Relationship marketing definition

Relationship marketing is a customer-oriented approach to marketing that emphasizes building long-term relationships with customers based on trust, loyalty, and mutual value. Relationship marketing recognizes that customer retention is often more cost-effective than customer acquisition and focuses on delivering high-quality products and services that meet customers’ needs and exceed their expectations. Relationship marketing can help businesses increase customer loyalty, reduce churn, and generate positive word-of-mouth marketing. Relationship marketing involves collecting and analyzing customer data to gain insights into their needs and preferences, using personalized communication to build rapport and trust, and providing high-quality products and services that meet customer needs.