and database mining as a.

So companies need to develop strategy to retain them. For the most potential customers' companies need to develop strategies under which they become frequent buyers.

Electronic Customer Relationship Management The concept of developing strategies through usage of the internet and other digital platform for customer relationship management is called as electronic customer relationship management. The activities likely to get covered in customer relationship management are: Website as a base for customer development.

Applying internet to upsell and cross-sell. Great customer purchase experience. The internet is used extensively for relationship marketing by integrating customer database and web site. The key benefits of e-CRM are as follows: Customer marketing becomes more cost effective and return on investment is much better as companies are able to develop more focused strategy. The marketing messages can be made more customized and cost effective with use of emails. Customer can be served in much more in-depth fashion by providing them specific information.

This also increases contact frequency between the company and the consumer. Digital technologies like email, online chat, rich web content its help company reduce their overhead cost thus improving their bottom line.

The customer relationship management provides key support to marketing activities through the following: Sales forces receive active support in efforts by providing them real time customer related information.

Relationship Marketing Using the Internet

Customer service agents are able to effectively serve consumers as they have a ready database containing customer and their purchase related information.

Customer Lifecycle Management A customer lifecycle management from an organization perspective contains selection, acquisition, retention, and an extension of the customer.

why is the internet a suitable medium for relationship marketing

To do this, it is important that we are consistently active on our social media platforms, website, and offline networking. Ask a fellow entrepreneur to look at your social media postings and rate them for content, connection and consistency.

What is Relationship Marketing?

The feedback can help you take your Know Like Trust Factor to a whole new level! Word of Mouth Referrals When it comes to owning your own business, word of mouth referrals are gold.

5 Reasons Why Relationship Marketing is Important in Business

This is key to remember because customers rarely purchase products or services solely based on the products intended result. The answer includes all of the feelings and desires that come with that product and the results.

By building your relationship marketing skills, you fulfill those additional needs. You provide more than just a product or service, you provide an experience. To respond to a concern means that you find a way answer the question that empowers your company AND the person making the concern.

why is the internet a suitable medium for relationship marketing

Vouchers can be targeted around what the customer frequently buys. Firms may have software to identify customers that have not purchased from them for a while and send a voucher to try and entice them back and re-establish the online relationship.

why is the internet a suitable medium for relationship marketing

Online Chat To recreate a high street shop environment some websites offer the option to chat via web cam or chat window. This gives the opportunity for users to talk to a sales persons via the web.

why is the internet a suitable medium for relationship marketing

The customer is able to have their questions answered straight away and the firm has an opportunity to try and sell their products to an interested customer. For example Dell the computer group's online chat facility allow customers to talk through computer specifications with a qualified member of their team.

By trying to create the interactivity customers have in shops online retailers may persuade customers to select them over competitor firms. It also allows their employees to connect with customers from around the world.

Customer Service Customer service is the key to maintaining long term online relationships. It is important to ensure that the customer receives excellent customer service prior to, during and after a sale post-transactional strategy.

For example no matter how hard a firm tries things still go wrong, for customers this isn't usually an issue for them it's about how you resolve it.