We spend a lot of time with clients discussing the importance of building and preserving relationships with prospects as an avenue for generating more, better quality leads. This Relationship Marketing approach is the bedrock for what we do, and what separates us from other agencies.
In simple terms, Relationship Marketing is built upon the premise that people will respond better to someone they know, like and trust. This is the foundation for most marketing activities, but when applied to process of Business-to-Business (B2B) lead generation, relationship marketing becomes exponentially more important as the value of the sale increases and the number of potential, viable customers shrinks.
Unlike consumer markets that can find new customers around every virtual corner, most B2B markets are finite. For niche and very expensive solutions, these numbers can be particularly small. This means that even the loss of a single opportunity can have a significant impact on your bottom line.
Consequently, Relationship Marketing focuses on the needs of each potential prospect and building a bond that sets the stage for all future interaction with that individual. At ResponsePoint, we treat every potential opportunity as a future customer, even those that may not be ready to purchase for months or years.
The advantage of the Relationship Marketing approach to lead generation is that it enables you to maximize your limited sales opportunities by:
- Avoiding the erosion of your potential market through misaligned or inappropriately managed marketing programs that turn-away potential buyers.
- Identifying opportunities earlier in the sales process.
- Allowing you to influence the buying criteria.
- Simplifying your ability to identify influencers and decision makers.
Understanding your available universe is the first step to implementing a successful Relationship Marketing approach to marketing. From there, you can build a strategy that aligns your communications and lead generation activities based on the size of your target market. Large or small, improving your relationship with each and every prospect will undoubtedly have a positive effect on your ability to generate more, high quality leads now and in the future.