Archive for January, 2011

Relationship Marketing is targeted at building stronger and long lasting relationships with clients and other companies. The business is done with a strategic orientation, where the relationship is improved with existing customers rather than finding new customers. It is meant to cater to the needs of individual customers. Its major part involves studying the need of the customer and how it changes in different circumstances.

Relationship marketing applies techniques like marketing, sales, customer care and communication. The relationship is not only enhanced but its life period is increased by these strategies. And as the customer realizes the value of relationship, they are drawn closer. This marketing not only focuses on building relationship and attracting customers to their products and services but also how to retain them.

A raw form of Marketing came into existence in the 1960s. But, organizations were still facing difficulty in selling products, so a system was developed to sell low cost goods to larger group of customer. Leonard Berry and Jag Sheth originated this marketing, in 1982. It was started in B2B markets and industries, which involved long term contracts for many years.  Over the period of time, various marketing strategies were improved and relationship marketing was one of them.

Relationship marketing is applicable where the customers have many options in the market for the same product or service and the customer is entitled to make a selection decision. In such a kind of market, businesses try to maintain their clients by providing comparatively better products and good service and hence, achieving customer loyalty. And once it is achieved it becomes difficult for competitors to do well in the market. The customer turnover wasn’t paid attention on as the main attention was on customer satisfaction. This kind of marketing was initially named as defensive marketing. Offensive marketing is the marketing strategy where not only new customers are attracted, but also the sales are stepped up by increasing the purchase frequency. This kind of marketing concentrates on freeing dissatisfied customers and acquiring new customers.

According to a research, the cost of retaining an old customer is only ten percent of the cost of getting a new customer, which makes sense to not to run around to get new customers in relationship marketing. And according to another research done by cross-sectional analysis, says that, a five percent improvement in customer retention is responsible for twenty-five to eighty-five percent of the profit. Usually high cost is incurred when getting new customers, so if sufficient number of existing customers is retained, there will be no need of acquiring new customers.

Once the customer trust is gained his chances of switching to other company becomes relatively less, he buys goods in bulk, he buys other supplementary goods and he starts neglecting average price variation. This maintains the unit sales volume and there is an increase in dollar-sales volume. The existing customers will be like a living advertisement. If he is satisfied with the company he will recommend it to his friends and acquaintances.

Since the existing customers are familiar with the process, it will take less time and money to educate them about the procedures putting fewer burdens on employees also and making them feel more satisfied with their jobs. The customers are divided into groups based on their loyalty. This procedure is known as relationship ladder of customer loyalty. The groups in ascending order are prospects, customer, client, supporter, advocate and partner.

Due to the advancement in computers and Internet, software has been developed to facilitate customer relationship management. With the help of this software the tastes, activities, preferences, and complaints of customers are tracked. Almost all the companies have this software in their marketing strategy, which benefits the customer as well as the company.

Thus the main aim of relationship marketing is to construct and maintain relationship with committed clients who are meant to bring profit to the company. The other benefits achieved are confidence building and social benefits.

Hello It’s Steve Johnson Here, and I found some great website on how to make money online – http://www.superaffiliatebunker.com/MoneyTraffic
I have been building my online business for over 3 years now, This program has made me alot of money – http://www.thesuperaffiliateprogram.com

Article from articlesbase.com

Find More Relationship Marketing Articles

Technorati Tags: , , , , , , , , , , , , , , , , , , , , , , , ,

The real secret to selling tons of information products is knowing which niche market to target. Choosing a niche is where most internet marketing fails before it even had a chance to start. if you pick the right niche, making money is easy. Eben Pagan’s Guru Home Study Course…
Video Rating: 0 / 5

Technorati Tags: , , , , , , , , , , , , ,

Iscope Digital Media has Built a New EDU Lead Generation Platform and Enhanced their email and Call Center Capabilities
Iscope Digital Media thrives on developing successful online/offline marketing programs customized to increase your ROI and enhance your niche marketing efforts. Iscope Digital Media is made up of top industry professionals with over 20 years of direct marketing experience in many facets of traditional media, online advertising, Data Solutions, and Direct Marketing. (PRWeb January 25, 2011) Read …
Read more on PRWeb

Men’s Health Portal Enlists Website Marketing Company to Increase Visibility
Men’s Health Aid, a niche health portal has turned to Dallas website marketing company to help increase its visibility and increase traffic. (PRWeb January 25, 2011) Read the full story at http://www.prweb.com/releases/mens-health/website-marketing/prweb8085217.htm
Read more on PRWeb

Research and Markets: Pipeline and Commercial Insight: Urinary Incontinence – Marketing Investment & Niche Positioning …
DUBLIN–(BUSINESS WIRE)–Research and Markets (http://www.researchandmarkets.com/research/2d9c41/pipeline_and_comme) has announced the addition of the “Pipeline and Commercial Insight: Urinary Incontinence – Marketing investment and niche positioning are key strategies for success” report to their offering. The urinary incontinence drug market has been displaying …
Read more on Business Wire

Technorati Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,


Online Marketing Institute – Affiliate Marketing
from How to Make Money Online
Price: USD 0.99
View Details about Online Marketing Institute

Technorati Tags: , , , , , , , , , , ,

How can I get some Backlinks to my blog?

