Relationship Based Marketing

If you have been in sales or marketing for a while you probably have heard of the term "Relationship Based Marketing". This type of marketing differs from other forms of marketing in that it recognizes the long term value to the firm of keeping customers, as opposed to direct or "Intrusion" marketing, which focuses upon acquisition of new clients by targeting majority demographics based upon prospective client lists.

Relationship marketing also relies upon acquiring the knowledge of what the consumer needs solely through existing customers in a mutual exchange. Relationship marketing is also dependent upon viral marketing for the acquisition of new customers. But as we have seen in very successful campaigns, viral marketing can have extensive effects.

What is viral marketing? Viral marketing refers to marketing techniques that use pre-existing social networks to produce increases in brand awareness or to achieve other marketing objectives (such as product sales) through self-replicating viral processes, analogous to the spread of pathological and computer viruses. It can be word-of-mouth delivered or enhanced by the network effects of the Internet.

So how are people using the Internet to utilize viral marketing - in many ways.

Web 2.0 and Social Media


According to Wikipedia, which is a perfect example of Web 2.0, the term Web 2.0 is defined as "commonly associated with web applications that facilitate interactive information sharing, interoperability, user-centered design, and collaboration on the World Wide Web. Examples of Web 2.0 include web-based communities, hosted services, web applications, social-networking sites, video-sharing sites, wikis, blogs, mashups, and folksonomies."


Web 2.0 gives more tools to those who utilize relationship-based marketing to promote their product or service. With Web 2.0 you are not only reaching a large base of people but you are also giving more marketing power to your website through the spider web of connections behind each of these types of media. If you are promoting yourself through Wikipedia, you are getting a two-fold force of marketing, one, directly to your potential client and two, promoting your website's viability due to Wikipedia's highly spidered site.


 Blogging



Blogging has probably been around longer than the other types of relationship based marketing techniques. What better way to promote yourself and your product then to sit down with a one-on-one conversation with potential clients? With your blog you can share your interests or passions with others who will then share that information and thus you have viral marketing.



If the idea of creating a blog scares you, this too has been made easier. Not only is there software out there making it easier and easier to blog but there are also people who you can hire to write blogs for you.



Comment on Existing Blogs



Once you write your blog, it does your blog well to have people comment on it. This has to do with the way search engines work as well as plain ole viral marketing. To bring in more people to read your blog and comment, become a frequent visitor to sites that are related to your professional expertise and you may find yourself becoming the go-to person for those in need of that expertise.

Facebook and Other Social media


It is quite possible you have heard or even used Facebook by now. And if you haven't used Twitter, certainly you have heard the term. These along with MySpace, and LinkedIn are common forms of social media. Sites like Facebook and MySpace have a broad focus while LinkedIn is more business focused. Sites like Facebook, provide the opportunity to add a customized page you can use to promote a business.


Relationship based marketing takes time and patience but is possibly one of the most viable and reliable forms of getting your name and company out to the public with the greatest long term value.