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Converting Leads to Clients With Relationship Marketing: Part 1

Aug 13, 2008
Relationship marketing is a platform, which centers on the building of strong, trusting relationships with your customers. The idea is that customers remain loyal to those companies they feel they have a personal connection with, and who understand their needs. It is important to develop a successful relationship marketing platform, but it is equally important to assess your marketing plan on a regular basis to determine its efficacy.

The first step in any marketing platform is how to gain new business. There are a variety of ways to gain access to potential client leads. Once you have these leads and have acted upon them according to your company's relationship marketing plan, it is important to analyze your methods to assess its strengths and weaknesses.

By accurately measuring the results of your activities to gain potential clients, you'll be able to identify what you did well, while discovering valuable opportunities and ideas for ways to improve your techniques for use with future customers. The following are a few tips that can be used as a "scorecard" of sorts to assess your process.

Number of New Leads Added

Adding new leads is an important point for expanding your business. If you're not adding new leads to your company's relationship marketing scheme, you won't be adding new customers to your business down the line. Even if your new leads have not yet become customers, it is important to reach out and make contact with potential clients.

There will always be fluctuations over time in the numbers of leads you are able to obtain. To compensate for these natural rise and falls, measure your data over a comfortable period of time for your company and use this data to identify trends. Once you have identified a trend, you'll be able to respond to it. Sometimes the trend you identify will be a market trend, and not a direct response to your relationship marketing techniques, but identification of the new leads you have added is the first step towards understanding the impact of your company's relationship marketing plan.

Percentage of New Leads Qualified

A "prospective client of lead" that has been qualified is a technical term for a prospect that has turned into a sale. But keep in mind that all leads, qualified or otherwise are not created equal. Some relationship marketing campaigns will deliver a large quantity of leads, but few prospective clients actually buying your products. Other marketing drives will generate a smaller quantity of leads, but a higher percentage of prospective customers who are interested in buying. By establishing qualifying criteria and then applying those criteria uniformly to your potential customer leads, you are better able to quantify the overall effectiveness of your relationship marketing platform.
About the Author
Christian Fea is CEO of Synertegic, Inc. A strategic Collaboration Marketing consulting firm empowering business owners to discover and implement Integration, Alliance, and Joint Venture marketing tactics to solve specific business challenges. christian@synertegic.com
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