Relationship era definition

5 principles of breakthrough success in the "Relationship Era"

relationship era definition

As consumer psychology changes, marketing enters a new era, when human needs, values, and connections define success and failure. But you can arrange for them to form an “idea relationship” with you. the industry still clings to a definition of relationships that doesn't map to. Culture is the “stories we tell ourselves about ourselves,” wrote Clifford Geertz in What the virtuoso anthropologist meant: stories reveal.

Whenever demand outstrips supply, it creates sellers market. At the time, Black was the only color available. Supply exceeded demand for most products; therefore, competition for customers becomes more intense. During this Era, Marketing generally took place after a product was developed and produced Even today, many people associate Marketing with Selling or Advertising; however, it has become much more than that.

Companies needed to determine what customers and then produce products that met those wants and needs, as opposed to producing products and then trying to convince customers to buy them. The marketing concept also focuses on aligning all functions of organizations to meet or exceed this customer needs through superior Products and customer service, as well as realizing a profit not just sales by satisfying customers over the Long Term. GE was one of the First companies to implement this new Marketing Strategy that Focused more on meeting the needs of the Customer.

This requires constantly taking the pulse of changing customer needs and wants and then quickly adapting to meet them. Even today, companies such as Apple have had great Success following this Philosophy. The marketing concept is good for acquiring customers by offering customized products, among other things, but like Hive Studio perception which is customer relationships management goes one step further by trying to please customers after the sale.

It combines IT with customer service and marketing communications to retain customers to stimulate further sales of similar or supplementary product.

5 principles of breakthrough success in the "Relationship Era"

Customers on the list also receive information about sales and promotions to keep them up-to-date on the latest deals at the store. In practice, CRM often involves the sales force gathering information about specific customers to create a customer database.

This can carry you to glory or down into the pits of forget. Consumers realize that they have this power and they brandish it in their favor. They take no relationship for granted, whether it is human or corporate. You should give equal priority to this facet of social media. That means viewing consumers as constellations of interlinked relationships.

They are connected to their families, their friends, their co-workers, and their lovers. They are roads to bridges that exist online in perpetuity. As a marketer, if you think affectively about advertising, you can enter those circles fluidly.

The way to accomplish this, first and foremost, is to understand how social media works, especially Facebook. You must think of social media less as channels and more as roads to human lives. What are these roads paved with?

They are paved with human observations, ideas, concerns, hopes, dreams, fears, opportunities, failures, and all the things that make us complex and exciting. To put it bluntly, until you establish genuine relationships with your consumers, no one will care what you say on these channels.

You can spend millions of dollars on social and never see a return on investment. When you cultivate these relationships from the heart, your consumers stand behind you like they would a friend.

relationship era definition

The more they let you into their lives, and more they share your content, your thoughts, and your brand with their intimate circles. What Does It Mean? I have already made it abundantly clear that trust is the basis of marketing and business success in the Relationship Era. For a company, trust means humanizing the institution. People trust companies for much the same reason they trust people: Predictability, reliability, support, honesty, loyalty, respect, shared values, and empathy.

To get into the nitty gritty of trust, MEplusYOU parsed out the concept of trust into three, living components: The presumption of reliability and dependence must take primacy. The brand should connote credibility so that its claims and promises can be assumed to be as good as given.

This is about engaging your customers where their lives matter. Consumers are consistently reading into the actions of corporations.

relationship era definition

They try to divine true motivations, beliefs, values, and purposes. Your actions must align with your motivations in tangible and perceptible ways. Take risks to promote your values. Your starting point with the brand must be the Why behind your business activity. Why do you do what you do? Once you have identified that, let it inspire every part of your business.

If that Why is less about corporate success and money-mongering than it is about relationships, then your customers will feel better about jumping on the band wagon.

The Why should determine everything about the company. Your hiring practices, your corporate structure, your product design. Your Why must be reflected in all that you do. Only then will the brand become synonymous with your Why, and only then will customers grow to trust it. Secret has been around since It was advertised as the first deodorant for women. Looking to pivot its brand identity, Matt Hollenkamp, Secret associate brand manager, picked up a compelling story.

Olympic medalist, Diana Nyad, at years-old, was training to swim miles of open sea between Havana, Cuba and Miami, Florida. After some negotiation, the team agreed to a sponsorship.

relationship era definition

All within one week. The agency shot three promotional videos with Diana. Then, a day before the swim, she postponed. Subsequently there were additional postponements because of hurricane season.

