What Is Relationship Management?

Relationship management is a strategy in which an organization maintains an ongoing level of engagement with its audience. This management can occur between a business and its customers (business to consumer (B2C) or between a business and other businesses (business to business (B2B). Relationship management aims to create a partnership between an organization and its patrons, instead of viewing the relationship as merely transactional. 
Understanding Relationship Management
Relationship management involves strategies to build client support for a business and its offerings, and increase brand loyalty. Most often, relationship building occurs at the customer level, but it is valuable between businesses as well.
A business may hire a relationship manager to oversee relationship building or it may combine this function with another marketing or human-resources role. Building a relationship with clients yields rewards for all parties. Consumers who feel that a company is responsive to their needs likely will continue to use that company's products and services.
A company's reputation for responsiveness and generous post-sales involvement can often stimulate new sales. Maintaining communication with consumers lets a company identify potential problems before they come to a costly head.

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