How can they ask for a premium price upon selling their business? Most businesses undervalue their asset in this area; but it does not have to be that way.
If business owners can create marketing material for their relationship marketing using the best qualities of brand and relationship marketing; we can create clients who buy quicker, purchase more often, buy larger quantities and buy more frequently. Is this what you want?
What if one particular demographic was consistently exposed to your brochures?
Wouldn’t this be building a brand? However, this rate of return is often quite low.
How about if a third party we knew recommended our product and was able to pass on a brochure of ours? This is combining relationship marketing with building your brand marketing strategy. It sounds quite simple, but has anyone shared this idea before? Are you applying this in your day to day marketing currently? What are the results?
Can you see any risk or costs associated to this form of marketing? How does this compare to what you are currently doing?
Paul Dwyer concludes that if you were to choose either a Brand Marketing Strategy or Relationship Marketing, we would strongly recommend Relationship Marketing first. As your business, your product and your services grows with your third party relationships, there will be a time to move in to a Brand Marketing Strategy. The most powerful strategy in todays economic climate is to combine both strategies as we outlined earlier in this article.
We would really like to “share some time with you” to flesh out and discuss these business ideas with you and apply them to your business. Most ideas will build upon what you are currently doing. We believe, if you are in business, you already know what to do. Reflect and re-focus upon the important factors to deliver maximum return for the effort you already deliver.