Company Formation and the Importance of Relationships

The fact that consumers buy from brands which they feel they have a relationship with is a well-documented marketing phenomena. However, ‘relationship marketing’ as the professionals call it, now seems to have made a very real impact on the trade sector according to a recent poll by the Enterprise Forum.

The poll found that over 80% of consumers would prefer to buy a service from someone they had a relationship with, even if it is a recently formed company. Over 42% of respondents felt that they tradesperson they had the best relationship with was their hairstylist, while an overwhelming 85% said that the tradesperson they felt they had the worst relationship with was their plumber.

Marketing consultant, Mark Jefferies, comments: ‘”The whole concept of branding is based on the assumption that consumers are more likely to buy from a company they have a relationship or affinity with. Obviously, the same theory applies to the service and trade sector.”

“The recession has had many negative impacts, namely the fact that consumers as a whole are a lot more cautious. Developing a relationship with your customer, not only secures a sale it also gives you unbeatable access to feedback about your service and how thing can be improved.”

So next time you are having your hair cut and your stylist asks if you are going away this year, stop and think how you can include this clever piece of relationship marketing into your next advertising strategy.