Relationship Marketing
Maintaining a solid customer base is the major purpose of relationship marketing. This is another type of marketing strategy which can be very effective if implemented wisely. Businesses can be assured of boosting their sales of up to 50% without spending extra on their allocated marketing budget. While it is practical to continuously expand your customer base especially if the business is growing, maintaining a smooth relationship with the existing client base is also very beneficial. However, keeping in touch with past customers might be not your immediate concern but, establishing and nurturing business relationships with them would surely pay off in the long run. Consider the fact that repeat customers normally spend 33% more than new ones, according to statistics. Thus, saving on advertising expense is indeed considerable.
Relationship Marketing Workshops