MLM Relationship Marketing
Simply put, relationship advertising puts the word custom back in customer. Looks simple enough does not it? Almost a no brainer, but reasonably rare in a lot of advertising circles. The focus now is on attracting customers instead of keeping them – a term referred to as offensive advertising. It’s slowly changing over time, but how bizarre is that, to not try and keep your existing customers? Relationship marketing will make all of the difference in the world, not to mention it might save you and your venture money.
Relationship advertising evolved from direct response advertising in the 1960’s, emerging inside the 80’s to be a system that places emphasis on building longer term relationship customers rather than on single transactions. This advertising school of thought means, understanding customer’s needs as they go through their buying life cycle. Put another way, offering a range of products/services, as your customers in fact need them.
Why would emphasizing your existing customers be more profitable? If you’re constantly spending money and resources to land new clients, you aren’t paying attention to your loyal customers – the ones who are keeping you in venture now. Ignore them at your own peril. This is certainly called churn, or the customers who won’t come back to you should you alienate them. Another term for trying to keep customers and increase their loyalty is called defensive marketing. Customers who have already acquired something from you are your bread and butter, your key to continued profitability. Bottom line? You NEED them and can’t afford to lose them. They’re your assets. And you value assets and treat them accordingly. Customer loyalty is worth money to your enterprise, since the charge of keeping an existing customer is only about 10 per cent of the expense of getting a new one. Lesson is? Take notice to your present customers and your Network marketing venture will have a solid footing for the future.
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