marketing research :: essays research papers

In an article written by Laura Schneider, titled client Relationships Are Key to Your Marketing Strategy July 2003, she states that she could show a crinkle how to increase sales by 50% without increasing a merchandise budget. Her research indicates assembly linees have inactive clients that the owners believe will stay with the company, without maintaining or trying to grow in the relationship. Business owners often wonder why havent they heard from a guest or if they left, why did they leave? on that point be many reasons a customer or client may leave, but the ones heard most often areThey felt prices were excessively high or unfair. They had an unresolved complaint. They took a competitors offer. They left beca mapping they felt the business didnt care. The last two options make up the majority of why a client or customer will no longer use a service or a product. Laura believes this makes sense because customers often buy a service or product because they have develope d a relationship with the company, or they owned another product, or a superstar or associate referred them to you. When given with the aforementioned information she ponders the reasons why businesses choke 80% of their marketing dollars going after new customers and clients rather than nurturing, retaining, and maintaining the customer relationships they already have? She suggests before spending time and money going after new customers and clients that a business does not have a relationship to consider the following statisticsRepeat customers spend 33% much than new customers. Referrals among repeat customers are 107% greater than non-customers. It costs six clock more to sell some subject to a prospect than to sell that same thing to a customer. Laura believes the marketing dollar will go further if it is apply to build, nurture, and develop current customer relationships. Building these relationships means treating customers and clients as if they are strategic partners and showing them that they are appreciated. Its important to try to satisfy them with the amend products and services, supported by the right promotion and making it available at the right time and location. Customers can easily detect indifference and fickleness and they simply will not tolerate it. Long-term client and customer loyalty is a long-term challenge that you must strive for every day and with every transaction no matter how big or small. While a growing business needs to constantly generate new customers, the focus and priority should be on pleasing the lively customer base.