When it comes to business and marketing, one term keeps coming up again and again. Return on Investment. Or ROI. This refers to the financial returns you get from your spending—whether it’s social media advertisements, events and webinars you host, or classes and workshops you run. Everything you spend energy and resources on needs to give you something in return.
Relationships, however, aren’t like that. At least, they shouldn’t be. When you make friends with someone in your neighborhood, you’re not expecting something from them in return. Just because you gave them tomato chutney from the abundance in your garden doesn’t mean they have to give you a loaf of bread. That’s what we wanted to talk about this week—relationships, not bread. How and why you should build genuine relationships on social media. And we invited Zen Yinger, a social media strategist and CEO of ZenSocial.
Here’s a summary of our chat.
Guest: Zen Yinger
Topic: A Return to Return on Relationship
Format: Eight questions directed at the guest. Everyone’s welcome to share.
It’s a play on ROI—Return on Investment. However, while ROI is a measure of financial gain from your investments, Return on Relationship—or RonR, as our guest put it—is a measure of how much returns you get from your relationships with friends, family, colleagues, and your society.
That doesn’t mean you engage with someone expecting something in return, though. That’s just immoral social behavior. Instead, make your conversations sincere, treat the other person with respect, and in the long-run, you’ll realize that your relationships are worth more than you imagined.
A1a #ReturnonRelationship is the value you gain from nurturing authentic relationships with your connections, clients, colleagues & community, with ZERO expectations. This leads to long term gains in the form of trust, friendship, loyalty & recommendations. #TwitterSmarter #RonR pic.twitter.com/T3UhnuPVxH
— Zen Yinger (@ZenYinger) May 28, 2020
As our guest informed us, the term Return on Relationship was coined by social media strategist and the CMO of brand content creating app, Photofy, Ted Rubin. He first came up with the term as social media was exploding as a solid relationship building network and the term stuck.
A1b. The term #ReturnOnRelationship was first coined by the wise @TedRubin, when #socialmedia was gaining momentum as a way to learn, share and foster relationships. #RonR has stayed with me ever since. #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
As with ROI, Return on Relationship applies to business also. For example, every conversation you have with your customers, your potentials on social media, and prospects in real-life events will translate to business. The more transparent you are in your relationships, the more referrals and word of mouth marketing you’ll get.
A1c. Like #ROI, #RonR can be used to measure biz success. #ROI represents positive gains in financial figures. #RonR applies to the value we accrue through Recommendations, Referrals AND Word Of Mouth from our customers & communities. #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
As Jake mentioned, focussing on Return on Relationships will bring back focus on what social media was meant to be—social. The sole purpose of your relationship will be the relationship itself, and not a sale, a referral, or a social share. All of those will happen naturally.
A1: I love this idea of bringing social back to what it's meant to be – social.
Not heard this before this today – having a relationship because it's valuable itself rather than because it leads to a transaction sounds great#TwitterSmarter
— Jake Symons (@jakeswrites) May 28, 2020
Social channels, and Twitter in particular, are excellent for listening to your audience and keeping up with the latest community activities. Be your own sincere self, and you’ll have a good chance of making great connections.
A2a. If you begin by being your authentic self, you're half way there. #Socialmedia #Twitter are great ways to listen to your community, show support, offer info & help without any agendas. You create an impression, you bond, develop #trust– the basis of #RonR #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
The biggest challenge with social conversations nowadays, as our guest pointed out, is that a lot of businesses rely on sponsored content and promotions. And so, they no longer have genuine interactions. It’s come to the point where the more money you have to spend on social media, the easier it is for you to get engagement.
A2b. Ever since #socialnetworks started offering sponsored content/promoted ads. & marketing started benefiting from social ad buys, I feel we have lost sight of our purpose #RonR, why we decided to join #social in the first place– to learn, share & grow! #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
However, it’s vital to remember why we joined social media in the first place—to connect with real people, to make friends, to share, and to learn. And that’s exactly what we’re seeing during this pandemic. So many people have recognized the value of social interactions. And it’s become more important than ever, for as we all stay safe in quarantine, we’re missing hugs and coffee catch-ups and meeting friends and family. Social media is once again fulfilling our need for human connection.