She was forced to put off her historic effort until the following year. Counterintuitively this was a great occurrence for Secret. They shot another video with Diana, launched a unique website and received hordes of well-wishers who wanted to follow her preparations for the historic swim. When the time came, Diana set off to the South Atlantic on what proved to be a doomed journey. She started the swim with a fleet of kayakers with shark repellant electronic technology and other protections, but none against box jellyfish.

A swarm repeatedly stung Diana. It compromised her breathing. This eventually forced her out of the water. She tried again and swam 49 miles in 40 hours before jellyfish stings put her at risk of anaphylactic shock. Her third and final attempt had a similar fate. This story exemplifies the power of relationship-based marketing.

relationship era definition

Even before Diana dove into the water, Secret sales had skyrockets. Despite never finishing the race, she won the respect of millions who had followed her intently on the Secret-sponsored Facebook page and website.

The brand succeeded not because of its products but because of its support of and association with someone whose struggle was inspiring to its customers. They wanted to be a part of her journey and of Secret. Relationships Are About Membership This story and others like it show us that nowadays brands are about membership and less so about products or services. In a sense, the goods and services become secondary. There are a few questions that marketers should ask themselves when such membership opportunities come about.

Does the campaign hinge on the experience of the person s at the center of the initiative? Does the campaign gratuitously exploit the emotions of the audience? Is the association between the brand and the initiative transparently genuine and equitably transactional? Does the campaign adhere to the stated or implicit Why of the brand? The best part is that the people who liked the page wanted to be members, and every positive interaction reifies their decision of membership.

Membership in the Relationship Era goes far beyond an approval to join, however. What do I mean? The problem is that we may not quite grasp why this is positive at all. Yes, the bottom line is to increase revenue, so you may wonder how getting a few followers and having them engage with content will help boost revenue? The answer is quite elementary. Sharing is a human need. Evolutionary psychologists tell us it is hardwired into our genes.

Theoretically, without this primitive need, complex human societies might not have developed. According to psychology professor, Samuel D. Gosling of the University of Texas, sharing is not just about action. It is also about display. When we display sharing we tell people about ourselves, about our character, about our preferences.

When we do this we both maintain and create social bonds. This has discernible evolutionary advantages. It also has marketing advantages. From a marketing perspective, the display of sharing is a form of currency. When your audience engages through shares, likes, and comments they are informing others that the content is worthwhile. There is something good here. It is so good that I interact with it. That alone builds credibility. If you as a brand respond on those sites and engage, then you engender care.

Contingent upon what the substance of those interactions are, you can generate congruency. With those three things, in one environment, you have built trust. The point about of substance is key. The content you put out and the content that others put up tells others something about your brand. Some will describe that as providing value. No matter the nomenclature, the heart of the content revolution is strong relationship building. When you provide high quality content, you give people more reasons to share.

When you give people more reasons to share, you build stronger relationships to those people and to the people that they share with. Overtime you are associated with content that matters because more people engage with it.

Marketing: Historical Perspectives |

This is great because the content matters only as much as the people engage with it. Slightly more complicated are the layers of engagement. There is definitely a hierarchy there. For instance, a like is not as impressive as a comment; a comment is not as impressive as a share; a share is not as impressive as a video reaction; a video reaction could be as good as a written post about the content; and so on.

As you rush along with this content revolution, make sure that what you share on your social media channels reflects your company values, beliefs, and identity. And make sure that what you share is worthwhile. The goal should be to increase strong, relationship-building engagement and to make sure that the content people engage represents your brand identity.

How to Decide What Kind of Content to Share The recipe for deciding what content a brand should share is simple enough. Just think about how you build relationships with individual people. Is the content a reaction to customer feedback? Brands can monitor what is being said about them. Your customers will tell you what is worthwhile about the brand.

relationship era definition

Listen to them and act accordingly. Be transparent about this.

The 5 Evolution Eras of Marketing | The 5 Evolution Eras of Marketing / Hive Studio

Is the content aligned with your brand identity? Much like a person has a character, your brand does too. The brand needs a social voice, a perspective, a set of values. Define those early on and stay the course.

Is the content responding to customers directly or indirectly?