Relationship Marketing: An Analysis of Strategies in Blog Writing

This essay delves into the concept of relationship marketing, a crucial aspect of modern business strategy. It defines relationship marketing as a process of building and maintaining strong, sustainable relationships with customers and stakeholders to foster long-term loyalty and commitment. The essay outlines the core aspects of relationship marketing, including marketing, customer service, and quality, and emphasizes the importance of integrating these elements for optimal customer satisfaction. It further explores the significance of relationships with suppliers, employees, referral markets, and influencer marketing, highlighting how each contributes to overall business success. The essay also discusses strategies for developing customer satisfaction through relationship marketing, such as personalized service, loyalty programs, and emotional engagement. Finally, it concludes by emphasizing the competitive advantage that relationship marketing provides in today's business environment, particularly as businesses strive for differentiation with similar resources.

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Blog Writing
What is the role of Relationship Marketing?
About Relationship Marketing:
The concept of relationship marketing has become one of the most discussed and recognized
concept in the contemporary business scenario. The relationship marketing is the process in
which an organization builds, develops and strengthens sustainable value ridden relationship
with customers and its other stakeholders (Christopher, Payne & Ballantyne, 2013).
Relationship marketing focuses on building more deeper and meaningful relationships with
its customers that assists in long term customer loyalty and commitment. Relationship
marketing strategy does not focus on short term marketing objectives however it focuses on
retaining customers and its stakeholder for long-haul. Therefore, the idea of relationship
marketing is a marketing tactics that is utilized by marketing managers for enhancing both
revenue generation and repeated purchase of products.
Aspects of Relationship Marketing:
The relationship marketing revolves around the basic three aspects, i.e. Marketing, Customer
Service and Quality. Often business organizations isolate one of the factors in the aim to
improve the other one. For instance, businesses often ignore quality of product with aim to
improve quality of the product. However, successful relationship marketing will combine all
the three aspects together to achieve customer satisfaction as they are interconnected.
In relationship marketing it’s not just about improving and maintaining positive relationship
with customers, but also creating and enriched relationship with stakeholders like employees,
suppliers, referrals, and influencer marketing.
Relationship with suppliers:

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Business organizations that has adopted relationship marketing strategy to maintain their
suppliers has clearly shifted from traditional marketing relationship to the one that is based on
mutual co-operations and sustenance. By adopting relationship marketing, business
organizations as well as stakeholders are becoming aware about the benefits that can be
achieved by working mutually in meeting customer needs and customer satisfaction. The
term “co-makership” has been introduced to describe the particular relationship created
among the business and its suppliers. The relationship marketing has assisted business
organizations to understand the importance of stakeholders, particularly the suppliers and
their important part of offering the final product to the customers and meeting customer
needs. As a result, business organizations that co-work with their suppliers have enhanced
customer satisfaction and customer loyalty. The benefits that business organizations
experience after developing relationship management with suppliers are faster execution of
changes, delivery of products on time, lesser stock levels and lesser quality complaints from
customers. Therefore, in service marketing, building positive relationship with suppliers is
also known as Reverse Marketing.
Relationship with employees:
In the competitive market scenario, business organizations give emphasis on employee
relationship because with similar physical resources, it is the human resources that
organizations find competitive advantage in the business competition. In relationship
marketing, employee is treated as essential part of an organization and they share a common
objective with the organization. It also helps in maintaining employee management
relationship which assists in increased employee loyalty and commitment and lesser
employee turnover. Therefore, relationship marketing helps in employee retention. An
employee who stays longer in an organization becomes more familiar with organization’s
objective and operations; as a result they become valuable assets of the organizations.

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Relationship with Referral Markets:
The term referral marketing can be explained as the process by which a business organization
promotes the products or services to new clients by referrals which are usually through word
of mouth. In traditional marketing, referrals often occurred artlessly however, in relationship
marketing, businesses try to influence this process by appropriate strategies. Business
organizations adopt strategies like reward system for referral sources that produces new
businesses or potential customers. Traditionally, satisfied customers were the most common
referral source; however, in the contemporary business environment referrals can come from
suppliers, other agencies like bank, and sometimes even competitors.
Relationship with Influencer Marketing:
The influencer marketing is relatively a new marketing concept which is a kind of social
media marketing that involves promotion of product or service through influencers,
individuals or organizations who have an professional level of understanding or also social
influence in their respective field. Relation with influence markets can also have an effect on
the relationship between the organization and customers. According marketing leaders,
influencer market is hybrid of traditional and modern marketing techniques where the idea of
celebrity promotions in content driven social media marketing campaign.
Developing customer satisfaction through relationship marketing:
Despite technological advancement and artificial intelligence playing important part in
communication processes as a marketing technique, human interaction still plays an
important aspect in relationship marketing and customer satisfaction. The ultimate aim of
business organizations is to build customer satisfaction by offering product or service that
meets customer needs. Therefore, it is important to deliver customer service that is both

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engaging and personalized. Relationship marketing helps businesses to understand and
recognize the strategies of customer satisfaction. The basic aim of the relationship is to create
confidence, dependence and engage customers to develop brand loyalty and less customer
turnover rate. Customer relationship marketing develops on customer experience
management. It also focuses on enhancing customer communication to promote and develop
brand loyalty as the core activity of marketing activity. There are many strategies that
business organizations adopt to develop relationship with customers like, offering excellent
customer service, focusing on individual needs, starting loyalty programs and rewards for
referrals. Experienced relationship marketing managers adopt one of the finest strategies to
maintain positive relation with customers by focusing on emotions. Successful businesses
excel in relationship building by utilizing nostalgia in their campaigns as it is the most
influential tool that consumers connects with brands. As the use of internet rises the influence
of it on individual day to day activities also rises. The internet and social media has given
enough opportunity to business organizations and small enterprises to develop relationship
and engage with customers by directly engaging with them through websites, blogs,
Facebook, Pinterest, YouTube, Twitter, Instagram, etc.
Conclusion:
The relationship marketing has become one of the most essential aspects of contemporary
marketing management. In conclusion it can be stated as competition rises and with similar
resources, business organizations are adopting relationship marketing as a tool to achieve the
competitive advantage.