Customer relationship management – acquiring, retaining and growing customers

Often the buying process is staggered – it’s not a one off process. Marketing is a lot more like dating followed by a long term relationship than it is a one night stand. People may visit your premises or website many times before they become a buyer and those that become long term buyers and are loyal, are often more valuable as well.

It’s therefore important to look at how you begin relationships with prospects and then move prospects through the various stages of a relationship.

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Planning and conducting market research

Market research is about sensing what the reality is, out there in the big wide world, right now. It follows that without market research, any company enters the market with its eyes firmly shut. Market research should never be used as a security blanket after a decision has been made – it is here to deepen the understanding of the Value Line, for example the customer, competitors and channels, anticipate the changes in market requirements and eliminate poor decision alternatives.

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