What is relationship marketing? In a nutshell, it’s a type of marketing that prioritises customer retention and satisfaction over sales transactions. Read on to find out the secrets of relationship marketing!

First, what is the importance of relationship marketing? Why should you focus on customer retention and satisfaction? For one thing, businesses spend 80% of their marketing budget on acquiring new customers - this is only money well spent if you actually keep these customers. If you keep spending money and losing old customers as fast as you’re gaining new ones, it’s money down the drain.

What’s more, trying to target new audiences and find new customers requires spending time and resources figuring out who these people are and what they want to see. If you focus on strengthening the relationship you have with existing customers, you’ll already know who you’re trying to engage and what they’re interested in.

So, we’ve established that relationship marketing matters. Without further ado, here are a few tips for your relationship marketing strategy.