Your customers will be your most productive RCM.
Relationship Centered Marketing is exclusively for your personal customers and contact-worthy prospects. (“Contact-worthy prospect” meaning they’re known by the seller or known to be a buyer with an affinity for the products/services of the seller.) While your personal customers will be your most productive RCM, orphan customers (meaning buyers whose original seller is no longer at your business), qualified prospects for your products/services who are members of your personal networks, and buyers who favor your products/services (e.g., Ford fan, Apple technology advocate, etc.) can respond positively to RCM. A buyer’s admiration of your products/services is an excellent foundation on which to begin building a relationship with them.
Profitability predicates participation.
Relationship Centered Marketing isn’t for everyone. The initial qualifier justifying implementation should be rationalizing its investment. A minimal cost of operating RCM begins below $5.00 per recipient per full year of operation, and then increases, depending on the number and types of contacts. (Of note, a results-generating RCM needs no more than four contacts per year.) Consequently, if the products and/or services being promoted doesn’t warrant that level of investment, RCM wouldn’t be prudent.
RCM builds customer retention by building customer relationships.
RCM is best utilized by individuals and businesses who truly comprehend and value the power of personal ongoing follow-up in relationships. It is equally important their business practices support customer satisfaction to insure they don’t sabotage their RCM. They should also understand that RCM can’t be perpetuated by scattered, selling only contacts. Just like relationships, RCM requires time, commitment and consistency. That’s because relationships aren’t static. They either get better, fade or go negative. It depends almost exclusively on either good, non-existent or bad communication. In today’s increasingly competitive business environment, as exemplified by the Internet allowing your customers, clients, patrons or patients to literally shop the world for your products/services, can you afford not to explore every avenue, including RCM, to strengthen your customer retention and its referral-generating capabilities?