Exactly the point. Precisely targeted communications is the path to real ROI in this (or any) economy.
Our ability to use the various social media to filter and bring us new data - and opportunities - is our greatest asset. And that's something where larger corporations and governments will be late-adopters.
In short, social media relationships are the way to profit during this interesting downturn we are experiencing.
Keith Monaghan
· 1 year ago
Nicely said, Chris. Thanks. Reminds me of a quote: "Wars are won in winter." - Napoleon
Michael A. Stelzner
· 1 year ago
Chris;
Short is the new big.
That gets folks reading.
Mike
amyz5
· 1 year ago
yes michael, and flat is the new up.
good points chris. relationship marketing 2.0 style? greater return on smaller investment? dollar-wise perhaps but the learning curve will cost companies in many ways. i think upside will still outweigh it all.
would love to see your follow-up on this topic in 12 months.
Todd lucier
· 1 year ago
I advise all my clients to address the needs of their ideal guest. It means focusing on your core customers and prospects and ignoring trying to cast a wide net. You know your best customers. Don't you?
Simon Salt
· 1 year ago
Chris You are right. Really what is happening is that big business is learning from small business. Small business owners don't have the luxury of large marketing departments, customer service call centers. They have to build relationships, they have to know their customers and how to not only keep that customer but maximize the potential that the relationship has. Social Media is the online extension of real life marketing / Social Networking, which is something that Small businesses have been doing well for years. Simon
Jeri
· 1 year ago
I agree completely.
I was just having this discussion with a friend on Twitter earlier today...auto reply "thanks for following" vs the time to respond personally. I prefer the personal touch.
The old "customer service" principle and building real relationships...knowing who you're working with rather than being driven by best price only ...could be an underlying cause of the fix we're in today(IMHO) Remember the good ole days of standing behind your word ...and using a handshake to seal a deal? ( DO I dare admit I do??)
I'm a firm believer of picking quality over quantity any day of the week...you really do get what & who you pay for....let people get to know you....as you get to know them. Another bonus?....it's much more FUN too!
Thanks for the conversation.
Blessings...In Peace,
Jeri (ApothecaryJeri)
Barry Hurd
· 1 year ago
I agree with you Chris... there are far deeper things needing to be developed with relationships and understanding.
However it is shocking to see the number of relationship based accounts in my peer-network that have been subjected to broadside after broadside because of the relationship.
Relationships really need to make sure they are being supported with an in-depth communication, as many stakeholders are having to support decisions based on numbers. That means that there are contaminated decision makers looking at budgets and results across departments and unfortunately you may bot have a relationship with the right person.
Jennie B. Weber
· 1 year ago
Regardless of if you are micro-marketing or mass-marketing understanding the target that will most appreciate your brand's value proposition is critical. Understanding your target allows the business to make focused decisions about the action it will take going forward to better serve that target's needs. And get more of that target and the resulting halo so you can keep the lights on.
On a micro-marketing basis I agree open dialogs do not need to be targeted at a singular group that would defeat the openness. (follow me on Twitter: @jbweb)
jon
· 1 year ago
my 'industry' has spent huge amounts of energy and resources in broadcast messaging and planning huge events. Turns out the founder seems to have focused on the horribly inefficient process of working with really small groups of incompetent people and turning them into raving fans. And there seems to have been even some ignoring of crowds to focus on just one at a time. The ratio of ignoring 99 for the sake of one seems a waste, but perhaps it is far more effective.
good thinking.
Roger
· 1 year ago
Trade, commerce, business, what you will is based on human interaction. Relationships are the basis of human interaction. Ergo, relationships are the basis of trade.
It's really a no-brainer that marketers want to communicate one-on-one with their customer. But modern economic systems dictate that mass-marketing is profitable because of the economies of scale. But mass-marketing methods are by definition "de-humanizing" because they must appeal to the "average" consumer and, of course, there is no such thing.
