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Relationship Marketing Approaches

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Which CSR approach is best for business? (Vote here: <a href="http://puremoneymaking.team-talk.net/t276-relationship-marketing-approaches">Relationship Marketing Approaches</a>)

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default Relationship Marketing Approaches

Post by Admin on Sat Aug 09, 2014 10:32 pm

Discussion board for: Relationship Marketing Approaches

There are two mechanisms through which businesses can drive financial correlation.

  1. Customer Satisfaction
    Customer expectations are continuously increasing. Brand loyalty is a thing of the past. Customers seek out products and producers that are best able to satisfy their requirements. Look no further than McDonald's to see what happens when unhappy customers start passing a business by. Detailed Approach
  2. Customer Retention
    The other way round, retention of old customers costs much less than acquisition of new ones. It is 5 times more expensive to acquire a new customer than to retain an old one. The profit generated from the retained customer must therefore  handsomely exceed the harvest reaped from the new clientele. The  retained customer base is thus a huge intangible asset. Detailed Approach

(For more details, visit the source and discuss on it here.)

Last edited by Admin on Sat Aug 09, 2014 10:34 pm; edited 1 time in total (Reason for editing : Posting a poll)

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