Relationship marketing involves a long-term process of building satisfied and loyal customers. This process cannot be executed in a short period of time. It requires sustained enduring efforts on the marketer to convert customers with different levels of commitment towards the firm's product or service.
The process of building relationship is as follows:
1. Suspects
Most firms start from the pool of suspects. Suspects constitute of every one who has the possibility of buying the firm's product or service.
2. Prospects
From the pool of suspects, the firm identifies customer groups who are most likely to buy the product or service.
3. Customers
This group has positive experience with the first trial and have purchased the firm's product or service for the second and third time. This group has the potential to be become loyal customers if the firm tries to build relationship. In absence of the firm's effort to build the relationship the repeat customers may switch to competing firm's products or services.
4. Client
The group consist of the loyal and satisfied customers who normally buy the firm's product or service for a longer period of time. Marketers need to work closely with clients so that they make long-term loyalty.
5. Supporter
In relationship marketing, some firms organize business clubs from among their loyal customers and offer the members of the club several benefits so that they remain loyal for ever.
6. Advocate
From among the members of the business club, the firm tries to convert some customers into advocates who are vocal and who openly recommend the firm's product or service to prospects and first time users.
7. Partner
The ultimate objective of relationship marketing is to convert some of the advocates into the firm's partners who work together with the firm for mutual benefits.