Question by Osvaldo Mazzilli: How can I get some Backlinks to my blog?
I have a blog, and doesn’t have enough traffic, I know I have to do a lot of SEO in order to get more traffic, but first I have to get the backlinks to be an authority in my niche so google would show me at least in the first page of the search result page. Do you know any way to get those backlinks. This is my blog: http://the-hidden-spaces.blogspot.com I will apreciate your help!

Best answer:

Answer by David Davis
Make use of search engine optimization (SEO), as it helps in making your website popular on the search engines. It can be done through

– Social Bookmarking
– Social Networks
– Article Marketing
– Blog Commenting
– Forum Posting
– Web 2.0 Blog Postings
– Guest Blogging

Check some of the known SEO specialists like Phoenixup, http://www.phoenixup.com/. Only a professional knowledge and experience can give you the maximum results. PhoenixUP is one of these well known online advertising agencies who have been successfully delivering results to the clients.

Know better? Leave your own answer in the comments!

Technorati Tags: , , , , , , , , , , , , , , , , , , , ,


Nielsen Analytics – Nielsen Analytics Podcast
from Nielsen Analytics Podcast
Price: USD 0
View Details about Nielsen Analytics

Technorati Tags: , , ,

nick tadd – Tribe TV


nick tadd – Tribe TV
from Tribe TV
Price: USD 0
View Details about nick tadd

Technorati Tags: , , , , ,

Latest Profitable Niche Markets News

U.S. Global Investors Global Resources Fund (PSPFX) Tops Category for 1- and 10-year Returns
SAN ANTONIO–(BUSINESS WIRE)–U.S. Global Investors, Inc. (Nasdaq: GROW), a boutique registered investment advisory firm specializing in natural resources and emerging markets, announces the Global Resources Fund (PSPFX) finished 2010 as the top-performing fund for the 1- and 10-year period in the global natural resources category, according to data from Lipper. In addition, the Global Resources …
Read more on Business Wire

LinkedIn looks to link up with investors with IPO
(01-27) 14:12 PST SAN FRANCISCO, (AP) — LinkedIn Corp., the company behind the largest website for professional networking, plans to raise at least $ 175 million in an initial public offering of stock that could open…
Read more on San Francisco Chronicle

Technorati Tags: , , , , , , , , , , , , , , , , , , , , , , , ,

Defining your target market is the best first step to take if you are looking to open a new business or if you want to build up an existing business. Yet entrepreneurs and small business owners often short circuit this key step, jumping right into a business they are passionate about. It’s great to be passionate about your business, but if you want to make money you also need to know that others are passionate about what you love, too. The best way to do that? Use target market research.

Here are three mistakes I often see entrepreneurs and solo professionals make that hurt their financial success.

1. Not understanding what a target market is. Here are a few definitions to help you.

a. A specific group of customers that you want to capture.

b. A group of people who share a common interest in a particular subject or activity. Target markets can be defined very broadly, and this is a mistake that almost all new business owners make. If I hear someone say “women are my target market” I know that person doesn’t understand the concept of defining a target market for their business. Which brings me to the second mistake.

2. Confusing the term “target market” with “niche marketing.” A niche is a subset of a target market. Let’s keep using the example above. “Women” is a bad target market term – the only thing all women share in common is their gender. To make your business more manageable and your marketing effective, you have to create a smaller target market,and then find your niche within that target market. For example, if you are a wedding planner then your target market might be “women who are getting married.” I would encourage you to narrow that down, too, but that’s topic for another day. Instead, let’s look at the possible niches within “women who are getting married.” You might specialize in “women who are getting married who want a destination wedding.” Or, you might specialize in “women who are getting married who are looking for a diamond tiara.” Or, you might want to work with “women who are getting married in a garden setting.”

In other words, your niche is a subset of the broader target market. I’m certainly not the first to say “the riches are in the niches” – the more you can specialize and niche your business, the better off you’ll be financially. And that leads me to the third mistake.

3. Not knowing the special language your niche market uses. Let’s say that you want to sell supplies to women who like to make scrapbooks. To market to these women in a way that they will know, like, and trust you (and thus buy from you)you will need to know the scrapbooker’s language, their specialized terms. So if you don’t know what LO, embellies, Cricut, or bling means you have some homework to do before you go further.

To find out about the special language your niche of your target market uses, you can check out on-line forums on the topic, read bloggers who write about it, or immerse yourself in the topic. You can also interview a few talkative people in your special niche market and ask them about special terms they use.

Think carefully about who you want to serve, find a niche to specialize in, and learn their special language. You will avoid three costly mistakes, make more money, and show that you understand target marketing.

Now, I’d like to share two more tips with you about building a financially successful business. You can go to my website and get a free copywriting guide to help with your marketing. My website, http://www.confidentmarketer.com offers a free special report on business building and my own (Sue Painter) twice monthly e-zine.

Article from articlesbase.com

Technorati Tags: , , , , , , , , , , , , , , , , , , , , , , , , , ,

Niche Marketing Success

Revealed!! A proven niche marketing formula that made 3000 from a website selling birdcages!!! Find out how by visiting www.plr-connection.com
Video Rating: 0 / 5

Technorati Tags: , ,

 Page 1 of 5  1  2  3  4  5 »