GENERAL KNOWLEDGE

Detailed explanation-1: -It involves the process of developing a true relationship with your customers in such a way that they want to stay with you. Relationship marketing is thinking long-term about the success of your business and eliminating the sole focus on individual sales and new customer acquisitions.

Detailed explanation-2: -Relationship Marketing is a strategy of Customer Relationship Management (CRM) that emphasizes customer retention, satisfaction, and lifetime customer value. Its purpose is to market to current customers versus new customer acquisition through sales and advertising.

Detailed explanation-3: -Marketing consists of the strategies your company employs to generate interest in your business. Sales are the methods by which you convert that interest into a transaction. Marketing strategies attract cold, warm and hot leads, while sales techniques turn them into full customers.

Detailed explanation-4: -There are many levels of relationship marketing: basic, reactive, accountable, proactive and partnership marketing. All achieve the same goal of deeper, more meaningful connections with prospects and customers.

Detailed explanation-5: -Generic Examples of Relationship Marketing Thank customers for their business through a social post or surprise gift card. Solicit customer feedback using polls, surveys, and calls, which induces a positive impression that you value customer opinions to create better products/services.