How Four Companies Are Using The Four Stages of Relationship Marketing

With new technology and government regulations disrupting the old ways of collecting consumer data, marketers are in need of new ways to efficiently reach and consistently engage customers at scale. Relationship marketing offers opportunities to drive revenue, create personalized experiences, and deliver a unique value exchange across the entire customer lifecycle. Here’s how four companies have recently implemented this strategy in each of the four stages: Acquisition: Turn unknown customers into known customers. American Airlines built a database by asking customers how, when, and where they wanted to fly, then optimized promotional destination offers to match. The result—conversion rates increased 84%, and open rates 50%. Personalization: Customized communications to customers. Using data signals to trigger customized messages, content, and offers, Danish retailer Salling group created personalized promotional offers based on previous purchase trends, as well as personalized basket-size coupons. Engagement: Collect demographic and psychographic data and put it to good use. Boden identified the critical customer touchpoints across its platform, such as engagement and shopping history, to increase customer interactions across all its channels to build a consistent experience that connected each customer’s interactions across all channels. Retention: Retain customers through loyalty programs. Identifying the most active customers and keeping them engaged creates powerful brand ambassadors. Even a 5% improvement in retaining these top customers can translate to a 95% jump in profits. Gartner compiled a list of “Genius Brands” based on digital investments and performance, 33% of which deliver experiential loyalty programs compared to only 23% of other brands. To read more, download the free Relationship Marketing e-Book.

How Four Companies Are Using The Four Stages of Relationship Marketing

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