Guest Lecture by Mr. Easwar Padbanaban was conducted at IBS Business School, Telangana on Friday v
Maverick, the official marketing and strategy club of ICFAI Business School, Hyderabad, organised a guest lecture on a Friday evening that was conducted by Mr Easwar Padbanaban, Regional Sales Manager of Nestle India. The lecture was an interactive session on the topic “Relationship Marketing” which is an important concept for aspiring entrepreneurs and to anyone who wishes to start a career in business.
Mr Easwar shared his experiences with the audience on how important it is to build a strong relationship with not just your customers but also with your employees, distributors and stakeholders of the company. With the ever-increasing competition, building a strong bond with customers can earn a company a huge advantage over its competitors. Once you earn your customer’s trust and loyalty, you can count on them, not just in good times but in bad times as well. As was the case for Nestle when the Maggi crisis occurred; since the company has built such a strong bond with its customers and all other stakeholders, the return of Maggi in the market was welcomed with open arms.
However, building this kind of bond is not easy; “Relationship is not like painting everything with one brush” quoted Mr Easwar. You have to understand your customers before you can form any relationship with them. One needs to learn how to listen before engaging if you do not know what your customers want or need you will never be able to connect with them. An individual needs to have knowledge of what its customers want a skill on how to build a relationship with them and a desire to build that relationship. The easiest and most effective route to take when trying to build relationships is going to an emotional appeal. Most people are driven by their emotions and while building bonds with others, emotions usually play the biggest role.
There are plenty of ways to go about while building relationships with your stakeholders; Mr. Easwar shared with us his five E’s on how to go about it; Engage, Endear, Empower, Energize, Evolve. One of the most important things to keep in mind while one is going through this process of building relationships is to be patient. It takes time for people to trust and connect with others. It is a long and enduring process; relationship marketing is “Beyond Business” but once this connection is built, it is usually everlasting. Your customers will do your sales for you, your employees will be more productive and hence this contributes to the overall long-term goal of your company.
Nestle, for example, is one of the leading brands in the baby nutrition industry, they have a long and lasting bond with mothers all over the world. The trust that people put in Nestle is immense, to use Nestle products to feed their new-born babies is not a small thing. The faith and trust people have on the brand is commendable; this relationship has been built up for generations and generations.
The lecture was very informative and interactive; students got the chance to hear first-hand experiences of someone from an FMCG industry. Moreover, of course, everyone went back, not just with knowledge but also with Nescafe and Maggi goodies.
Source: Maverick IBS, HTCampus Specialist