As seen in our blog, The History of Business: Where are we today?, company orientations have changed throughout history. Currently, the orientation which is believed to be the most successful is Marketing Orientation as it focuses entirely on satisfying the needs, wants and expectations of customers.
From this orientation came something called Relationship Marketing, this refers to everything a business does to develop strong, lifelong relationships with customers. The question is, why do this?
The term ‘Relationship Marketing’ came from the increased demand from customers wanting to know the brands they work with, people respond to people. Customers are now eager to get to know the faces behind the logo and to figure out whether the organisations they work with will go the extra mile to satisfy their needs.
Customers are the blood-line to every organisation so satisfying their needs is very important.
The benefits of relationship marketing
There are many benefits to marketing orientated organisations and to their customers.
- Increase loyal customer base – Loyal customers are very valuable as they are guaranteed to provide organisations with repeat business over a long period of time. It is important that we spend a lot of time ensuring these customers are satisfied with the product/service they are receiving.
- Brand advocates – When a customer is really happy with an organisations service/product they are always more than willing to promote the brand and refer the organisation to others. This will increase the organisation’s customer base, acquisition rates and will build a stronger relationship with the original loyal customer.
- Feedback opportunity – Happy customers are often willing to provide an organisation with truthful feedback which can often be turned into a testimonial and/or case study for the organisation. This will strengthen the organisation’s position and will create a positive brand reputation.
- Competitive edge – If your customer base is happy your positive reputation will stand out from the rest, again, encouraging customer acquisition and loyalty.
- Happy customers – Along with the many benefits the organisation will enjoy, the customers will also be very happy as they will be receiving a consistent, top-quality service or product.
A few words from us
“Tower Leasing Ltd is a relationship building company, the equipment suppliers and customers we work with are our top priority; we go to great lengths to ensure the lease process is one of ease for all involved. We take care of the work so that our suppliers and customers can get on with what they do best. They do the equipment, we do the leasing.” – Kerry Howells, MD