What Is The Big ‘R’ For Marketing Your Business ?

You might have heard people say "it's all about the money," or it's important to "think outside the box." But if you're really interested in marketing your business and generating a return on investment, you should know what the Big 'R' is. It's all about relationships.

In this post, we will explore how developing mutually beneficial relationships with customers can improve your sales and marketing, as well as provide a long-term benefit that may be greater than any other area of your business plan.

Marketing consultant Jane Smith said, “It was one of those epiphanies I had after many hours glued to my desk thinking through some problem I just couldn't solve. I was trying to help someone who had a real issue with brand loyalty at her business. I just couldn't get my head around why she wasn't getting any results. Then it hit me: when this woman thought of the business she worked for, the first thing that came to her mind was not a product or service or even one of their staff. It was the owner. And it wasn't a good association either. She'd had several bad experiences with him and that made her hate the business and hate shopping there every time he was in -- which was too often, in her opinion.”

Marketing consultant Jane Smith makes a valid point. It's not the product, service, or even the staff that our customers think of when they consider their business. It's the owner and how they feel about their business. Everyone has heard of the benefits of brand loyalty but most businesses think that it is too expensive to develop a relationship with every customer and occasionally forget to contact those who have left and lost touch. Why can't salespeople contact us every month? Why don't we have personalized service at our business?

"Using Email Marketing" by Kevin Hickey is available in its entirety for free here: http://www.kevinhickey.com/using-email-marketing.php

It is better to establish a series of relationships with a smaller number of customers than to have a greater number with superficial connections. According to Dr. Alex Kotenko, “We want to create a relationship that is so strong and so personal that the customer can’t wait for our next contact. This will lead them to do your marketing for you, my friend! After all, the best way for you to get new customers is for your old ones to talk you up!”

Here are some steps you can take in order to develop relationships with your customers:

Regularly email and send out newsletters.

Emails are the best way to contact your customers.

Let's refresh our memories about the power of email marketing. One study from eMarketer (p. 47) shows that “At least 98% of all adults in developed nations have access to email and possess a smartphone, meaning that total access to email is certainly possible if not optimal.” Instantaneous message delivery is what makes email marketing so effective and profitable for companies. Email marketing allows you to engage with your customers immediately and on a 24/7 basis, whereas telephone marketing can arrive at inconvenient times (e.g., while you are sleeping).

It's also more personal and direct. If you use the word "we" in your message, the customer will know that you include yourself.

Ahmet Hancer, a marketing expert and author of “How To Get 1000 True Fans to Market Your Business”, said: "Nurturing relationships with true fans is closely related to building brand loyalty. True fans are like family members who will always remain loyal to you.”

Grab their attention, educate them and make them ask for more content from you. Content marketing is a very effective way of improving your relationship with potential customers (or even past customers) via email or other media such as blogs or social media. Content marketing includes a wide range of material such as graphics, videos, or blogs. You can also create videos about your business and post them on your newsletter.

"The Case for Multimedia Content Marketing" by Jay Baer is available in its entirety for free here: http://www.convinceandconvert.com/social-media-marketing/the-case-for-multimedia-content-marketing/

We can make customers feel like they are part of our business by inviting them to participate in a contest or game, give us feedback on the products we offer, or just respond to feedback we send out about our business. However, you need to be careful not to annoy your customers by overdoing it.

Another way of creating a relationship with your customers is by participating in social media communities. These can be a great way of learning more about your industry as well as staying up to date with what is happening in it. It can also help you learn more about what your customers like and dislike and give you insight into how they feel about the service that you provide.

Networking is another big R for marketing your business and generating a return on investment. Networking events are great for building relationships with other professionals within our industry or others. You can also find like-minded individuals to help you in your business by attending events or offering to help with the event.

Once you have a few customers and friends, consider referring that person to your friend’s new business. Or even better, find someone who can refer you as well!

"The Referral Marketing Guide" by James M. Joiner is available in its entirety for free here: http://www.wsj.com/public/page/referral-marketing-guide_1xr1i74apce0.html

There are many ways to create relationships with our customers. Not every approach is going to be suitable for every business. However, these tips should guide you in the right direction of creating genuine relationships that will not only benefit your business but also your customers.

Hatcher Educational Services, Inc., (HESI) is a for-profit subsidiary of the National Home Education Research Institute (NHERI), incorporated in 1997 and headquartered in Westlake Village, California. HESI produces and publishes study materials for students planning to enter or already enrolled in postsecondary education programs as well as others interested in acquiring knowledge beyond high school graduation. HESI research has been featured in "Education Week", "The Wall Street Journal", and other publications.

HESI holds approximately 100 trademark registrations, including "edVere," the name of its flagship study materials, and "Home Ed," the name of its teaching-learning materials for high-school students.

HESI's products have been endorsed by many well-known professionals in higher education, such as Tara Westover for her book on home-schooling.

HESI has earned a Five-Star Rating from Quality Service Research Institute (QSR) since 2001.

Conclusion:

We can learn many strategies from other businesses. We can also learn many strategies from our customers. For example, it is possible to form a strategic alliance with customers (e.g., entertainment companies). Especially in the music industry, there are numerous examples of strategic alliances between artists and other companies:

Oleta Adams and Babyface;

Kanye West and Nike;

Michelle Branch, Incubus and Decca Records;

Patti Smith and Warner Bros.; 

Rihanna and Jay-Z;

Nelly with Mastodon Music.