No customer wants to feel like a short-term fling. To prove that they’re in it for the long haul, marketers need to maintain a give-and-take relationship with their existing customers by generating value both for and from them.
However, only 30% of companies are “very committed” to relationship marketing, according to the Cross-Channel Marketing Report, published by Econsultancy in association with Responsys. In fact, 22% of companies don’t conduct relationship marketing at all. Survey respondents most commonly blame a lack of resources (22%), no clearly defined strategies (19%), and technology limitations (13%) for their relationship woes, the report notes. And rather than being hopelessly devoted to their customers, marketers are chasing after campaigns. Actually, 64% of marketers surveyed admit that they still take a campaign-centric approach to marketing.
But perhaps it’s the wandering eyes that get businesses into trouble. According to the report, 44% of respondents list customer acquisition as their main focus, versus 16% that list retention. This is surprising considering that 70% of marketers surveyed agree that retaining a customer is cheaper than acquiring a new one. However, most respondents believe that it’s better to find a balance between playing the field and being faithful. More than half (56%) of marketers say there should be an equal focus on customer acquisition and customer retention.
Acquisition and retention aren’t the only marketing opposites that attract. Companies must blend their online and offline channels to spark customer love whenever, wherever. In fact, respondents list print media (57%), direct mail (53%), and outdoor advertising (32%) as the top three offline channels they integrate with their digital marketing.
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