Every marketing company has its own marketing funnel. Thus, in this Expert Insight Interview, Shauna Armitage discusses why the Relationship Marketing Funnel will drive your brand growth. Shauna Armitage is a Fractional Marketing Director for early-stage startups and a startup-related Podcast Host.
The interview discusses:
Steps in the relationship marketing funnel
Relationship Marketing Funnel
The very top of the relationship marketing funnel is brand awareness. Brand awareness takes time, money, and effort, but it is essential for sales. Next comes the conversion event, which does not have to be a sale. For example, it can be a person leaving his or her contact information. The nurturing stage allows for building a connection with customers to bring them to the sale. And lastly, come retention and brand advocacy.
Surprisingly, brand partnerships are magnets for brand awareness. Brand partnerships provide a win-win situation for both sides by allowing leveraging each other’s audiences. They are an excellent opportunity for new and small companies that are tight on advertising budgets. Usually, two brands that go into partnership have the synergy, possibly share the same values, serve the same audience differently, and find a way to cross-promote each other. For example, a company that builds a food product will work with companies that provide food ingredients. Another way is a partnership with companies that are different and have a unique offering for their customers.
Building relationships with other brands and doing brand networking is essential because brands have a significant influence. Thus, making sure to achieve a win-win situation for both sides is necessary to nurture brand relationships. When two brands collaborate, there are so many other ways to get brand awareness besides digital marketing. But it takes a good understanding of the brand you work with, brainstorming, and thinking outside of the box to find ways to stand out with the customers.
On the other side, building customer relationships is all about retention and brand advocacy. Customer retention means giving your customers a reason to purchase. Regarding brand advocacy, word of mouth is still a significant influence because people will always turn to other people for advice. Making your customers advocate for your business is incredibly valuable. But first, you have to build trust with your customers, and you can do that by constantly making them valued. One of the best strategies for it is communication. Do not communicate with your customers only when trying to sell them something. Be random and surprise your customers in a good way, and you will catch their attention.
John is the Amazon bestselling author of Winning the Battle for Sales: Lessons on Closing Every Deal from the World’s Greatest Military Victories and Social Upheaval: How to Win at Social Selling. A globally acknowledged Sales & Marketing thought leader, speaker, and strategist. He is CSMO at Pipeliner CRM. In his spare time, John is an avid Martial Artist.