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Any time a big digital idea comes along, especially an idea that shakes free from the status quo, the marketing masses have one simple question \u2013 how\u00a0does it work? If that question can\u2019t be answered with reams of data, the concept is often dismissed. It\u2019s a pragmatic set-up that often works, but also risks missing the type of very important outlier that doesn\u2019t lend itself to conventional metrics and analytics.<\/p>\n
So, what\u2019s this got to do with Return on Relationship (ROR, #RonR) and giving? Well, you may be wondering if there\u2019s a perfect, one-size-fits-all giving ratio that\u2019s sure to check off the requisite statistical boxes and deliver the desired results. It\u2019s a natural thing to wonder in this industry, but it\u2019s not as easy to measure as page-views, followers or shares.<\/p>\n
Whereas an ad campaign can be broken down and measured in parts, giving is a more holistic endeavor. You can certainly measure the results of giving and gain insight into its positive effects on your bottom line, but there\u2019s no magic number for the process. In fact, trying to determine exactly how much\u00a0needs<\/em>\u00a0to be given ultimately undermines the intent of the process. Giving isn\u2019t about instant gratification. It\u2019s about long-term success.<\/p>\n Think about some of the mom-and-pop businesses in your hometown. Which ones are still there? What makes one convenience store, restaurant or small retail outlet survive and thrive, when similar business located in the same area fail? Prices, product quality and location all matter, but relationships are what truly separate the long-term success stories from the failures.<\/p>\n In the case of a small business, those relationships were, and often still are, built the old-fashioned way. That means talking to people face-to-face, getting to know them on a personal level, and remembering their name the next time they stop in to visit. It means addressing customer concerns in a prompt, respectful manner and guiding customers through purchases with a mutually beneficial end\u00a0in mind. It\u2019s about establishing relationships in a way that doesn\u2019t lend itself to predetermined ratios.<\/p>\n Does that mean you need to operate a large corporation like it\u2019s the general store on \u201cThe Waltons?\u201d Of course not. Big data still has a prominent\u00a0seat at the table, just not at the expense of recognizing that those data points\u00a0represent living, breathing people.<\/p>\n Technology is often blamed for the impersonal nature of the modern business-consumer relationship. It shouldn\u2019t be. The most powerful relationship-building tools in the world are hiding right in plain sight on our smartphones, tablets and laptops. The power of those tools is determined by how we use them.<\/p>\n Take social media, for example. One plan of attack is to get as many followers as possible, bombard them with carefully selected marketing content, ignore comment threads on posted content, rinse and repeat. To me, that looks a lot more like sending someone a catalog than it does building a meaningful relationship.<\/p>\n To get the most out of giving, we need to focus more on the \u201csocial\u201d part and less on the \u201cmedia\u201d part. Have an active presence and use social media to genuinely interact on a personal basis. It\u2019s an opportunity to build\u00a0real\u00a0<\/em>relationships with customers based on timeless values, and in a far more efficient manner than simply waiting for those customers to wander into your brick-and-mortar establishment.<\/p>\n Is there a perfect ratio for giving? No, but that\u2019s the point. So give, #JustBeNice, and don\u2019t expect anything in return.\u00a0After that,\u00a0prepare to be amazed when what you get in return is far better than what you\u2019d have expected in the first place.<\/p>\n Originally posted at InsideCXM<\/span><\/a><\/span>\u00a0JUNE 2, 2014\u00a0BY\u00a0<\/span>