Relationship Marketing - what is it?

I was asked recently, what exactly is meant by relationship marketing? I appreciated this question as there are so many interpretations...similar to that of the term 'leadership'. You could read books for the remaining days of your life on this topic.

To put it simply - often this is the best way - I agree with Richard Batterly, author of Leading Through Relationship Marketing - relationship marketing is a business strategy that will, when effectively implemented and executed, involve all the resources of an organisation in a holistic business strategy aimed at achieving a greater engagement of all key stakeholders.

For relationship markeitng to truely work, you need to involve the entire organisation - the board, the Managing Parther, Marketing, Sales, Finance, IT, Operations, Consulting Practices and Client Services (or equivalent in your Firm). It is not about a consultant working in isolation striving towards their individual KPI's or sales targets without consultation or working with the remainder of the firm.

Further and just as essential, relationship marketing is about never forgetting the customer and going deep and wide to lengthen the relationship beyond what it would organically be, without nurturing it towards delivering a mutually beneficial relationship. It is a balance and it is not a stand alone marketing initiative - it is an incorporated initiative that is a key component of your marketing strategy - it gives you the long view focus.

I read a story recently about a Forumula One racing driver, Mark Webber when he hosted an open wheeler car-racing day at a track just out of Sydney. After the authors few dismal laps, as he puts it, in a totally alien environment, the author came back and asked Mark what he was doing wrong. Mark told him it was simple. That if he kept his eyes and thoughts on the steering wheel, pedals and gear stick I wouldn't be able to look down the track and plot my course. So I would take the wrong line into a corner, have no hope of coming out of it in th eright place on the track, and so I would be right out of position to be ready for the next corner, have no hope of coming out of it in the right place on the track, and so I would be right out of position to be ready for the next corner.

The advice I have taken from this story is if we looked ahead more, down the track, where we are soon going to be, then we would still see what's happening immediately around us in the cockpit, but we would also be able to see ahead and plan the way round the circuit and take the most effective and fastest route forward. This is what relationship marketing is all about.

For the relationships to work however, there has to be a genuine and authentic interest in the prospect and or client. Simply deep diving into a client for the sake of following a model will not provide you with the valuable insight you need to nurture and lengthen a relationship OR move from consultant to trusted advisor.