That is the importance of social media to business. It allows the economies of scale of mass-marketing with the appeal of individual one-on-one interaction.
juliewalraven
· 1 year ago
Chris, I totally agree that relationships matter and can't be ignored in the upcoming economy. I have always been good at building very good one-on-one relationships with my clients, resulting in many referrals and repeat clients over my 25 years as a professional resume writer.
What I have been bad at is communicating with them steadily and regularly. My clients are incredibly loyal but I need to let them know how much I appreciate that. Because I have not been single-minded (I have managed aspects of 2 to 4 non-profits during that time), I have ignored my own marketing and relationship building, which I now am trying to repair.
Bob Cargill
· 1 year ago
As a lifelong direct marketer, Chris, I have to – long pause – actually agree with you. Although I strongly believe that there is still plenty of room (and need) for brands to do everything they can to reach the right people with the right offers at the right time, everything about their marketing campaigns had better show respect for their constituents’ time and a genuine understanding of who they are as real human beings. That’s where social media plays such a huge, transformative role. I’ve been a blogging evangelist (and a big proponent of authenticity and transparency in marketing communications) for years now, but it wasn’t until recently that I saw the corporate world finally come around to the fact that the stark, naked truth is actually good for business.
Bridget Cavanaugh
· 1 year ago
If you can believe it, I still have this thing called a telephone on my desk. No, really. You would be surprised how much my clients appreciate when I use it to engage them, which is more frequently now for the reasons Chris mentions above. I'm turning to social media to connect with all of you smart people, but my trusty-old big-button phone for the revenue-driving relationship stuff. I'm sharing some of the questions I asked yesterday in conversation with one of our consumer products clients. Other good questions to ask?
1. What is your company's outlook for 2009? 2. In a word, what does the year ahead hold? 3. How do you think this economy will affect you vs. your competition? 4. What are you hearing from your retail and professional channels, suppliers, employees? 5. Did you agree with our conclusions regarding the product's Buzz/blog report we emailed to you the other day? 5. What did you think of the strategic recommendation/brief we sent you about re-aligning your messaging with the changes we're seeing in consumer spending? 6. Are we still on for lunch next week?
Craig
· 1 year ago
I agree, although I hope people don't call it relationship marketing 2.0. The whole 2.0 craze needs to end. But I do agree with the philosophy. Basically it's proactive customer service is how I would describe it. Instead of waiting for users with issues to come to you, go to where your users may be, and flat out ask how they can be of assistance. It's the same in retail stores where workers come to you to see if you need help, instead of you finding them.
Targets may help you extend your reach but I agree that taking care of the people already in your "tribe" is key to building a sustainabile business. This is a time when you find out who your real "friends" are. It is also a time to show your clients just how much you care about them. It will be well worth the investment.
I am new to the social media world, but can already see how powerful the tools, paradigms and practices are in bringing relationship back into the forefront. Yet I continue to be challenged by just how to create the kind of bonds that last a lifetime in a virtual world. Still a foreign concept to me.
KT
· 1 year ago
Agree totally, but we are the proverbial choir aren't we...those of us responding read your blog, follow you on Twitter....how do we convince the rest of the world?
Susan Murphy
· 1 year ago
It's time people started treating people like people instead of wallets.
It's time people started thinking about their business in terms of people and not in terms of the next big cash in.
It's time people started listening and stopped shouting.
Great post!
Paul
· 1 year ago
@Craig - start calling it 2.1 to get ahead of the mob (he he he)
I'm based in Melbourne, we are currently enjoying the Spring Racing Carnival with colleagues in Events reporting that spending on Corporate Marquees is down. In part due to the economic times, and in part because spending $1000 per head (+) to have someone send their P.A. and her new boyfriend does not seem to make sense (no disrespect to the P.A. or Prince Charming).
Maybe they will start to focus on relationship building by value adding instead of thinly veiled bribes, and, treat this as a process not an event. Oh, sounds a lot like Social Media.
Judd Wallenbrock
· 1 year ago
I am a recent convert to 'new world order' of social media and have embraced it wholeheartedly in my business, the wine industry. What I've discovered it that this medium is really a return to an older environment, when 'dialogue' was the key to learning about wine. That era disappeared as the industry became more self service & pundits preaching became the norm. With Twitter, Facebook, blogs, etc, we have returned to actually talking again, albeit using technology as the conduit. It is a great thing.
