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DEFINITION OF MARKETING SERIES,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
DEFINITION OF MARKETING SERIES,[object Object],Relationship Marketing – Fundamentals of Social Media Marketing,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
What is Relationship Marketing ?,[object Object],Relationship marketing is a strategy designed to foster customer loyalty, interaction and long-term engagement. This customer relationship management (CRM) approach focuses more on customer retention than customer acquisition.*,[object Object],*http://searchcrm.techtarget.com/definition/relationship-marketing,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How is Relationship Marketing Different ?,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How is Relationship Marketing Different ?,[object Object],Long Term Focus,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How is Relationship Marketing Different ?,[object Object],Long Term Focus,[object Object],Customer Satisfaction over Sales,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How is Relationship Marketing Different ?,[object Object],Long Term Focus,[object Object],Customer Satisfaction over Sales,[object Object],One on One Marketing ,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How is Relationship Marketing Different ?,[object Object],Long Term Focus,[object Object],Customer Satisfaction over Sales,[object Object],One on One Marketing ,[object Object],Understanding Customers over Predicting,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How is Relationship Marketing Different ?,[object Object],Long Term Focus,[object Object],Customer Satisfaction over Sales,[object Object],One on One Marketing ,[object Object],Understanding Customers over Predicting,[object Object],Retention,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How is Relationship Marketing Different ?,[object Object],Long Term Focus,[object Object],Customer Satisfaction over Sales,[object Object],One on One Marketing ,[object Object],Understanding Customers over Predicting,[object Object],Retention,[object Object],Data Driven,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
What Relationship Marketing is NOT.,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
What Relationship Marketing is NOT.,[object Object],Data mining,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
What Relationship Marketing is NOT.,[object Object],Data mining,[object Object],Metrics,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
What Relationship Marketing is NOT.,[object Object],Data mining,[object Object],Metrics,[object Object],Managing customers,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Who Gains Value in RM ? ,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Who Gains Value in RM ? ,[object Object],Companies  ,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Who Gains Value in RM ? ,[object Object],Companies  ,[object Object],Gaining new customers is 5 times more expensive than retaining existing customers ,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Who Gains Value in RM ? ,[object Object],Companies  ,[object Object],Gaining new customers is 5 times more expensive than retaining existing customers ,[object Object],A 5% increase in customer retention = 25-85% increase in profits (NPV)                   Reichheld and Sasser (1990),[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Who Gains Value in RM ? ,[object Object],Companies  ,[object Object],Gaining new customers is 5 times more expensive than retaining existing customers ,[object Object],A 5% increase in customer retention = 25-85% increase in profits (NPV)                   Reichheld and Sasser (1990),[object Object],Customers are more loyal,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Who Gains Value in RM ? ,[object Object],Companies  ,[object Object],Gaining new customers is 5 times more expensive than retaining existing customers ,[object Object],A 5% increase in customer retention = 25-85% increase in profits (NPV)                   Reichheld and Sasser (1990),[object Object],Customers are more loyal,[object Object],Customers spread positive word of mouth,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Who Gains Value in RM ? ,[object Object],Companies  ,[object Object],Gaining new customers is 5 times more expensive than retaining existing customers ,[object Object],A 5% increase in customer retention = 25-85% increase in profits (NPV)                   Reichheld and Sasser (1990),[object Object],Customers are more loyal,[object Object],Customers spread positive word of mouth,[object Object],Often more expedient and effective when serving customers.,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Who Gains Value in RM ?,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Who Gains Value in RM ?,[object Object],Customers,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Who Gains Value in RM ?,[object Object],Customers,[object Object],Comfort,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Who Gains Value in RM ?,[object Object],Customers,[object Object],Comfort,[object Object],Sense of belonging/ community,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Who Gains Value in RM ?,[object Object],Customers,[object Object],Comfort,[object Object],Sense of belonging/ community,[object Object],More effective,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Relationship Marketing = Social Media Marketing,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Relationship Marketing = Social Media Marketing,[object Object],Require engagement,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Relationship Marketing = Social Media Marketing,[object Object],Require engagement,[object Object],Focus on the customer,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Relationship Marketing = Social Media Marketing,[object Object],Require engagement,[object Object],Focus on the customer,[object Object],Collaborative,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Relationship Marketing = Social Media Marketing,[object Object],Require engagement,[object Object],Focus on the customer,[object Object],Collaborative,[object Object],Integrates across marketing, sales, customer service, technology, operations management …,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
Relationship Marketing = Social Media Marketing,[object Object],Require engagement,[object Object],Focus on the customer,[object Object],Collaborative,[object Object],Integrates across marketing, sales, customer service, technology, operations management …,[object Object],People, Processes,  Technology,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How Can This Help You Succeed ?,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How Can This Help You Succeed ?,[object Object],Structural Issues,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How Can This Help You Succeed ?,[object Object],Structural Issues,[object Object],Cross functional teams,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How Can This Help You Succeed ?,[object Object],Structural Issues,[object Object],Cross functional teams,[object Object],Management support for customer focus,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How Can This Help You Succeed ?,[object Object],Structural Issues,[object Object],Cross functional teams,[object Object],Management support for customer focus,[object Object],Total quality management,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How Can This Help You Succeed ?,[object Object],Structural Issues,[object Object],Cross functional teams,[object Object],Management support for customer focus,[object Object],Total quality management,[object Object],Employee empowerment,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How Can This Help You Succeed ?,[object Object],Structural Issues,[object Object],Cross functional teams,[object Object],Management support for customer focus,[object Object],Total quality management,[object Object],Employee empowerment,[object Object],Employee satisfaction,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How Can This Help You Succeed ?,[object Object],Measurement Issues,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How Can This Help You Succeed ?,[object Object],Measurement Issues,[object Object],Databases,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How Can This Help You Succeed ?,[object Object],Measurement Issues,[object Object],Databases,[object Object],Develop appropriate metrics,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How Can This Help You Succeed ?,[object Object],Measurement Issues,[object Object],Databases,[object Object],Develop appropriate metrics,[object Object],Track retention,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How Can This Help You Succeed ?,[object Object],Measurement Issues,[object Object],Databases,[object Object],Develop appropriate metrics,[object Object],Track retention,[object Object],Model defection,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
How Can This Help You Succeed ?,[object Object],Measurement Issues,[object Object],Databases,[object Object],Develop appropriate metrics,[object Object],Track retention,[object Object],Model defection,[object Object],Customer Lifetime Value,[object Object],Angela Hausman, PhD    http://hausmanmarketresearch.org,[object Object]
More questions?,[object Object],Check out other videos in The Definition of Marketing video glossary series,[object Object],See the definition of essential marketing terms and phrases at:,[object Object],http://www.MarketingThatWorks.TV,[object Object]

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