what is relationship marketing? - letsdiskuss
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Vanisha Anand

Student | Posted on | Education


what is relationship marketing?


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businesswoman | Posted on


Relationship Marketing is a process that establishes, builds, and keeps an ongoing relationship with customers or potential customers. It requires continuous investment in the customer’s needs, such as understanding their current needs and anticipating future ones for increasingly more complex products.
The goals of Relationship Marketing are to maximize customer lifetime value and decrease cost per customer acquisition. Customer Lifetime Value (CLV) is the total amount of revenue earned from a given customer over the duration of their engagement with your company (in other words over the entire period that they are your customers). Cost Per Acquisition (CPA) is the sum total of all marketing expenses divided by total number of new customers acquired during this time period.

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Dietitian | Posted on


Relationship Marketing is an approach to marketing that focuses on building and maintaining relationships with customers based on mutual trust. The idea takes into consideration the fact that brands are more likely to form a relationship with their customers as opposed to trying to create brand loyalty out of thin air. 

The goal of such strategies is not only for the customer to return, but also for sales and profits; meaning, if we can build trust with our clients or users in a way that translates into sales then profits will follow. 
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