Relational C Level Executive List experience 4. Relational performance Why is it worth focusing on long-term relationships? A brand is much more than just good products or services. There are many of them, but not all companies achieve high profits. Much also depends on other factors. These include promotion strategy and the trust the brand enjoys. Nowadays, regardless of what products or services a buyer would like to use, he or she probably has so many offers to choose from that he or she is unable to get acquainted with all of them. So he has to make a selection somehow. At the same time, he wouldn't want to throw money away. So he looks for some tips and willingly uses the experience of others. Such a customer often asks for recommendations from friends or relatives or reads opinions on the Internet. Meanwhile, loyal customers are more likely to recommend a given company to others - either by posting an opinion online or telling their loved ones to check out the offer. So they become almost brand ambassadors, and free of charge at that - they recommend the offer because they really believe in its value, not because someone paid them.
If you add the fact that investing in long-term relationships is much cheaper than acquiring one-time customers, the conclusion is simple - by taking care of gaining loyal customers, you can increase profits while reducing costs. In addition, there is the above-mentioned principle of Cialdini's social proof, i.e. recommending the company by such people and increasing its reach. It's no wonder that the relationship funnel is so important today. Relationship funnel, or 4 steps to a loyal customer So it's time to take a look at the relationship funnel mentioned above. The name is not accidental. After all, not all customers will use the offer again in the future. There will be many more customers at the beginning of the funnel than those who will stay until the end. However, entrepreneurs can ensure that the end of the funnel becomes as wide as possible, i.e. to maximize the percentage of people who will come back to buy more. It all really comes down to 4 steps: Building a relationship Nurturing relationships Relational experience Relational performance. 1.
