In the business world, the stakeholders are the people who are known to as the pillars of the company or the corporation. They are the ones who would affect the business in the long run and they might be customers, employees, or the investors. It is for this reason that a company must always have good stakeholder relations to keep itself afloat.
Now in order to be able to build good relationships with the stakeholders, it is possible to use some marketing principles in the process. Marketing is an art that would bring the business itself and the brand closer to the ones who are affected by it. So here are some marketing principles that the company may use on the stakeholders.
When one would first gain stakeholders in the business, it is always important for the management to do research on the important people. This type of research is called market research because it will aim to come up with techniques to know how to serve them better. Customers, investors, suppliers, and business partners are a part of this audience.
Of course when the research has already been done, then it is important to put that research into action by using it to know how to communicate with them. Communication is very important in this case because without proper communication, stakeholders will not have a relationship with the business. The business on the other hand has to be the one to initiate.
Of course customer service is another form of communication that may be used in order to please the stakeholders. When the stakeholders would communicate with the company, they will obviously have to go through the front line which is the customer service. Customer service representatives have to be trained to know what to say in the event.
Now the second form of communication would be none other than the internet and social media. Now one has to really utilize the internet because almost everyone is on the internet these days which makes this medium a very powerful tool. By making use of websites, blogs, and social networking sites, it is actually possible to keep the stakeholders updated about what is going on with the company.
Now one of the most fearsome forces in the business world would be the press or the media because these things can make or break a company. It is definitely important to have very good media relations because they are the ones who will uplift the brand image of a company which would make the stakeholders love them. That is why it is very important for any corporation to have a very good public relations team.
So as one can see, it is extremely important to have good stakeholder relations because these relations may improve or destroy a corporation. Of course the marketing team would have to deal with this aspect. They would have to come up with ways to be able to make the stakeholders happy so that they will always be willing to associate themselves with the business.
Now in order to be able to build good relationships with the stakeholders, it is possible to use some marketing principles in the process. Marketing is an art that would bring the business itself and the brand closer to the ones who are affected by it. So here are some marketing principles that the company may use on the stakeholders.
When one would first gain stakeholders in the business, it is always important for the management to do research on the important people. This type of research is called market research because it will aim to come up with techniques to know how to serve them better. Customers, investors, suppliers, and business partners are a part of this audience.
Of course when the research has already been done, then it is important to put that research into action by using it to know how to communicate with them. Communication is very important in this case because without proper communication, stakeholders will not have a relationship with the business. The business on the other hand has to be the one to initiate.
Of course customer service is another form of communication that may be used in order to please the stakeholders. When the stakeholders would communicate with the company, they will obviously have to go through the front line which is the customer service. Customer service representatives have to be trained to know what to say in the event.
Now the second form of communication would be none other than the internet and social media. Now one has to really utilize the internet because almost everyone is on the internet these days which makes this medium a very powerful tool. By making use of websites, blogs, and social networking sites, it is actually possible to keep the stakeholders updated about what is going on with the company.
Now one of the most fearsome forces in the business world would be the press or the media because these things can make or break a company. It is definitely important to have very good media relations because they are the ones who will uplift the brand image of a company which would make the stakeholders love them. That is why it is very important for any corporation to have a very good public relations team.
So as one can see, it is extremely important to have good stakeholder relations because these relations may improve or destroy a corporation. Of course the marketing team would have to deal with this aspect. They would have to come up with ways to be able to make the stakeholders happy so that they will always be willing to associate themselves with the business.
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