Quired
· 1 year ago
How you communicate who you are and what you do is as important for personal relationships as it is for business.
It is the experience that one anticipates to receive that inspires further inquiry whether it is boy meets girl or girl meets purse.
The projected experience is the catalyst for the beginning of the relationship. The actual experience (customer service/product quality) is what determines buyers acceptance or buyers remorse (a recommendation or a complaint)
The creation of media allows for the experience to be initiated by the seller. The more the media (the experience) speaks to or connects with the buyer the better the potential relationship.
A mindless pitch to the girl at the bar usually leads to a one nighter. A well thought out introduction might lead to a long lasting relationship.
Of course the guy can blow it if he doesn't empathize, participate and share after the honeymoon is over as with any business with their customer.
We need to move away from simple pitch advertising and short term conversion tactics. It is all about the relationship which starts from the first "impression" and into the future as long as attention is paid to whom you value.
The tools offered through Social Media interaction are just what the doctored ordered for businesses large and small. Those who use the tools with "relationships" in mind hold the key.
I can't agree with Chris more.
Amber Naslund
· 1 year ago
And we all nod, and say yes absolutely, relationships are what it's about.
But with customer trust and loyalty fragile at best, how many of us are really following through? I keep finding that we all engage in rousing applause for the "build relationships" mantra, but clearly some of us go right back to doing things the old way.
So I'm with KT - how do those of us that are doing our best to live and breathe this every day carry that torch to others? How do we bridge the divide of talk vs. action, put meaning behind the mantra? Talk is cheap. Losing trust is brutally expensive.
John P. Kreiss
· 1 year ago
This post hits home on the purpose of target marketing which sometimes gets lost. Building a successful business is about building relationships. Target marketing can help because it allows companies to focus on specific people or companies and develop relationships with them. since it's impossible to be an expertfor everyone or at everything, narrowing your focus and building relationships with few is much more effective than marketing to the masses.
No offense folks, but the comments this time are the same old same old!
Oh don't whine! Tough love is still love!
No one even realizes what a critical post Chris wrote here. If he wasn't so busy and exhausted, it would have included more of his hallmark wake-up lines and questions.
Yes your BMW was still in the driveway this morning, and you can afford a new Blackberry. You voted for Obama and despite the massive evidence contradicting all the campaign promises, (and the instant justification by the voices), you're going to play ostrich, and *hope* he's Santa, and *hope* it just automatically gets better. But it's going to get worse instead. I've never been a doomsayer, but if you don't:
Listen to the people you're engaged with, you're done. I said 'people', not prospects, not 'peeps' not 'clients'. They're on the same Titanic as you. Under the same pressure as you. If you're not listening, and helping them into a lifeboat you're done. We are in a trust economy. All the people I described a reputation monitoring tool to who laughed at the necessity, are now emailing frantically to sign up. Why? Because they can't afford any question of their word right now. You think feel too burned out to really care about your peoples' needs? Well to them their needs have to be addressed more efficiently than ever. You must hear them, think, care like you're on the same team (cause you are!), or someone else will eat your lunch. But they'll also have your contact next year when things start to rebound. It is actually easier to do a better job, right now, than to think you're spread too thin and slide. Because they can't let you be on autopilot.
Remember to see each transactional step in your relationships as though you are in their shoes.
See every interaction from your vendor, and customers point of view. If they feel you don't 'get it', you WON'T!
Ian
· 1 year ago
Hasn't business always been about customer relationships? Or am I just a difficult consumer.
I have had friends suggest that my expectations of companies are too high, but now that times are tough, we'll see what kind of expectations bubble up.
When consumerism is at its peak, people blindly accept the target marketing, but when the wallets are suddenly empty, consumers take off the blinders and remember who really gave them what they wanted and catered to their needs.
Quired
· 1 year ago
Am I missing something or was not the title of this post Target "Marketing".
