RELATIONSHIP MARKETING USING SOCIAL MEDIA AND ITS IMPLICATIONS ON CUSTOMER RETENTION

Abstract

In the new era, companies are gradually consuming social media as part of their marketing and brand building initiatives although only a trivial number of companies have actively progressed in this space.

Most of the academic studies consider social media as a new marketing tool that increases marketing communication effectiveness and there is very less focus on how firms are benefitted from them. Increased usage of social media is a persuader for marketers to enhance their customer engagement processes in this space.

An exploratory section of this study is to determine if customer loyalty is obstructed by effective relationship marketing initiatives and whether there are any impacts on actual customer buying behavior, customer acquisition and retention.

A module of Narrative research shall help us to comprehend various metrics where we can see the evolving tools and factors related to social media that most companies use and leverage to get enhanced customer engagement and leads.