A Business Valentine
Samantha Klein 270006UXPV firstname.lastname@example.org | | Tags:  ted_rubin ronr love valentines_day relationship socbiz valentine ror
3 Comments | 4,072 Visits
Valentine’s Day is not all about love. In fact, Avvo, Inc. reports that the number of consumers seeking information about divorce from its website increases more than 40 percent in the weeks leading up to Valentine's Day. So, often ironically, Valentine’s Day really serves as a catalyst to focus our attention upon our relationships, good, bad or in between. It’s far more than just another greeting card, florist and confectioners’ marketing bonanza. After all, relationships form the basic yin/yang of our entire lives, whether with family and friends or with everyone and everything we come into contact with each and every minute of every day, even for the briefest moment.
Now how does all this tie into marketing? Just ask Ted Rubin, a leading social marketing strategist, keynote speaker, brand evangelist and acting CMO of Brand Innovators, who in March 2009 started publicly using the term "ROR:" Return on Relationship™. Ted says, “Relationships are extremely important. The relationship a customer has with a company can make or break the company’s success…Relationships matter.”
All relationships have their unique parameters which continuously evolve, sometimes end and often begin again, and this applies to every relationship we encounter. From a marketing perspective, every facet of every business creates a potential relationship with consequences which can lead to success or failure. Understanding and appreciating such relationships and focusing on continuing to strengthen these potential bonds is critical for each business to insure its success and longevity in today’s ever faster paced, technology-driven and connected world.
Here are some relationship rules you may want to consider for your company:
“You’ll never learn anything while you’re talking.” The days of one-sided marketing campaigns are gone. Today, interactions between brands and customers are two-way, real time conversations. Engage with your customers, both satisfied and unsatisfied. Every conversation is an opportunity to deepen your branding and strengthen your customer relationships. The companies that take note of their customers’ desires and act accordingly will stand a far better chance of breaking through and winning a competitive advantage by increasing and fostering brand engagement.
If you personalize it, “they will come.” Companies don’t need to send each customer a dozen roses to win their loyalty, but they should offer actual human and product interaction and the potential for value-added customer service.
Consumers, especially millennials, value authenticity often more than price and product alone. When trust in a brand is lost, it can be incredibly detrimental to a company’s success and harder than ever to win back.
Brand experiences are being transformed from merely commodity and price driven to more personalized and value added. Successful brands will identify what emotional values exist in their category and utilize them as a foundation for meaningful differentiation.
Don’t wait for a PR crisis to value your loyal fans. Of course you want to win new customers, connect with influencers and get mentions in all of the latest and greatest publications, social media and blogs, but never forget to acknowledge and support your loyal fans. They’ll be your most important asset if you face a PR crisis and are your most cost-effective means of combating the crises via meaningful marketing. They are unpaid, unofficial, and very effective brand ambassadors and advertisers and you can count on them for honest, quality feedback.