How can you build a relationship before you have met your target. Many of the comments on this thread are discussing after the relationship has started which is certainly one of the most important things a business should focus on but how do you effectively invite and "target" your audience to kick off the relationship seems to me to be more of the discussion.
One thing I will say about Social Media and the conversations I have been following for the last year in the ether is the concern and almost distrust of the word "advertising".
You want to talk about the impending economic slowdown and the effect it will have on small and large business alike then we need to have a conversation about advertising, discovery, awareness, participation, enrollment, education and delivery of a product, a service or an event.
It is advertising and it is attached to products and services that need to be sold. And hell yes businesses need to wake up and be more productive, accountable and more willing to develop long lasting relationships.
But if they can't get them to the door then nothing else matters.
Create better experiences, educate, enroll and invite, utilize the tools that are readily available to empower an audience to discover you and get to work.
Sounds like advertising to me. Just more organic and much more effective.
Giselle Martínez
· 1 year ago
Chris: I understand your point related to direct marketing but I use this tool often for products that are better marketed this way. I do not feel this is a zero/ one situation. Either your are involved in social media or not. It seems to me that what you want to achieve is the two way conversation. It is like a teacher once told me. You want to sell, you have to be belly to belly with someone each day. The same occurs with social media only that this time is virtual belly to belly. Anyway, I believe the response to those marketing adds is what is most important. What does your customer receive in terms of service, confidence, knowledge, committment. Reaching him or her through social media or targeted marketing is just the beginning. You can have the personnal touch both ways. Is just a matter of using one or the other marketing tools or both. Thanks, Giselle Martínez
Kara
· 1 year ago
I think the goal of selling product is for people to develop a connection to that product so they become repeat buyers. If I really like a product and feel connected to its brand, it is a no brainer when I am standing at the store. I think in order for companies to do this in the current economy is to create a personality for themselves through social media channels. Once people grasp the companies personality, they will become more connected to the brand, and therefore become the item they grab for.
Jim Nolan
· 1 year ago
I came across your blog looking for articles about marketing and advertising. Congrats for the topics you´ve been posting. I´ll include a link from my blogroll. All the best, Jim Nolan sales@promogiftstore.com http://www.promogiftstore.com
Nathan Hangen
· 1 year ago
Awesome post. I'm in the business of targeting and I think you have some excellent points. I am a web consumer, actively looking for things to buy and I'm having a hard time, I can only imagine what the typical user experience might be. Time is money and I've got less time than money. Things are going to have to change.
Xavierism
· 1 year ago
Great post and valuable information. More so than ever, my goal is to continue build better relationships with my clients. A few are going through hard times. One had to let me go but I'm offering my services because I have that much faith in him and his services.
I hope you have a wonderful Christmas with loved ones. Thank you so much for helping gain confidence as a business person.
Cheers!
Club Penguin Cheats
· 2 months ago
Our ability to use the various social media to filter and bring us new data - and opportunities - is our greatest asset. And that's something where larger corporations and governments will be late-adopters.
All Comments
Our ability to use the various social media to filter and bring us new data - and opportunities - is our greatest asset. And that's something where larger corporations and governments will be late-adopters.
In short, social media relationships are the way to profit during this interesting downturn we are experiencing.
Short is the new big.
That gets folks reading.
Mike
good points chris. relationship marketing 2.0 style? greater return on smaller investment? dollar-wise perhaps but the learning curve will cost companies in many ways. i think upside will still outweigh it all.
would love to see your follow-up on this topic in 12 months.
You are right. Really what is happening is that big business is learning from small business. Small business owners don't have the luxury of large marketing departments, customer service call centers. They have to build relationships, they have to know their customers and how to not only keep that customer but maximize the potential that the relationship has. Social Media is the online extension of real life marketing / Social Networking, which is something that Small businesses have been doing well for years.
Simon
I was just having this discussion with a friend on Twitter earlier today...auto reply "thanks for following" vs the time to respond personally. I prefer the personal touch.
