Facebook fans, retweets, site visits, video views, positive ratings and vibrant communities are not measureable financial assets—they aren’t reflected on the balance sheet and can’t be counted on an income statement—but that doesn’t mean they are valueless. Instead, these are leading indicators that a brand is doing something to create value that can lead to financial results in the future. In addition these relationships can be leveraged through initiatives, campaigns, and events to create real dollar value for a brand. In other words, ROR – Return on Relationship!
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Defining Social Metrics
I talk often about ROR, Return on Relationship™(hashtag #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 loyalty, recommendations and sharing. But don’t let that lead you to believe that I do not think metrics are incredibly important. What are the numbers we’re aiming for? What will tell us if it (the implementation and use of the tool / process) was a success? How will we get that information and make sense of it in a way that can inform our business strategy?
Defining metrics around social media advertising and marketing campaigns has been challenging enough that for a while many people said it simply could not be done. Now, however, we are learning that social media measurement (re: use and impact) IS possible – just not always using traditional metrics and methodologies.
One of the most important ways to establish social media metrics is to set “conditions of satisfaction.” In other words, what are the specific outcomes that will bring satisfaction to you, your brand, your business, and your customers? Notice how the word “satisfaction” here requires you to think not just about actions, but about the whole experience resulting from the outcomes. This is absolutely critical for successful social branding!
Listening to Me or Doing Something Else?
Social skills have suffered a great deal not necessarily due to “social media” per-say, but because of all the electronics we all carry and are addicted to in our daily lives. It did not used to be so easy to ignore people and seem disinterested because there was not much else to do during a meeting or when in a group. Now we have the world at our fingertips, so it is incredibly important to make it known to people what is acceptable and what is not. For instance when I am speaking to an audience, I do really want them quoting and posting about me via social channels as it spreads my words throughout the social graph, and to many who cannot attend. But when in a meeting or speaking one-to-one I certainly want their attention. But I also remember that many in the room are not really important to the meeting so I do not care if they are “off” somewhere else and I focus on those who “are” paying attention. We all need to set our standards and agenda’s and focus on those who are worthwhile and can deliver. You cannot truly impose ethics, but you can lead by example.
Originally posted at TedRubin.com
Marketing Lessons from Children: Listen for “Moments” — and Make it Personal
As marketers we think we’re all grown up, and that business has nothing to do with being personal. Like the pat excuse we’ve all heard when a business decision affects other people’s lives, “This isn’t personal, it’s a business decision.”
It’s that kind of thinking that kills us as marketers and brands—when we take “personal” out of the equation we always lose. However, we can turn that around and win! And the quickest way I know to learning how to do this is to closely observe children in action. Think about it… when our kids are young we can talk to them, share with them and really relate on a kid level—and we can also control them to an extent. But when they’re teenagers, they’re not as open to what we tell them; pushing things on them just builds more resistance. And if they think you’re going to give them a speech, they shut you down in a hurry. If you want to get through to teens you have to look for moments when they’re receptive, tamp down the desire to push your opinions on them, and just listen. Be there for them. Help them when they ask for it, but don’t preach at them. It takes practice to learn to recognize those opportunities.
Twitter/Social and Small Business
Twitter has not been readily accepted as a small business tool yet but there are those who are having a great deal of success using it in many ways. So why should small business be using social media at all? The most prominent reasons are responding to customer questions, networking and education… but there’s more. To date, most small businesses have not been looking to help build the sales funnel through these channels. This is interesting considering some of the success that can be found with a small business that gets it. And for those who do, and execute effectively, the opportunity to directly facilitate and create sales are out there and have the potential to be huge since the volume of additional sales that can make a difference are fractional compared to what it takes for a large organization.
If you are only focused on the Money, you risk completely overlooking the People
I was with a senior marketing executive from a major retailer recently and we got into an hour long conversation about Return on Relationship™, my philosophy, and what it means to me. He was incredibly interested personally and for his company, is a very thoughtful person and was interested in digging down to what my mission is… or better yet, what I want most to accomplish with respect to ROR (#RonR). What it seems to come down to, after discussing, riffing on the topic, and a bit of introspection, was helping others without expectations of what you get directly from that person in return. And how that plays into the old adage… “what goes around, comes around.” We then had an inspirational discussion of what that means to us personally and can mean for brands with consumers.
Short and simple: if you are only focused on the money, you risk completely overlooking the people. Don’t make that mistake! If you don’t know who your people are, you might as well toss your marketing and prospecting money down the drain. It is not that complicated.
Relationships ARE the new currency – honor them, invest in them, and start measuring your ROR
Originally posted at TedRubin.com
Message to Businesses: Change Your Framework—Change Your Future
Originally posted at IBM Smarter Commerce… Redefining commerce in the age of the customer.
A comment by Dino Dogan on my post regarding Scaling Social Messaging got me thinking recently. He said:
“Businesses try to force-fit their own framework onto the existing social framework. That’s a mistake. Social framework is much bigger and stronger. When two frameworks meet, one has to give in. In this case, biz framework has no choice but to give in or lose out. “
This is totally in opposition to the way businesses approached frameworks in the past. In the past, the frameworks were controlled, imposed, and enforced onto consumers by a business.”
