Activity 2.1 - Relationship Marketing Flashcards
What is relationship marketing?
A method of marketing that aims to develop strong emotional connections between brands and their customers.
main advantages of relationship marketing ?
-enhances the customer experience
-builds trust & personal connections
-encourages long-term brand loyalty amongst existing customers
-Once in place, less marketing effort is required to convince existing customers to purchase new products or services (because they already trust the brand)
- increased customer satisfaction
Satisfied customers will share their positive experiences online enhance the brand’s reputation and reach
Disadvantages of relationship marketing
- becoming so personal that it becomes unprofessional
- New customers can be treated as a lower priority
- It’s expensive in the short term, without a guaranteed increase in sales
- It sets high expectations - if these are unfulfilled it can be damaging
- Negative customer experiences can result in negative online comments
What are Strategies?
plans of action designed to achieve long-term aims
Tactics
actions undertaken to achieve short-term goals
What is a digital marketing strategy?
An organisation’s digital marketing strategy is a planned series of actions that work together to achieve overall company aims. Strategies may be realised through multiple short or medium term campaigns, which will typically involve a variety of marketing channels that complement each other (incorporating elements of paid, earned and owned media).”
Paid media
Paid media are channels where the marketer pays money to reach
e. g.
- ppc
- boosted social media posts
- display ads
Owned media
Owned media are channels that the marketer has control over and are unique to the brand. Examples include: -The company’s -website and blog -eBooks and whitepapers -social media profiles
Earned media
Earned media is positive word-of-mouth that has been earned by providing a good CX. Examples include: Reviews Social media mentions Social media comments Social media reposts
Digital marketing strategy elements
Target audience
Channels
Inbound Vs Outbound
Content
Marketing strategy elements: target audience
“The target audience (sometimes referred to as the ‘target market’ ) is the group of people who are most likely to purchase a business’s products/services. They will generally share some defining traits, characteristics, or behaviours, and will require a specific marketing mix to meet their needs.”
target audience: identify
Identify which existing customers have the highest lifetime value (LTV) and consider what traits they have in common.
target audience: Google Analytics
Look at Google Analytics and any social media analytics to identify patterns in online behaviour.
target audience: Needs analysis
Conduct a needs analysis to understand customers’ needs, and which marketing messages are resonating.
target audience: Personas
Create meaningful customer personas (fictional profiles that represent ideal customers).