Relationship marketing, key to customer retention

It is called Relationship Marketing to the measurement of customer satisfaction and the development of new products and services based on a deep understanding of their needs and expectations through daily treatment. An alternative for consumers to prefer their own products and not those of the competition Bangladesh Phone Number List, is to develop comparative advantages, sometimes not related to the products, such as additional services, special promotions, alliances with companies that offer complementary products or services, or a detailed monitoring of customers that allows to detect expectations or needs that are not currently being satisfied.

In this effort to satisfy the needs of customers either by offering better conditions to purchase their products or services; or with new alternatives that fully satisfy their expectations, via a deep knowledge of their needs, it is called Postmarketing , Relationship Marketing or Aftermarketing , an Anglicism that aims to describe an additional effort to traditional marketing, by measuring customer satisfaction. customers and the development of new products and services based on a deep understanding of their needs and expectations through the daily treatment they have of them.

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Of course, an essential condition to build this competitive advantage, with which companies will be in better conditions than their competitors to win the market, is the full satisfaction of customers with the products currently on the market.

Post-marketing is a concept coined by Peter Vavra , who argues, based on research and studies, that most companies lose 50% of their customers every 5 years and that 70 percent of lost businesses are caused by a bad customer relationship.

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In the book Aftermarkenitng , of his authorship, Vavra says that the relationship between the expense that companies make to get a new client, with retaining someone who is already or has been, is 7 to 1. This means that getting to Starting from scratch, a customer costs companies 7 times more than keeping a current customer.

This entails the additional benefit that direct contact with a client gives us the possibility of knowing in depth their needs Phone Number List, which results in the potential creation of growing the business that you already have, through the development of products and / or services ad hoc for the needs that are discovered, or at least that it perceives the interest of the supplier to efficiently satisfy the client’s requirements, with which we can measure the satisfaction it has in relation to the products or services that are delivered or supplied.

This undoubtedly represents a comparative advantage in relation to competitors interested in serving the same company.

Post-marketing also allows us to meet customer needs, sometimes not related to the product or service we provide, but it gives us the opportunity to take actions that allow us to “go further” and thereby obtain full customer satisfaction, to promote repurchase, objective of relationship marketing.

Maintaining closeness with the client is vital to know their needs in depth and measure their level of satisfaction, which is essential to implement eventual activities to retain them.