relationship marketing
DESCRIPTION
Richard Mattson, The Partner Marketing Group Let’s Make a Real Plan that Works!. Relationship marketing. Agenda. Welcome & Introductions A Glimpse at the Possibilities Business’s mission Back to the fundamentals What makes a great relationship? Contrast—SCM vs. CCM - PowerPoint PPT PresentationTRANSCRIPT
Richard Mattson, The Partner Marketing Group
Let’s Make a Real Plan that Works!
Welcome & Introductions A Glimpse at the Possibilities Business’s mission Back to the fundamentals What makes a great relationship? Contrast—SCM vs. CCM A case that worked and one that
didn’t Phases of a relationship and
marketing’s role in each phase Building a profitable RM program
Revenue of a Technology CompanyComparing Strong vs. Weak Relationships
Source: Proprietary Company Analysis
148%
50%
56%
64%
Business’s mission is to
grow shareholder
value!
Business’s mission is to create and
serve customers!
What is business’s mission?
To be successful, businesses must Create and serve customers Grow shareholder value
If a business over-emphasizes one at the expense of the other, it may see some short-lived “success spikes” in the direction of its focus, but it will not survive long term
Whazza?!
Huh?!
Effective Relationship Marketing brings out the humane side of
the business. It’s about the “R” in “RM!
What drives effective RM?Naah! Effective
Relationship Marketing relies on really nailing the
marketing basics. It’s more about the
“M” in “RM!”
Relationship Marketing is not an alternative approach to marketing; it is how effective companies in the 21st century will market. It calls for making hard, focused marketing decisions such as
rigorous customer selection and product portfolio And it calls for infusing your marketing with powerful Human
Factors A business that over-emphasizes one at the expense of the
other will face sub-optimal performance compared with competitors who balance these dimensions.#%!
0#?!
Aaaargh?!
• Economic segmentation• Profitable, unprofitable relationships• Customer defections
• Your strengths and weaknesses• What are customers buying, not buying?
• Differences among your competitors & their customers• Where are your competitors successful and not? Why?
•Gap analysis• Competitive opportunity• Unmet opportunities
• How will you adapt?• Kinds of customers• Nature of offerings
Understanding the relationship piece is critical to driving the customer value formula
This is where “Human Factor Marketing” plays Is this
going to get all touchy feely?
Not with you, bozo
brain!
What makes a great personal relationship? (Think about your best friends.)
What makes a great vendor-customer relationship?
Once you’ve done the work to refine your “customer value” strategy, you can turn to the Human Factors in marketing.
Human Factors activate your communications strategy, bringing the emotional dimension into your strategy.
Customer Value + Human Factors = The Total Entity…but it does not describe how to effectively move that “Total Entity” into the market. That is the job of your Relationship Marketing Strategy.
Human Factor Human Marketing Factor
1. Be Yourself and Be Real!
1. Ensure your company persona is real—fully formed, genuine, trustworthy, consistent, and interesting.
2. Find friends where they’re looking for friends like you
2. Prospecting? Put your company out there where prospects are looking for vendors like you.
3. Building Relationships—To have a friend, you’ve got to be a friend
3. Build business relationships, any kind of relationship!
4. If built your friendship around sports, don’t assume your friend will like opera
4. Stay relevant; pose new directions only after you’ve elicited interest
Identify some critical characteristics of an effective relationship marketing program?
It replaces start-and-stop campaigns with an ongoing engagement process.
It becomes the way you go to market. It recognizes that prospects are at varying stages of the buying
process at all times (including those “resting” customers who have no immediate need).
It hinges on trust, providing value, relevance, and synching with customer rhythms. Is he going
to get to the point?
Soon, I hope!
Relevant solution & engagement options
Relevant gifts of value
Relevant solution
& engagem
ent options
Relevant gifts of value
Timeframe—about a year
Relevant
business
insight
Relevant
business
insight
Tele check-in
Relevant
business
insight
Elicit hidden pains
Elicit hidden pains
Hold Live
Event
Deepen Solution Awareness - case study
BANT
BANT
Offer on-demand webcast based on
event
Offer on-
demand webcast based
on event
Business Insig
ht
Offer onsite assessment
Touches 1 2 3 4 5 6 7 8
Quick customer
stories
Direction
Why?
Account Value Customers look to vendor for wider range of needs; higher cross-sell, up-sell potential
Customer Acquisition Costs
• Greater customer retention = fewer customer adds required to sustain business levels• Increased satisfaction & loyalty = greater advocacy, referrals
Account Servicing Costs Fewer customers in transactional learning curve, know processes, less hand-holding
Price SensitivityLess price-shopping, less switching, more willing to reward vendor for effective relationship = brand premium
Employee acquisition/retention costs
Strong customer relationships fuel enhanced employee satisfaction
Shuddup, you idiot!!
Is he finally done?!
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www.thepartnermarketinggroup.com Other Services
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