A Secret to Innovation: Childlike Imagination
Need inspiration to do a better job of marketing, collaborating and growing a better future for your business? Then observe your kids (or somebody else’s kids if yours are grown). The kind of imagination we had as children tends to get put away as we grow older—but as a father who cherishes every moment I can get with my kids, I see the need for it more and more. And I’ve learned TONS of things from just watching my children interact that can (and should) be applied to growing a business.
For instance, kids are natural explorers—they’re open to ideas—they’re spontaneous. They play constantly. And it’s when they’re in a state of play that they’re the most focused and creative. We need to play MORE in order to get out of our adult box, build stronger relationships and let those creative juices flow.
Are Your Customers Lying to You? How Can You REALLY Tell What They’re Thinking?
In John Nosta’sThinkology blog post, “The Fundamental Marketing Dilemma: Language is a Lie,” he discusses books like Malcom Gladwell’sBlink and Tor Norretranders’s The User Illusion, which explore the ideas of how we perceive things. These authors assert that our first impressions are processed not by conscious thought and language, but by much faster processes that are rooted in our reptilian and mammalian brains.
Nosta’s take is that language is really “a corrupted surrogate for what’s REALLY happening.” He says that maybe we shouldn’t be asking our customers what they’re thinking. Maybe we would get more and/or better information by trying to measure direct neural function such as eye tracking, facial coding and other biometrics.
What about surveys and focus groups? Bunk! According to Nosta, people’s thought processes pollute their first impressions about a product or service to the point that the language expression we get in response to asking a question isn’t reliable—and yet 90% of market research focuses on verbal communication, while verbal accounts for only 23% of most communication.
Want More from Social? Empower Your Employees as Brand Advocates/Evangelists!
Brands have it tough these days. Many are trying to make the “social leap,” but are still stuck in the traditional marketing thought process of “controlling the message.” It can be a bit hard to switch gears, especially when Madison Avenue still feeds us the same old lines; however, Madison Avenue doesn’t get it either. The days of handing your marketing over to a bunch of agency wonks without getting involved and staying involved are quickly coming to an end—at least if you want real results. Companies must be hands-on now, and be willing to jump into the conversation and participate, because that’s what their customers demand. Social is where your audience lives. It’s how they want to communicate with each other and where they share brand experience—YOUR brand experience.
So what’s the fastest way to devolve from the old “agency” way of thinking to social communication? Empower those who work for you to create conversation and represent your brand—especially those who have a customer service or customer-facing role. If they build it, service it or sell it, they’re in a perfect position to communicate with your audience in a way that humanizes your brand, but only if you let them.
Many companies that are fearful of social media put muzzles on their employees in an effort to control the social conversation. However, if you’re going to have a social presence at all, just the opposite needs to happen.
In a Networking Exchange Blog post “Brands Under Pressure,” digital and social strategist Cheryl Burgess highlights Apple’s “Genius Bar,” which is the ultimate in employee branding for retail. She notes that the genius bar is “… a lynchpin of the most successful retail concepts and innovative employee brand relationships of our time. Apple simply gets it,” she writes…” employee branding matters.”
Check it out for yourself. Go into any Apple store and count the number of blue shirts milling about in the retail space. It’s astonishing—and each one is an Apple genius whose sole purpose is to communicate with customers, answer questions and share knowledge one-on-one. However, you don’t get a hard sell. The emphasis is on providing helpful information. In doing so, each employee puts a “face” on the Apple brand, and turns a shopping excursion into a human experience.
The great thing is, you don’t have to hire a zillion blue-shirts to stand around your company store to do the same thing for your brand. With a little guidance, your current employees can be blue-shirts for you in social circles.
The key word here is guidance! This includes having a written social media policy for your employees, going over it with them, and involving them in the process. Your employees can be your best advocates and a natural extension of your brand that gives you much better Return on Relationship™ than advertising ever could—but you need to switch your thinking by opening up your internal communications first.
Sit down and talk to your employees about how they can communicate your company mission and values. Open up a dialogue. Get their opinions. Involve them in the process of creating a social media policy so they feel empowered to spread the word about you within the right framework. But make sure that you do not overcomplicate the process and make them feel they are under a microscope.
Opening internal lines of communication and building healthy employer-employee relationships is the first step. The next is figuring out how to train them to communicate externally.
Cheryl’s blog post includes a handy infographic by Mindflash.com on How to Train Your Employees to Handle Social Media. It’s a visual primer on the basics, such as how to identify your employees’ social temperament, ideas on what to share and what not to share on personal as well as corporate social platforms, etc. If you’re just starting to wrap your mind around this concept, it’s a good place to start.
The short of all this is that in today’s digital age, you can’t afford to try to control your company’s brand. You need to learn to let go and become involved in the conversation already going on about you in the social space—and let your employees help you. Otherwise, the cost in market share is steep, because competitors that “get it” are already out there eating your lunch.
Now, I’m not saying you should let go of all the reins; there must be some structure and planning involved. However, a good social strategy MUST involve your employees. Give them some leeway. Educate them about your core values, and about what’s appropriate to share in social circles. Train them to be your brand evangelists and you’ll be amazed at the resulting Return on Relationship™!
Originally posted at TedRubin.com