The old "customer service" principle and building real relationships...knowing who you're working with rather than being driven by best price only ...could be an underlying cause of the fix we're in today(IMHO)
Remember the good ole days of standing behind your word ...and using a handshake to seal a deal? ( DO I dare admit I do??)
I'm a firm believer of picking quality over quantity any day of the week...you really do get what & who you pay for....let people get to know you....as you get to know them.
Another bonus?....it's much more FUN too!
Thanks for the conversation.
Blessings...In Peace,
Jeri
(ApothecaryJeri)
However it is shocking to see the number of relationship based accounts in my peer-network that have been subjected to broadside after broadside because of the relationship.
Relationships really need to make sure they are being supported with an in-depth communication, as many stakeholders are having to support decisions based on numbers. That means that there are contaminated decision makers looking at budgets and results across departments and unfortunately you may bot have a relationship with the right person.
On a micro-marketing basis I agree open dialogs do not need to be targeted at a singular group that would defeat the openness. (follow me on Twitter: @jbweb)
good thinking.
It's really a no-brainer that marketers want to communicate one-on-one with their customer. But modern economic systems dictate that mass-marketing is profitable because of the economies of scale. But mass-marketing methods are by definition "de-humanizing" because they must appeal to the "average" consumer and, of course, there is no such thing.
That is the importance of social media to business. It allows the economies of scale of mass-marketing with the appeal of individual one-on-one interaction.
What I have been bad at is communicating with them steadily and regularly. My clients are incredibly loyal but I need to let them know how much I appreciate that. Because I have not been single-minded (I have managed aspects of 2 to 4 non-profits during that time), I have ignored my own marketing and relationship building, which I now am trying to repair.
1. What is your company's outlook for 2009?
2. In a word, what does the year ahead hold?
3. How do you think this economy will affect you vs. your competition?
4. What are you hearing from your retail and professional channels, suppliers, employees?
5. Did you agree with our conclusions regarding the product's Buzz/blog report we emailed to you the other day?
5. What did you think of the strategic recommendation/brief we sent you about re-aligning your messaging with the changes we're seeing in consumer spending?
6. Are we still on for lunch next week?
Craig
www.budgetpulse.com
I am new to the social media world, but can already see how powerful the tools, paradigms and practices are in bringing relationship back into the forefront. Yet I continue to be challenged by just how to create the kind of bonds that last a lifetime in a virtual world. Still a foreign concept to me.
It's time people started thinking about their business in terms of people and not in terms of the next big cash in.
It's time people started listening and stopped shouting.
Great post!
I'm based in Melbourne, we are currently enjoying the Spring Racing Carnival with colleagues in Events reporting that spending on Corporate Marquees is down. In part due to the economic times, and in part because spending $1000 per head (+) to have someone send their P.A. and her new boyfriend does not seem to make sense (no disrespect to the P.A. or Prince Charming).
Maybe they will start to focus on relationship building by value adding instead of thinly veiled bribes, and, treat this as a process not an event. Oh, sounds a lot like Social Media.
It is the experience that one anticipates to receive that inspires further inquiry whether it is boy meets girl or girl meets purse.
The projected experience is the catalyst for the beginning of the relationship. The actual experience (customer service/product quality) is what determines buyers acceptance or buyers remorse (a recommendation or a complaint)
The creation of media allows for the experience to be initiated by the seller. The more the media (the experience) speaks to or connects with the buyer the better the potential relationship.
A mindless pitch to the girl at the bar usually leads to a one nighter. A well thought out introduction might lead to a long lasting relationship.
Of course the guy can blow it if he doesn't empathize, participate and share after the honeymoon is over as with any business with their customer.
We need to move away from simple pitch advertising and short term conversion tactics. It is all about the relationship which starts from the first "impression" and into the future as long as attention is paid to whom you value.
The tools offered through Social Media interaction are just what the doctored ordered for businesses large and small. Those who use the tools with "relationships" in mind hold the key.
I can't agree with Chris more.
But with customer trust and loyalty fragile at best, how many of us are really following through? I keep finding that we all engage in rousing applause for the "build relationships" mantra, but clearly some of us go right back to doing things the old way.
