Relationship Management | The Difference between Relationship Management Marketing and CRM Explained
Relationship managment marketing (RMM) is a rather complex promotional approach that differs greatly from other forms of promotion that companies utilize. Some people believe that relationship management marketing is the same as customer relationship management (CRM) but although the two are closely connected, they refer to different strategies and techniques.
Relationship management marketing aims to improve customer satisfaction and to build long-lasting relationships between a corporation and its clients. This approach is subtle, unlike the promotions that are carried out to maximize sales. Corporate website development, PR and the usage of online channels are all important parts of RMM efforts.
This form of marketing is more complex, going beyond the simple interactions that involve selling and buying goods and services. Multiple channels can be utilized to establish relationships. Internet and social networks in particular play an important role.
Customer relationship management solutions such as Microsoft CRM, Salesforce.com and GoldMine CRM can be utilized to maximize the results of relationship building campaigns. The two aspects of the process are, however, quite different.
CRM was defined in the late 1990s. This business process is heavily reliant on technological developments. It is a much more encompassing marketing strategy, managing and affecting all relations between a company and its customers.
Technological innovations are used to better organize, promote and coordinate the advertising efforts of a business, regardless of the aim or the specifics of the campaign. CRM is broader and much more complex than the single marketing effort that strives building better ties with potential and current clients.
CRM has several main goals. It establishes relations with new clients. It also maintains good ties to the people who have already tried the services and products of a company. One of CRM's important goals is to win back old clients that have decided to purchase somebody else's products. Overall, CRM strives to minimize marketing costs and to manage all processes connected to a company's relationship with its clients.
CRM can be seen as a large scale business strategy. Marketing that focuses on relationships is a part of this strategy but its magnitude is smaller and the campaign is concentrated inside a single promotional niche.
A definition that distinguishes the two terms can easily be given. While CRM is concerned with the creation of strategies, RMM is the manner in which these business plans concerning company-customer relationship get implemented.
In today's world, CRM is of exceptional importance for every company. The fact that it is so crucial for success has led to the development of numerous customer relationship management hi-tech solutions. All of these minimize the chance of human error and make planning, sorting and analyzing information much easier.
CRM and RM are very much connected and the two cannot exist without each other. CRM is the set of tools and technological innovations that facilitate the strategic process. RMM on the other hand is the specific campaign, the manner in which a company strives to establish long-term relationships with its clients.
Some people use the terms CRM and RMM to refer to the same things but a major difference does exist. Each one of these is important for the successful marketing of a company but the strategic approach happens to be quite different.
For more help implementing CRM and Relationship Management Marketing strategies in your organization contact us at 858-541-1820 or by email at firstname.lastname@example.org
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