Entrepreneur If It’s Still Not Painfully Obvious Some Sort Of Relationship Marketing Is Key!
When you hear the term relationship marketing, what immediately comes to mind? And you may also hear this rather broad based term referred to as relationship capital or relationship currency.
No matter “what” you actually call it. How often are you effectively utilizing it? Think about your current professional or personal inner circle for just a moment.
Let’s say you’re talking to a colleague or an extremely close friend about which local magician to hire for your kids 8th or 10th birthday celebration. Would an extremely high praised recommendation from a trusted friend, neighbor colleague make a difference?
So This Is Why The Call It Influencer Marketing!
So your trusted friend, colleague or neighbor suggests magician B. Entrepreneur there’s a very good chance you and I will ultimately enthusiastically go with their recommendation more times than not.
Which means it definitely makes sense for you and I to start effectively utilizing some type of relationship marketing strategy or tactics.
Because consistently doing so will add nicely to you and or your major competitors bottom line. For literally pennies on the dollar. Follow this incredibly watered down example. (As always being used strictly for hypothetical marketing illustration purposes only.)
Imagine either on the same block or within just a few blocks from each other. Two women own non franchised businesses or services. One lady owns an incredibly popular women’s shoe store.
While the other owns an incredibly popular retail jewelry store. And they’ve literally known each other for years. Because they’re both long time paying members of the local chamber of commerce.
It may not seem obvious right now. But each of them could actually barter their way to some all important first time customers. For literally pennies on the dollar.
If You’re Not Open To Previously Untapped Marketing Opportunities! (It’s Practically guaranteed You Won’t Recognize Them When They Present Themselves!)
So what do you think will happen “if’ the lady shoe store owner(s) were to literally swap a pair of her high end power pumps.
Which typically retail for somewhere between $950 – $1,100 dollars a pair. For one of the retail jewelry store owners diamond studded necklaces.
Which typically retails for at least $1,500 or X amount of dollars. Of course truth told her actual out of pocket hard cost is typically half or slightly less.
And “if” need be the women’s shoe store owner can also throw in a few extra goodies at her actual hard cost. In order to balance the swap out,. Like maybe a really nice pair of designer women’s leather gloves.
Plus a few designer scarfs which typically sell out incredibly fast. Thinking long term.
What do you think will start happening systematically when the owner of the female shore store starts strutting around showcasing her extremely eye catching diamond studded necklace or earrings?(You so got that right.)
And Who Among Us Couldn’t Use A Little More Positive Word Of Mouth Or Mouse Exposure? (Especially If You And Or Your Major Competitors Can Systematically Generate It For Literally Pennies On The Dollar!)
Quickly picking up where the above paragraph left off. The current, past and future customers of the women’s shoe store.
Along with her current, past and future neighbors. They will definitely take notice of her newly acquired bling, correct? As well as any siblings she may have.
And you know at least some of them will definitely wanna know “how” soon they can get hooked up to, correct?
And of course the exact same dynamics hold true for the female retail jewelry store owner(s), correct?
Because the moment their current, past and future customers lay their eyes on those fancy power pumps. Or when she attends a family or social function. You know some of the other women in attendance will definitely want to ‘how” they can get hooked up too, right?
Which means setting or forming a mutually beneficial JV (Joint Venture) revenue sharing arrangement. And or some type of mutually beneficial cross promotional arrangement.
Can and ultimately will lead to some brand new first time customers. For literally pennies on the dollar. Don’t you agree?
Well this pretty much explains “why” you and I and or your major competitors definitely need to be consistently utilizing some type of relationship marketing strategy. Don’t you agree?
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