Improving lead to Prospect Sales Cycle Through Relationship Marketing.
Updated: Feb 16, 2021
Relationship Marketing is about establishing, developing and maintaining a successful exchange that helps in faster conversion of the product to healthy revenue.
Though Porters five forces have worked in the areas of strategy, structure and rivalry of the firms, relationship marketing contributes massively to a firm’s competitive advantage, which isn’t noticed by all the firms at its early stages.
The nature of service offered to customers has remained ambiguous over a long time, though understanding the customer’s requirements has become a pre-requisite .In order to deliver the best from a company’s understanding on consumers need, it’s important that a certain relationship is built between the consumer and his point of contact to deliver as per the expectations .The bond that builds over time leads to a healthy conversion and a retention of the customer, this form of selling comes under the term ‘relationship marketing’
By keeping the employee capability in mind, strategic methodologies are being made in theory and in practice to make human capital as a source for a strong customer relationship. Customers are viewed as a lifetime value to organizations. The engagement of a customer happens on various transactions; it is not just the delivering of the product, understanding the wants and needs of their customers during the process and post purchase can be a challenging task for most companies. Customer relationship management has been considered a new way to deal with it in the field of relationship marketing.