Alone we can do so little; together we can do so much!
I recently circulated a Facebook Post where I announced that my corporate title at Collective Bias was soon to change from CSMO (Chief Social Marketing Officer) to CHO. But I didn’t explain further, and it got everyone guessing what CHO stood for.
It was a great exercise. People guessed all KINDS of things, such as:
Last year I embarked on a journey with my friend and co-author Kathryn Rose to put into words what Return on Relationship really means. And after months of hard work, I’m very excited that our new book, Return on Relationship: Relationships are the New Currency; Honor Them, Invest in Them, and Start Measuring Your ROR has finally come to fruition, and will be launched January 29th!
Now, you’ve heard me talking about ROR for years, but this is the first time that the concept has been thoroughly discussed from more than just my point of view. Kathryn brings a fresh, practical perspective, and together we explore the depth and breadth of relationship building for businesses.
Originally posted at Collective Bias Blog
by John Andrews
Most of today’s senior business leaders and marketers developed much of their perspective during the dot com boom of the late 90s and early 2000s. It is little wonder then that when approaching social marketing the solution for most folks is rooted in technology. The same with most start-ups that are still pursuing the model of aggregating a huge audience, using “Big Data” to spot patterns of groups and selling ads. People buy more stuff and we get a ridiculous valuation.
I read a post last week debating whether QR codes are a fad or a marketing trend ripe for growth. My thought was… REALLY?
Many misunderstand the current power and relevant scale of Twitter. It is not about how Twitter has scaled to the general public. The most important thing about News, Content, and anything else published via Twitter, is that a great deal of the influencer community “is” utilizing Twitter for news, communication, and discovery. This information then finds its way to other publishing mediums be it Blogs, Traditional News Media, Facebook, Pinterest, Google+, the water cooler, or whatever other mediums exist. Twitter is a tool that leads into other forms of social sharing.
What is happening now, as more women spend more time on more social networking sites for more reasons, is that women’s purchasing power now goes well beyond the purse … into women’s relationships.
So can you maintain meaningful relationships with thousands of people at a time? No, but every touch is important, no matter how small. Think of it this way… individual touches are like relationship seeds. You have a much better likelihood of reaping a good harvest when you sow widely, but only if you prepare the ground with value and nurture with authenticity.
The Collective Bias influencer community creates shopper content By Stuart Feil
Septemer 10, 2012 ADWEEK
Shopping is, by its very nature, a social activity—people always want to know what other people are buying or discuss what they’ve bought themselves with friends and other shoppers. Nowhere is this more evident than in the blogosphere, where brand ambassadors (such as the ubiquitous Mom-blogger) share information and advice about what they buy and use. There’s power in this user-generated content, and brands and retailers want to take advantage of these influencers to drive excitement for—and sales of—their products.
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!
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!