When you tell your story in a way that people will care, you create a relationship, a connection, a value that goes beyond immediate $’s and cents. It is what creates conversation, the content that creates trust, loyalty and advocacy.
All of this will scale no matter the follower count because the vast majority do not actually converse themselves, but participate vicariously via the conversations of the minority who do. In addition, if you empower your employees to be a part of, and participate in, these conversations you can be having many more in the name of the brand, and make them personal and “human.”
Recognize that although many want to believe that the majority of CMO’s utilize deep dive data to make their annual budgeting decisions, the truth of the matter is that the vast majority base their annual decisions on last years budget, simply duplicating with small percentage changes for those new ideas they decide to pursue due to gut instinct and relationships they’ve developed with those pitching the ideas.
Return on Relationship (ROR, #RonR)… simply put the value that is accrued by a person or brand due to nurturing a relationship. ROI is simple $’s and cents. ROR is the value (both perceived and real) that will accrue over time through connection, loyalty, recommendations and sharing.
ROR (#RonR) > ROI.. since ROI will match a fixed period of time, or perhaps be income related.. whereas ROR will have a ‘halo’ effect.. e.g. 2 projects can have same ROI, whereas one was done with better relationship management.. so it has the added benefit of a ‘satisfied’ customer or relationship… its like I + compassion.
ROR (#RonR) is measured through organic engagement, community management, sentiment monitoring and so much more. It all comes down to one word: Value. How do your social media efforts create value for you, as a brand, and for your audience? What prompts that viewer to come back to your social channel(s) and to any other place you are looking to drive them to? Social marketing is less about driving traffic, and much more about attracting traffic. Social marketing has evolved from seeing who could gather the most likes to seeing who has the most “on target” fan base. A simple quality over quantity shift. Measuring the Return on Relationship is not easy, as it involves not only analyzing connection growth, but also measuring the overall sentiment of your consumers voice in relation to your brand. This includes measuring the organic sharing rates of your content and your channel return rates.
A brand that steps up its engagement game will not only protect, and extend, its organic reach… but also find a significant competitive advantage. We all love when someone listens to us. When your fans hear from you, their excitement will spread along with your reach and reputation… Return on Relationship. Fight quantity (clutter & filters) with quality (content & engagement). With every post, update and comment ask yourself, “Is it adding something meaningful or simply adding to the noise?”
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