Alone we can do so little; together we can do so much!
What did this last round of Super Bowl ads do for the brands who created them? In my opinion, not much—when you consider the colossal price tag of the ads compared to brand perception. This past year a 30-second spot cost $4M to air, not counting the costs for an agency to produce it.
According to MediaLife, $1.85 billion was spent on these ads over the past 10 years, and all the while TV viewership has flattened. So who really benefits?
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.
Many moons ago I wrote an article entitled simply Are You Disruptive? In that piece I openly questioned if marketers or business owners, brands, etc., were in fact, disruptive. As I wrote then which is still very true today. I myself am “disruptive” by nature, disruptive not in the breaking mom’s china manner, but rather questioning the accepted norms. Or as Howard Jones would put it, “challenging preconceived ideas.”
I was reminded of my earlier piece while reading something from Forrester Analyst Corinne Munchbach. In a blog post she used the term “Embrace digital disruption.” Now she was using it in the context of something CMOs need to do in 2013 and she was in fact referring specifically to B2C CMOs but I absolutely believe it applies to ALL CMOs – B2C and B2B CMOs alike.
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!
B2B customers have become more independent buyers in the procurement process as a result of their increasing access to information, research and peer-recommendations. In fact, this modern buyer is something of an enigma to B2B vendors. Traditional lead generation efforts such as trade show and publication advertising, direct mail, email, etc. are decreasing in effectiveness. Lead generation through social marketing has received much hype yet case studies demonstrating real bottom-line impact are still few and far between. How does one capture their attention (and wallet-share) in an environment where competition has surpassed competitive vendors to include the increasing availability of information and perception driven by customers and non-customers alike?