Relationship Marketing Back on Track
Atualizado: Jun 14
Why it matters and how to start
Photo by Kushal Medhi on Unsplash
The current health crisis is blocking people from their normal lives and by current predictions dictate we will live a new normal for at least 2 years, or longer.
It’s incredible how Human Beings have the ability to adapt to a set of new rules and cope with measures such as lockdowns for the benefit of the whole society.
Suddenly everyone is in lock down or partially confined in their homes, patiently doing their job to avoid worsening the current health crisis.
But our need to interact socially didn’t go away.
> Facebook is experiencing surges in traffic, especially in the areas most affected by the covid 19 pandemic as people search for community support . “For instance, daily audio and video calls on WhatsApp and Messenger doubled as the virus spread, reaching levels normally seen only on New Year’s Eve”.
> Instagram became the platform for live gatherings - comedy shows, music shows, etc. Even personal trainers are now using it to reach gym members as new business models emerge
> eCommerce is skyrocketing across sectors - some businesses simply have too much business and more than they can handle, such as instacart in the US, even stretching their workers to overwork (some claim 18 hours a day).
All these factors are pushing marketing towards a new normal where people want to interact in new ways and brands are pushed to manage their customer relationships directly
In addition, 3rd party cookies are going away more quickly than people expected, with Google announcing earlier this year its desire to end it in less than 2 years. For those less familiar, this means that digital advertising based on the aggregation of insights from cookies from multiple websites will play a less relevant role.
At first, relationship marketing sounds like going back to the basics. Email marketing and direct mail marketing used to be the pillars of relationship marketing but in reality this new normal is much more than going back to “knock on doors”, and it’s more about acquiring and developing sources of primary customer data.
Therefore it is critical for brands to own, manage and retain customer relationships. Here are 3 key steps to achieve this:
Craft a relationship marketing strategy: know where you’re going
What role my brand / business plays in my target customer groups?
How will I acquire, develop and retain more customer relationships?
What content needs can I satisfy through direct marketing channels?
Build capabilities - build to last the longest and hardest roads
Setting up a platform to store, manage and activate customer data is critical to stay on top of your customer needs (including privacy).
Set up a CRM platform to manage relationships: CRM platforms have evolved drammatically since the 90’s...there’s a super competitive market out there with tons of options for B2C and B2B.
Automate marketing campaigns based on expected behaviors and actions - triggered based campaigns will give you scale in relationship marketing
Optimise based on data and insights - bring the right passengers on board, spend less fuel
What data can I use to establish relevant personalisation to my customers (purchase data, interaction data, browsing data, etc…)
Measure uplifts on incremental revenue and profit: the super powerul ability of establishing sound multivariate testing to know what works (much more clearly than attribution models)
Optimise for customer lifetime value: know what customers are worth. Establish a clear customer strategy using advanced segmentation models and look at the cash people are bringing into your business.
It is time for your business to keep eyes on the the road and to drive towards customer land. There you will find people who will open the door and are willing to pay what’s right.
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