Relationship and Attraction Marketing!

How to Sell without Selling!

 

Is it better to get new customers so you can make more sales? Or is it better to keep your customers coming back?  Relationship and attraction marketing are two sides to a coin.  Both are inbound marketing techniques, but many people don’t know their purpose.  The goal is to get people to come to you and satisfy them.  It lets you take them through your sales funnel instead of going out and getting their attention.

Relationship and attraction marketing create and share value so they can build bonds.  It is done by giving away valuable content so you can build authority and trust.  Promoting content on blogs, video, eBooks, SEO, and social media is how it is done online.  Many companies are learning over half of their lead generation and website traffic comes from content.

It isn’t enough to get leads, you need to satisfy your current customers.  Keeping the customers you have is important so you can maximize your profits.  Letting the customer leave feedback is an important part of the system too, so you know what the customer wants.  It is done with a phone number, a form, live chat, email, and more.  This helps you to strengthen your relationships, get consultations and make sales.

relationship and attraction marketing

 

Relationship and Attraction Marketing

Relationship Marketing:

This technique comes from direct response marketing.  It focuses on keeping existing customers happy, instead of sales.  People want quality products, and they want to do business with companies that care about them.  They want you to know what they want, and then give it to them.

You do this using a CRM (customer relationship management) tool  so you can keep track of your customer interests and buying trends.  You can find tools that allow you to get customer information so you can send them special offers.  Social media sites let you keep your customers engaged and brand yourself for forming long term relationships.

You ask yourself why should I market to customers?

  • It increases your profitability.
  • Customers are less likely to switch.
  • You get more repeat business.
  • Because they focus on value, they are willing to pay more.
  • You get more referrals.
  • They buy more and more often, and are more likely to buy products through upselling and cross selling.
  • It reduces the cost of getting  new customers through ads because they introduce you to new prospects.
  • You can get constant customer feedback.

Relationship and attraction marketing are great for markets where supply exceeds demand.  This is why network marketers are always talking attraction.

Attraction Marketing:

Getting new customers takes time, hard work and money, and it has been shown to cost five times more than keeping a customer.

This technique targets specific people that are interested in what you have to sell.  Everyone wants to know WIIFM (what’s in it for me), and selling features doesn’t answer this question for the customer.  Selling benefits does.  If it satisfies a want, need, desire, or makes something easier for them, then they will buy now.

You get people to come to you so you can convert, close, and delight by creating content with your customer’s interests in mind.  It is important to connect with them emotionally since most sales come from emotional buyers.  You target traffic and send it to a  squeeze page.  With time people begin sharing and using your posts so you get new leads.  Automating your process gives you a system that can be duplicated, and increases your chances of making a sale.

Inbound marketing is the most effective way of doing business online because it focuses on creating quality content that pulls people toward your company and product, where they naturally want to be.

Customer Value

As co-owner of Elite Fitness by Nutrition we use an inbound marketing with a mix of relationship and attraction marketing.  My partner Melissa is the relationship person who keeps customers happy and coming back.  I’m the attraction marketer working hard to build new relationships to get new customers.

Getting and keeping customers is great, but you want to make sure it is worth it.   An unprofitable relationship is not realistic for business.   You need to find how much each of your customers are worth and their LTV (lifetime value).  These numbers let you know your spending limit to get new customers.

The cost of getting customers online is based on cost per action (CPA), cost per lead (CPL), or pay per click (PPC).  It represents the cost for each lead you get from a click on your ad.   These numbers are used by affiliates and search engine ads.  They are found using the click through rate (CTC).

 

 

By:  Moraima Buonafede

References:

Hubspot, (),The Inbound Methodology, Hubspot,http://www.hubspot.com/inbound-marketing

Relationship Marketing, wikipedia, https://en.wikipedia.org/wiki/Relationship_marketing

Inbound Marketing, wikipedia, https://en.wikipedia.org/wiki/Inbound_marketing