Relationship marketing is a facet of marketing that focus on mutual value creation and retaining the customers, making the customers loyal by strengthening the connection between an organization and its customers. With the growing use social networking sites such as Facebook and Twitter as communication platforms, the game has changed as these networks have gained attention as tools that organizations can use to address current as well as potential consumers. Much of the table turning dynamic can be attributed to the fast changing technology and social media. Companies and brands now a day are beginning to realize that neither they can control the relationship, nor the message flow. Using social media as a channel for engagement raises interesting challenges for traditional RM marketers. These typically concentrate on the operational responses required to manage the customer. With social media, though, customers and their highly influential virtual networks are now driving the conversation, which can trump a company's marketing, sales and service efforts with unprecedented immediacy and reach.
This paper aims to study the relationship marketing in context to social networking sites. With the growing popularity and use of social media, it becomes necessary to understand the strategies, pros and cons of marketing with social media.
Relationship Marketing, Social Media, Marketing Mix Model
