What are the Benefits of Relationship Marketing Platforms?
Relationship Marketing Platforms play a crucial part in marketing or sales as these platforms help maintain long-term customer relationships. Maintaining and creating relationships is a crucial aspect of every business, and Relationship Marketing Platforms provide an exceptionally good opportunity to do exactly that. Using the interests, needs, and information of every customer, these platforms can help build a great customer relationship with the business. These platforms work largely on increasing customer loyalty with the firm.
Benefits of Relationship Marketing Platforms
Relationship Marketing Platforms like Optimove are constantly trying to help businesses get loyal customers. There are many benefits of a Relationship Marketing Platform than just customer loyalty. These benefits include:
- Reference: Relationship marketing platforms will ensure that your customer is satisfied. Now that the customer is satisfied, he/she will be more likely to recommend it to the people in their circle. So, even without promoting it yourself, you will be organically promoting it and eventually getting more sales through true reference.
- Feedback: Customer feedback is an essential part of any business growth activity. For marketing, it is especially important to use this feedback and construct it to benefit the company. These solutions will help strengthen customer relationships and will eradicate any future chances of negative feedback.
- Personalized offers: By receiving customer data and analyzing it, relationship marketing platforms will help you curate offers for every client that is for their benefit, thereby increasing customer loyalty and positive customer feedback.
- Long-term relationships: Long-term relationships are among the most sought after things for businesses. These platforms can help with personalized offers and creative ideas to innovate customer interactions.
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A Few Top Relationship Marketing Platforms
- Optimove: Optimove is one of the leading Relationship Marketing Platforms. It can help create and manage customer-oriented and large-scale businesses with ease. Its platform helps measure the impact of all the marketing strategies with consumers, self-optimizes itself based on customer feedback,and tends to increase customer engagement opportunities. Firms like Papa Johns’s, Dollar Shave Club, Entertain, Family Dollar, Staples, and Penn National have switched to Optimove to maximize their customer loyalty and retention.
- Windsor Circle: Online retailers can use Windsor circle platforms to retain their current customers and profit from them using a data-driven and personalized approach. It can help you with data from email marketing, marketing programs, some e-commerce platforms, and other such sources. This can help analyze the customer and accordingly curate personalized recommendations and other such email campaigns.
- Retention Science: This brand is trying to help marketers through Artificial Intelligence. Its technology is an amalgamation of automation and deep machine learning, enabling businesses to get intelligent actions and steps based on data and insights. This further helps in customer retention and helps build long-lasting relationships.
- Goedle.io: This is a simple software that uses artificial intelligence to predict consumer behavior. It can automate customer engagement, and further help businesses drive customer loyalty.
- MaaxMarket: This product allows you to track your customers in real-time and note their online behavior, including their social media interaction. This data can help you recognize customer behavior and needs, which are input into its machine learning algorithms. They can further curate score leads based on this data.
Increasing Growth of Relationship Marketing Platforms
Relationship marketing platforms have not had a very linear growth in the past few years; however their value has increased as customers are beginning to realize their effectiveness and benefits in their business. As per the reports of last year, the overall usage of Relationship Marketing Platforms increased from 56% to 74%.
If we break this figure to find out the constituents, we find that about 91% of businesses with over 11 employees are now relying on CRM compared to 50% of those companies with less than 10 employees.
Of this, 74% of customers have said that these software packages have helped them analyze their data better. This industry is expected to see increasing growth in the coming years. Experts believe that this sector can turn into an $80 billion industry by the end of 2025.
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