Customer Relationship Development Strategies It is natural. That satisfied customers also do not stay to maintain a proper relationship, the knot of the relationship should be checked. And if the reader is not a strong entity then read the relationship strategy.
Customer Relationship Development Strategies
1. Create core value
Beginning with great affection and satisfaction for the position of the relationship quality results in the main product service company.
Consistency must be maintained before applying for the relationship status. Develop your brand’s magnetic power. Which warns the customer at once.
And provides a utility advantage image feverishly. To be higher than the competitive product by your products.
2. Developing Sequential Relationship Bonds
Developing Benefits to Relationships It is advisable to follow the type of retention strategy to develop bonds with customers. Financial Bonds Social Bonds Customizable Bonds and Structure Bonds.
1. Financial bonds
Customers at level 1 are tired to farm Primary consideration Financial incentives Company offers low prices for large aquariums for large purchases
Frequent purchases Complementary purchases eg airlines offer incentives frequent passenger hotels offer stable price banks Many car dealers offer a high rate of interest for large and long term
fixed deposits as a special offer to the regular customer and on purchase of accessories and equipment.
2. Social bond
Moves clients from financial bonds to social bonds. Build financial incentive linkages so that they become a partner with customers.
Which is connected to the farm and the customers. But don’t get tired of social bonds. Customers are called customers.
This relationship label is the most recent genre. Service professionals like doctors teaching lawyers etc. The same term is used in banking and insurance business and business to business.
3. Adaptive bond
Tennessee II aims to provide tailor-made service in continuity. And a detailed study of customers’ leadership will develop in-depth knowledge. So that the company can provide one to one solution for their requirement.
4. Structural bond
It is designed by designing the service delivery process as per the requirement of the customer.
And the iron company Asif Construction Company can get the shape and size out of the steel. Similarly, the tire company supplies the required size and quality to the car manufacturer.
3. Relationship ladder
In the relationship process, the customer passes the hot throw label to each level. The customer should be satisfied. And only if the proper marketing strategy is followed.
Accept customer benefits. And join the win-win game. So they will move upwards in a related letter to the customer more than the usual likely letter to the partner of the company.
4. Build a Switching Barrier
Customer service email is brand loyal. If the service past is satisfactory. So trained customers informed and educated them to use our many companies profit.
That’s when they start enjoying the benefits. So customers develop the habit of receiving service. It becomes difficult for them to switch.
Company means sacrificing their time relationship and cost, such as setup cost, discovery cost, learning cost, construction contract cost relationship cost, etc.
steps people can take. Because breaking the relationship will require them to develop a new habit of restructuring their lives. Living relationships with friends etc.
5. Categorize customers on the profitability segment
Not every customer is worth attracting. And keeping it is neither practically possible. Nor is it profitable to treat all customers with better service.
And to meet their expectations rather than marketing it the same way for everyone. Giving special importance to the good, attempting to move the bad to the label of the good, and discouraging the ugly 14, proposes to develop relationships by classifying customers according to the revenue they generate for the company.
Don’t get confused with the quantity purchased here. We recommend the four-tire system of segmentation as Platinum Tire Gold Tire Iron Tire and Lead Tire.
1. Platinum tires
Represent the most profitable customer. They are not priced sensitive. and willing to invest. And are ready to try out new offerings and are committed customers of the company.
2. Gold level
Customers are slightly less profitable for the company. They are heavy users of the company. which offer little value conscientiously.
3. Iron tire
There are internal customers. who provide the following. But their level of income does not give profit to the company. Therefore not eligible for special treatment.
4. lead tire
The problem for the company is that they demand more extra attention each time. are never satisfied. Which offers an additional range to the company’s offering. They are involved in the complaint with the following customer.
Calculate customer relationship value
Look at each customer from the point of view of their lifetime revenue or profit that they contribute to the company.
This is to calculate the pro stencil financial value of long-term relationships. In other words, it is the cost of producing a customer relationship marketing strategy that is to plan and implement the relationship for marketing purposes.
This is not a side game. It is played between the customers and the form. So to play this game educate the customers to get them involved in a relationship.
Because it is beneficial for them too. The company student learns to share the benefits of the relationship.