There are two mentalities in business: transactional and relational. The transactional approach focuses on the maximising gain from the customer. Whereas the relational approach prioritises maximising value to the customer. Hence, the aim is to develop long-term relationships with the customer.
The transactional approach may assist us in hitting short-term targets. It is the relational approach, however, that will help us develop trustworthy relationships and loyalty. This is likely to lead us to a sustainable and profitable business in the long run. When customers talk to new customers then the businesses grow exponentially!
So, what is your customer relationship management mentality?
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