So I'm with KT - how do those of us that are doing our best to live and breathe this every day carry that torch to others? How do we bridge the divide of talk vs. action, put meaning behind the mantra? Talk is cheap. Losing trust is brutally expensive.
John P. Kreiss
MorganSullivan, Inc.
http://www.morgansullivan.com
No offense folks,
but the comments this time are the same old same old!
Oh don't whine! Tough love is still love!
No one even realizes what a critical post Chris wrote here.
If he wasn't so busy and exhausted, it would have included more of his hallmark wake-up lines and questions.
Yes your BMW was still in the driveway this morning,
and you can afford a new Blackberry.
You voted for Obama and despite the massive evidence
contradicting all the campaign promises, (and the instant justification by the voices), you're going to play ostrich,
and *hope* he's Santa, and *hope* it just automatically gets better.
But it's going to get worse instead.
I've never been a doomsayer, but if you don't:
Listen to the people you're engaged with, you're done.
I said 'people', not prospects, not 'peeps'
not 'clients'.
They're on the same Titanic as you.
Under the same pressure as you.
If you're not listening, and helping them into a lifeboat
you're done.
We are in a trust economy.
All the people I described a reputation monitoring tool to
who laughed at the necessity, are now emailing frantically to sign up.
Why?
Because they can't afford any question of their word right now.
You think feel too burned out to really care about your peoples' needs? Well to them their needs have to be addressed more efficiently than ever.
You must hear them, think, care like you're on the same team (cause you are!),
or someone else will eat your lunch.
But they'll also have your contact next year when things start to rebound.
It is actually easier to do a better job, right now,
than to think you're spread too thin and slide.
Because they can't let you be on autopilot.
Remember to see each transactional step in your relationships as though you are in their shoes.
See every interaction from your vendor, and customers point of view. If they feel you don't 'get it', you WON'T!
I have had friends suggest that my expectations of companies are too high, but now that times are tough, we'll see what kind of expectations bubble up.
When consumerism is at its peak, people blindly accept the target marketing, but when the wallets are suddenly empty, consumers take off the blinders and remember who really gave them what they wanted and catered to their needs.
How can you build a relationship before you have met your target. Many of the comments on this thread are discussing after the relationship has started which is certainly one of the most important things a business should focus on but how do you effectively invite and "target" your audience to kick off the relationship seems to me to be more of the discussion.
One thing I will say about Social Media and the conversations I have been following for the last year in the ether is the concern and almost distrust of the word "advertising".
You want to talk about the impending economic slowdown and the effect it will have on small and large business alike then we need to have a conversation about advertising, discovery, awareness, participation, enrollment, education and delivery of a product, a service or an event.
It is advertising and it is attached to products and services that need to be sold. And hell yes businesses need to wake up and be more productive, accountable and more willing to develop long lasting relationships.
But if they can't get them to the door then nothing else matters.
Create better experiences, educate, enroll and invite, utilize the tools that are readily available to empower an audience to discover you and get to work.
Sounds like advertising to me. Just more organic and much more effective.
I understand your point related to direct marketing but I use this tool often for products that are better marketed this way. I do not feel this is a zero/ one situation. Either your are involved in social media or not. It seems to me that what you want to achieve is the two way conversation. It is like a teacher once told me. You want to sell, you have to be belly to belly with someone each day. The same occurs with social media only that this time is virtual belly to belly. Anyway, I believe the response to those marketing adds is what is most important. What does your customer receive in terms of service, confidence, knowledge, committment. Reaching him or her through social media or targeted marketing is just the beginning. You can have the personnal touch both ways. Is just a matter of using one or the other marketing tools or both.
Thanks,
Giselle Martínez
Congrats for the topics you´ve been posting. I´ll include a link from my blogroll.
All the best,
Jim Nolan
sales@promogiftstore.com
http://www.promogiftstore.com
I hope you have a wonderful Christmas with loved ones. Thank you so much for helping gain confidence as a business person.
Cheers!