BUSINESS TO BUSINESS : Building loyal business relationships

Business-to-customer relationships are all about creating loyalty, and over the past 50 years marketers have been developing strategies and tools to keep customers coming back for more. Yet researchers and marketers have paid much less attention to business-to-business (B2B) relationships even thoug...

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Bibliographic Details
Published inNew Zealand Management p. 68
Main Author Dave McMillan, Carolyn Costley, Michele Akoorie
Format Trade Publication Article
LanguageEnglish
Published Auckland Adrenalin Publishing Ltd 01.11.2007
Subjects
Business to business commerce
Customer relations
Loyalty
Strategic management
Vendor supplier relations
New Zealand
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Summary:Business-to-customer relationships are all about creating loyalty, and over the past 50 years marketers have been developing strategies and tools to keep customers coming back for more. Yet researchers and marketers have paid much less attention to business-to-business (B2B) relationships even though losing a B2B customer in an industry can be a catastrophe - the equivalent of losing thousands of end customers. With the right strategy, businesses can go about building loyal relationships with other businesses. The research is based on a survey of 350 B2B relationships in the financial services industry throughout New Zealand. Te best way to create loyalty is to work on behaviour and use that to build true loyalty. The starting point for loyalty is satisfaction. Once customers are satisfied, business partners need to establish shared values. The next step is to start developing synthetic loyalty, that is, loyal behaviour without a loyal attitude. The next step is to start developing what we call synthetic loyalty, that is, loyal behaviour without a loyal attitude.
ISSN:1174-5339
1179-3910