Relationships Rule: Creating Organizational Value by Leveraging Relationship Marketing
“If you’re someone people count on, particularly in difficult moments, that’s a sign of a life lived honorably.” – Rachel Maddow
How many times have you purchased products from brands you don’t trust? How many times have you donated to a charity that doesn’t align with your values? I mean sure – you may contribute a courtesy donation to Aunt Sally’s community potluck fundraiser or pick up a generic brand because it’s on sale. But I would submit that your real commitment is to those organizations or brands with whom you feel you have an authentic relationship – one that is relevant to your life.
So if these authentic relationships are so important, how do we, as business owners, create them? If I’ve learned one thing in business over the years, it’s that the firehouse marketing approach- the “one size fits all,” will fail almost every time. Long gone are the days where companies can advertise themselves into being relevant, without having a real relationship with their customers.
This is the fundamental premise of relationship marketing. As brands, we must move beyond the “one- time” transactional relationships of older marketing models, and move toward strategies that consistently produce mutual value.
How does a brand begin to focus on relationship marketing? I think Jeff Haden summed it up best in a 2013 INC article when he said, “the most extraordinary professional relationships are built on ordinary actions.” Here are three such actions that you can put in place with your brand, no matter how big or small, to begin the process of improving how you deliver quality relationship marketing for your organization.
Be clear about your partner’s objectives- and yours. Developing a strong relationship marketing program begins with alignment. Have an honest conversation with your partner about to mutual value of the relationship, and what you both expect from it. Kate McKay wrote a great piece on how to approach this process strategically.
Keep communications open. Engaging in a two-way conversation is critical to building a good relationship. Once you’ve found common ground within the partnership, it is important to develop an authentic relationship. Recognize that every relationship is different, and invest the time to understand what will be required to make each one successful. Also, use a variety of channels and opportunities to solicit feedback. And, act on it. Let your partners know that you hear them. Include their feedback in product improvements and enhancements that you make along the way. Domino’s did a great job with this when they were seeking to improve their product. It was painful—but helpful. You can check out this short video to see how customer feedback led to a company turnaround.
Show appreciation. Find unique ways to thank your customers. And remember, appreciation begins at home. A 2012 Bersin and Associates study found that companies who excel and employee recognition and engagement are 12 times more likely to produce strong business results.
If you want to build successful business partnerships, put down the cookie cutter and start listening.
By Sharon Byers, chief development officer at the
American Cancer Society’s global headquarters in Atlanta
Photo by Davydov | Shutterstock
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