3 min reading timeROR, or Return on Relationship, is the value accrued by a person or brand due to nurturing a relationship. ROI is simple dollars and cents whereas ROR is the value (both perceived and real) that will accrue over time through loyalty, recommendations, and sharing.
I’ve written before about Ted Rubin, the most followed CMO on Twitter. (See video.) Ted coined the phrase “Return on Relationship” because (in his words), ‘Everything comes down to relationships.’
I more than recommend his new book, “Return on Relationship.” I live it.
If only one person in your organization reads it, I hope it’s your Chief Executive Officer.
While the Chief Marketing Officer shapes the brand and the customer experience, the Chief Executive Officer shapes the company’s culture. The spirit of #RonR embraces the value of everyone with whom the company interacts: fellow employees, customers, suppliers, media partners, investors … the list goes on and on.
Top “Return on Relationship” Takeaways
1. “To many businesses, social media is still a campaign-based tactic, viewed and managed separately from business operations. This is flawed thinking.”
I met Robert Packard because he “just showed up” in the Medical Devices Group one day. He answered a member’s question. Then another. Then another. Each, so completely, I wondered who this guy was.
Robert did not participate in the group as part of a campaign. He just built relationships.
His ROR?
Robert can directly tie three clients to his Medical Devices Group contributions. I also invited him to speak at my medical device conference where small- and mid-sized medical device manufacturers will pay to hear him speak.
2. “You can turn a possible negative experience into a shining moment for your company. How? Simply by being there and taking an honest interest in what your customers have to say, even if it isn’t good. Responding publicly has another important, cost-saving benefit. Other people with the same issues (you can and should assume there are others) can receive resolution via your response. They see how you interact … and then make their own judgments about your brand character based on those interactions. If you’re doing it right, you will build brand advocates in the process.”
The first time I got eviscerated in social media, I was furious. I wanted to kick the member out of the Medical Devices Group and delete his comment. Then (after my wife silenced and sent me to another room to eat dinner alone), I read the guest post Ted wrote for me: Lessons from the Chapstick Social Media Fiasco and knew I had to take the high road.
I spent the next four hours crafting my very public response. You can read the exchange here. My response earned my detractor’s respect (we are now friends and connected on LinkedIn) and it unleashed a wave of members who supported my position.
3. “It’s nice to see some humanity behind the giant talking head of a brand, so don’t hide yours.”
Oh, if only my clients would heed this advice.
The world of medical devices can be so stodgy, don’t you think?
I mean, We Are Saving People’s Lives Here.
I was giving a presentation at the Content Marketing World Health Summit back in November when I spontaneously blurted this out. I’m adding it to my talking points.
And again …
It’s ok to Be A Person online. You cure cancer? Great! I still want to see it’s a fun place to work, so post the pie-eating contest photo from your company picnic. I bet it gets shared!
4. What is your Social ID, measured by your responsiveness, thought leadership, content creation, relevance, and demeanor?
Too much here. Get the book: Return on Relationship.
In fact, this post is already one of my longer ones.
Trust me, get the book. It’s only 11 bucks in paperback. It’s a worthwhile read.
