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Customer trust is earned over time: If relationship marketing is to be successful, managers must adopt the fundamental philosophy inherent in its long-term view of the real value in relationships. For relationship marketing to work, marketing may need to be rewarded for building relationship value, rather than for getting sales (Peppers & Rogers, 1993).
The Purpose: To “Map” the Stages of a Customer Relationship
The purpose of this research was to “map” a customer relationship through its developmental stages. A better picture of the customer’s journey may spur a more long-term, customer-oriented view. A relationship development or lifecyle model is adopted to view customer relationships and CRM questions. One developmental stage leads to the next through a series of emotion-based mediators. Furthermore, key factors may fluctuate according to stage.
Finally, the “map” from this study may be used to address customer concerns on an emotional level in order to earn customer trust and commitment. Gaining insight into the customer’s journey from a developmental-relationships perspective may help relationship marketers understand and meet customers’ emotional needs at each stage, generate genuine affection and satisfaction, and unlock the potential for increasing sustainable profits.
Why Is This Study Important?
By explicitly investing in key emotional-relational success factors at each critical stage in the relationship, marketers may turn toward a long-term view and earn customer commitment, which increases profits.