Relationship Marketing or Customer relationship management (CRM)
Involves developing and maintaining long-term relationships with customers so that they will keep coming back to make repeat purchases.
“Profit in business comes from repeat customers, customers that boast about your project or service, and that bring friends with them.” Edwards Deming
Steps into CRM:
- Collect meaningful customer information and compile it in a database
- Mine the database to identify “best” customers
- Use the information to develop lasting relationships with “best” customers
- Attract more customers who fit the “best” customer profile