Drivers and contingency factors influencing the effectiveness of relationship marketing are evaluated though a meta-analysis of 38,000 relationships across 94 studies.
Factors Influencing the Effectiveness of Relationship Marketing: A Meta-Analysis
1. From:From:
What is relationship marketing? All marketing activities
directed toward establishing, development, and maintaining
successful relational exchanges
Key Insight:
The value of relationship marketing effectiveness can vary
significantly
Data:
Sample of 94 previous studies integrated
38,000 firm-customer relationships evaluated
Relationship Marketing
Palmatier, Dant, Grewal, and Evans (2006)
2. From:From:
Relationships have the strongest impact on customer
word-of-mouth (r = .61, p < .01) and loyalty (r = .52, p < .01)
Relationships have a strong impact objective
measures of company financial performance (r = .35, p <
.01)
How customer relationships affect
performance
Palmatier, Dant, Grewal, and Evans (2006)
Note: Numbers reported are sample size weighted reliability adjusted correlation coefficients.
3. From:From:
Most Effective: Company expertise and communication
Effective: Making investments in relationship, matching seller
and customer on similarity, and ensuring there are
relationship benefits
Effective relationship building strategies
Palmatier, Dant, Grewal, and Evans (2006)
4. From:From:
Selling services versus products
Dealing with business customers (B2B) versus consumers
(B2C)
Dealing with channel partners versus directly with customers
When the target of the relationship is an individual (e.g.,
salesperson) versus a firm (e.g., firm)
Palmatier, Dant, Grewal, and Evans (2006)
Relationship Marketing is most effective at
driving firm performance when…