Relationship Marketing Strategy for Financial Services from edX

Marketing now is less about the Product or Service and more about the value it creates for the Customers. Ergo, it is imperative for Financial Services’ professionals to move from transaction management to relationship management and create meaningful relationships with the sole objective of enhancing customer value.

Relationship marketing is a long-term marketing strategy, for building personalized relationships with customers. The aim is to achieve customer loyalty and trust by providing an improved financial experience based on a complete understanding of the customer.

This course deals with creating and nurturing relationship marketing strategies in the financial services industry, to foster enhanced customer engagement and add more value to the relationship. The course aims to create a mindset of an “open and nurturing relationship”.

What you'll learn

The meaning and significance of Relationship Marketing

Adding value to the relationship through Customer Journey, Moments of Truth & Customer Value Proposition

Creating and leveraging a positive relationship

Effective Relationship Marketing Strategy for achieving the desired Customer Lifetime Value

Why do Customers leave? Managing the negative relationship

Significance of Loyalty & Trust for a sustainable customer relationship

Rekindling the lost relationship and implementing a Customer Reactivation Strategy

Best Practices in Relationship Marketing

Service Excellence via Relationship Marketing

What's inside

Syllabus

Week 1: “Relationship Marketing – The Realm & the Fundamentals”

Week 2: “The Principle of Positive Relationship & Relationship Management Process”

Week 3: “Managing Customer Defection. Implementing a Customer Reactivation Strategy to rekindle lost relationship”

Week 4: “Customer Loyalty Stages & Loyalty Action Plan. Becoming a Loyalty Leader – A profitable aspect of Relationship Marketing”

Week 5: “Creating a Customer-Centric Relationship Blueprint. Building and managing Customer Relationships”

Week 6: “Relationship Management Best Practices. Achieving Service Excellence via Relationship Marketing”

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Useful for marketing professionals in the financial services industry

Focuses on creating and nurturing relationships with customers in the financial services sector

Provides a comprehensive understanding of the customer journey and moments of truth

Emphasizes the importance of loyalty and trust for building sustainable customer relationships

Covers best practices in relationship marketing and service excellence

Can help participants develop a customer-centric mindset

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Relationship Marketing Strategy for Financial Services with these activities:

Review Relationship Marketing by Peppers and Rogers

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Reviewing this foundational book will provide a solid understanding of the principles and practices of relationship marketing.

View Managing Customer Experience and Relationships on Amazon

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Read the book thoroughly, taking notes on key concepts.
Summarize the main arguments and examples in your own words.
Identify the key lessons and insights that you can apply to your own work.

Compile a List of Resources on Relationship Marketing

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Creating a list of resources on relationship marketing will help you to stay up-to-date on the latest trends and best practices.

Browse courses on Relationship Marketing

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Search for online resources, such as articles, blog posts, and videos.
Attend webinars and conferences on relationship marketing.
Network with other professionals in the field.

Follow a Tutorial on How to Use Customer Relationship Management (CRM) Software

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Following a tutorial will help you to learn how to use CRM software effectively, which can be a valuable tool for managing customer relationships.

Browse courses on Customer Relationship Management

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Choose a CRM software tutorial that is appropriate for your level of experience.
Follow the tutorial step-by-step.
Practice using the CRM software on your own.

Four other activities

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Practice Identifying and Managing Different Types of Customers

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Practicing these exercises will help you to develop your skills in identifying and managing different types of customers, which is essential for building strong relationships.

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Review the different types of customers and their characteristics.
Practice applying these concepts to real-world scenarios.
Get feedback from others on your assessments and decisions.

Develop a Relationship Marketing Plan for a Financial Services Company

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This project will allow you to apply the principles of relationship marketing to a real-world scenario and develop a plan that can be implemented to improve customer relationships.

Browse courses on Relationship Marketing

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Define the target market and customer persona.
Identify the key touchpoints in the customer journey.
Develop a strategy to create and deliver personalized experiences.
Implement the plan and track the results.

Write a Blog Post on the Benefits of Relationship Marketing for Financial Services

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Creating a blog post will help you to synthesize your understanding of relationship marketing and its benefits for financial services companies.

Browse courses on Relationship Marketing

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Research the topic and gather evidence to support your claims.
Develop an outline and structure for your blog post.
Write the content, ensuring that it is clear, concise, and engaging.
Edit and proofread your blog post before publishing it.

Create a Presentation on Best Practices in Relationship Marketing

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Creating a presentation will allow you to share your knowledge of relationship marketing best practices with others and reinforce your own understanding.

Browse courses on Relationship Marketing

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Identify the key best practices in relationship marketing.
Gather evidence and examples to support your points.
Develop a clear and engaging presentation structure.
Practice your presentation and get feedback from others.

Career center

Learners who complete Relationship Marketing Strategy for Financial Services will develop knowledge and skills that may be useful to these careers:

Relationship Marketing Manager

Relationship Marketing Managers are responsible for developing and executing marketing strategies that build and maintain relationships with customers. This course provides a comprehensive overview of relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

See salaries and explore the career path for Relationship Marketing Manager

Account Manager

Account Managers are responsible for managing and growing relationships with key customers. This course provides a comprehensive overview of relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

See salaries and explore the career path for Account Manager

Customer Relationship Manager (CRM)

Customer Relationship Managers (CRMs) are responsible for managing and nurturing relationships with customers. This course provides a strong foundation in relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

See salaries and explore the career path for Customer Relationship Manager (CRM)

Marketing Manager

Marketing Managers are responsible for developing and executing marketing strategies that achieve business objectives. This course provides a strong foundation in relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

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Sales Manager

Sales Managers are responsible for leading and managing sales teams. This course provides a strong foundation in relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

See salaries and explore the career path for Sales Manager

Product Manager

Product Managers are responsible for developing and managing products. This course provides a strong foundation in relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

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Brand Manager

Brand Managers are responsible for developing and managing brand strategies. This course provides a strong foundation in relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

See salaries and explore the career path for Brand Manager

Business Development Manager

Business Development Managers are responsible for developing and executing business development strategies. This course provides a strong foundation in relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

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Speaker

Speakers give presentations on a variety of topics, including relationship marketing. This course provides a comprehensive overview of relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

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Consultant

Consultants provide advice and guidance to businesses on a variety of topics, including relationship marketing. This course provides a comprehensive overview of relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

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Professor

Professors teach and conduct research in higher education. This course provides a comprehensive overview of relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

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Entrepreneur

Entrepreneurs start and manage their own businesses. This course provides a strong foundation in relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

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Researcher

Researchers conduct research on a variety of topics, including relationship marketing. This course provides a comprehensive overview of relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

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Writer

Writers create content for a variety of purposes, including marketing. This course provides a strong foundation in relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

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Trainer

Trainers provide training on a variety of topics, including relationship marketing. This course provides a comprehensive overview of relationship marketing, including the principles of positive relationship management, customer defection management, and customer loyalty building. By understanding the concepts and strategies covered in this course, you will be well-equipped to succeed in this role.

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