Day: August 3, 2010

The “Relationship” in “Relationship Commerce”

We’re hearing (and doing) more and more about “Relationship Commerce” these days — but what does that really mean? Does having 2,000 Facebook “friends” or “fans” mean you have 2000 relationships? Or 28,000 Twitter “followers” mean 28,000 relationships?

It depends. Any one of us obviously does not have time to keep up thousands of face-to-face relationships at a time, but with the help of social media, we can certainly build and keep substantially more relationships going. However, it takes more than simply sending a Facebook friend request or clicking the “follow” button on another Twitter user’s profile.

To build relationships online, you (brand or individual) have to offer something in return, such as valuable information, personal introductions to your already-established connections, or even part of yourself through engagement and interaction.

It’s no longer enough to just suggest that someone should be interested in your product or service. You need to engage your market — ask questions, propose ideas, or simply communicate through social media in a way that gives your followers a chance and a reason to respond.

Then when they respond, interact with them to solidify the relationship, or it will just fade out. Directly acknowledge their response, ask follow-up questions, and share their insights with others. Don’t simply be responsive, be incredibly responsive. Always acknowledge those who reach out or spread your ideas. Follow me on Twitter (@tedrubin) and you will see what I mean. Bottom line: the more responsive you are to your audience, the more responsive they will be to you.

Online relationships will not survive without trust. The key to building trust is simple, but not always easy: Always be good to your word (true to your brand), always be authentic, and always be genuine. Remember, most of your social media interactions are public and very much interconnected – let a positive, trustworthy reputation be the only thing out there to spread!

One final point in this post – although Facebook and Twitter are fantastic tools for meeting and engaging with your audience, don’t forget that you can use them in combination with other relationship-building tools. Email, phone, and in-person meetings are all essential tools for bringing the virtual world closer to your “real world.” Use whatever combination works best for you, and you will quickly turn your connections into raving fans and outspoken advocates!

As you can see, Relationship Commerce is not just about financial exchange; it’s about interpersonal exchange, aka the “relationship.”

Ted Rubin

Lennon & McCartney, a Lagniappe, and Social Media Muscle

Some things just deserve a spotlight. A Twitter friend — @9inchmarketing (John, IRL) – reminded me of this when he introduced me to the Purple Goldfish Project. This is an organized effort to draw attention to the existence of Lagniappes (the practice of giving something extra) in the course of everyday business. Herein is one such tale.

I met Bob Magruder more moons ago than either of us care to admit. Chances are, you know him, too; or you know his voice, at least. For more than three decades he’s been the “voice” of local, regional and national advertising campaigns, as well as the authoritative persuader on promotional, instructional and training videos. You can sample some of his work here.

I was an inexperienced ad guy. He was a pro. From the outset it was clear that Bob employed an approach to his business that set him apart. His “customer is the boss” perspective was surprisingly rare among commercial talent the agency worked with. And he always showed up prepared, wanting to give more than was expected to make every project better; but that is not the story.

Bob’s lagniappe is found in the significant something extra he did – and continues to do for colleagues, apprentices and out-right competitors.

Yes…even competitors. For years I watched as one of the busiest and most talented guys in the highly competitive and often cut throat “voice acting” business would invest in teaching aspiring talent how to take work away from him!

To be fair, he did sell his instruction from time to time; but, for years I’ve watched him give time and often even foot the bill to help scores of folks trying to make it in the business.

Now, this isn’t a conventional lagniappe. I don’t remember ever hearing him talk about why he did this. For that matter, he never talked about doing it at all. When he reads this he’ll wonder what the fuss is about, because this was not a strategy or tactical approach. It is born of who he really is, and what he believes in: give clients more than is expected; and give back to an industry that supports you.

In recent months, while reading, thinking, and writing about the growing impact of social media, I’ve been reminded of Bob’s style. He would talk with anyone, share ideas, wonder about trends, and always welcome a conversation. But it never felt like strategizing. It was, in my view at least, the natural response of a guy that enjoyed conversation and collaboration, was always willing to listen, and from whom you would always get more than you paid for.

A Lennon-McCartney tune on the “Let It Be” collection captures what Bob taught me (and hundreds of others). It is social media’s hidden muscle. “And in the end, the love you take is equal to the love you make.”

Magruder reminds me that nothing is more powerful than sharing with someone. This is the heart and soul of social media.

Eric Fletcher