Definition - What does Relationship Marketing mean?
Relationship marketing is a marketing approach that focuses on creating an ongoing and long-term relationship with customers. It is geared toward building and nurturing strong consumer/customer connections and affiliations, rather than pushing sales or purchases.
IT developers, service providers and online stores use relationship marketing to target leads and customers.
Techopedia explains Relationship Marketing
Relationship marketing is typically configured, managed and executed through a customer relationship management (CRM) or marketing automation software, which is used to record and maintain all leads, customers and sales; buying trends; preferences; interests and similar data. This provides a custom view of website content and enables solutions based on market requirements.
For example, an e-commerce website that sells kitchen tools maintains specific buyer profiles in CRM or marketing automation software. A prior customer that is a chef or owner of a restaurant may be presented with content and offers that closely match his or her buyer profile, versus content related to domestic kitchen accessories.
Top 6 Trends in Customer Relationship Management (CRM)
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