Relationship Quality and Business Success
F E A T U R E D A R T I C L E
Customer satisfaction data as well as feedback, positive or negative, drives forward thinking, provides opportunities, and promote improvements within an industry or a service department.
Key success factors in achieving customer satisfaction can never be considered constant. An organization should always struggle to reduce the risk of focusing on wrong factors and adapt a systematic approach to priorities activities needed to reach the desired goal for building relationship quality with their customers. By focusing on wrong factors, a well-established organization can easily break long term relationship with its customers or deteriorate relationship quality. If response is instant and focused on the specific problem, relationship is improved and connection is re-established.
Relationship quality and its importance matters equally within and outside of an organization and should not be limited to the results of customer satisfaction data alone.
In a business setting, relationship quality is usually improved between interested parties as a result of mutual understanding, transparency and trust. Interested parties, e.g., may include a raw material supplier and a product manufacturer (customer) or a service agent and a service user (customer). Essentially, a customer can help promote a brand product or service agency based on his or her experience. As a result, company gains financial and reputational benefits.
Relationship quality, inside out:
Relationship quality and its importance matters equally within and outside of an organization and should not be limited to the results of customer satisfaction data alone. Several key components play a vital role in overall success of a company. To drive positive improvements in its products and services, an organization should consider several components, such as:
- Demonstrate affection towards its employees
- Promote activities improving mental and physical health of its workforce
- Strive to bring transparency in communication and worker promotions
- Act instantly for conflict resolution
- Respond promptly to correct mistakes and for complaint resolution
- Attempt at their best to excel in customer care
Relationship quality, now and then:
Improvement in the current state of relationship quality is always possible and poor relationship quality shouldn’t be considered an automatic end of a relationship. To understand better relationship quality, we need to refer to the quality of the relationship at the beginning and observe critically the way it progresses. Review of the historical data and self-assessment results are a few of the several techniques that could provide leads to introduce improvements and possibly keep the relationship quality at its best.
Two of the most successful marketing strategies with a lot of success stories are Sentimental Analysis and Influencer Association.
Sentiment analysis has gained much attention in the social media in the last few years and serves as a strong base for product marketing strategy. In this case, we consider positive and negative response towards our products and services. Negative response opens door for opportunities, while neutral response helps craft strategy to attract new customers.
It has been estimated that daily time spent on social networks is on the rise and estimated over 2 hours per day. A company can offer a free product to an individual who has a dominating presence on social media and is convinced to review the product on his or her blog. An influencer could be a news correspondent, a famous blogger, or a person with many followers on Twitter. Influencer’s interest and association with a specific brand has become a powerful success factor in the past few years and now influencer marketing has risen to become a key component of a brands marketing strategy. The tool works very well for marketing of the established brands and has potential to improve relationship quality.
About the author:
Anjum Shafi is Quality Auditor, Exemplar Global. He has special interest on internet marketing strategies that helps promote business startups on social networks.
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