Answer:
Relationship marketing is strategy that emphasizes customer retention, satisfaction, and lifetime customer value. Relationship marketing can be defined as marketing to current customers vs. new customer acquisition through sales and advertising.
As opposed to transactional marketing’s focus on one-off sales, a good relationship marketing strategy is rooted in building customer loyalty and lasting, long-term engagement with your customer base. Benefits include increased word-of-mouth, repeat business, and a willingness on the customer’s part to provide valuable feedback to the company.