A2c. Amid this #coronavirus pandemic more and more folks are seeking a need for deeper connections and engagement. #Socialmedia is the perfect social distancing public square to offer support, help and build solidarity. #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
If you’re wondering how to get involved in such meaningful conversations, Twitter chats are a great place to start, as Janette suggested. Whatever cause you care about, whatever industry you work in, whatever business practice that inspires you, there’s a chat for that. Find one and you’ll find your social media kin.
A2. In times like these. This is it! This is our socializing. It's also a great time to build meaningful relationships. Twitter has Twitter chats and this is a good and safe place to start. #TwitterSmarter https://t.co/l1lRGMJKO1
— Janette Speyer- Independent #Flipboard Mkt. (@JanetteSpeyer) May 28, 2020
There’re a ton of businesses out there that talk about themselves and what they’re doing to help customers on a daily basis. However, that’s not the only purpose of having a social media presence. Having a social account is a way to establish trust, build a community, and to define who you are as a brand. Over time, your social channels will become proof of who you are and how you stand out from the rest of the competition.
A3a. Socialmedia is how you define your digital brand. Legitimize it. Create awareness. Establish your social authority. To stand out among competitors, you got to bring your A game. Find your voice. Walk your talk. Make sure you are living up to your “why”. #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
As our friend from OnePitch said, though you should focus on providing service, that’s not all you should do. Most people will come back only if you’re listening to your audience intently and consistently offering support.
A3) Your service is why they come but your customer service is why they stay! Social media helps enhance and maintain strong customer service and #RonR management in real-time. #TwitterSmarter
— OnePitch (@onepitchsaas) May 28, 2020
Another of our chat regulars emphasized the importance of offering content that’s useful to your audience, ensuring you solve real problems, and offer personalized care.
A3. If you are just offering a service on social media, then this takes us back to transanctional views of how we should behave around our customers. That ship has sailed.
Relationships is about offering content that solves problems & personalised interactions.#TwitterSmarter
— Draseum (@draseum) May 28, 2020
Make your social media interactions about people. See that you show your real personality. People want to do business and interact with other people. Instead of hiding behind the mask of your brand, make yourself the representative of the brand.
A4a. You are not just what you do for a living. People do business with people – not brands. #Socialmedia is a great place to learn & connect with folks in your industry. Build your thought leadership through authentic convos. Don't just value add – Value People! #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
When you participate in Twitter chats and actively contribute to discussions, you’re showcasing your knowledge and that you’re also willing to hear and learn from others.
A4b. Join #Tweetchats like #TwitterSmarter to share and add value to the convo by sharing your thoughts and experiences. Your digital exhaust is just as imp. as your digital footprint. Say what you mean and mean what you say. Try to stay positive. Rising tides lift all boats! 😀
— Zen Yinger (@ZenYinger) May 28, 2020
A great way to humanize the brand, as Jim suggested, is to use video replies. If you manage a brand’s social media handle, you can also sign off your tweets with your name. It’s an excellent way to show your audience who you are and to keep the interaction transparent. So many people choose brands just because they know who they’re talking to.
A4: Use video to respond. I like how even @SMExaminer that whoever is running the account uses their name, like Jen
of @Agorapulse with Deb#RonR #TwitterSmarter https://t.co/mTRlEyYIVg— Jim Fuhs Digital Marketing Consultant #SMWL20 (@FuhsionMktg) May 28, 2020
Smita made another interesting suggestion: if you’re the owner of a business, consider letting your employees take over your social account for a day or two. That way, you can show your audience more about your team, their personalities, and the variety they bring to the business. Of course, if you do this, make sure the content still follows the brand’s established tone and policies.
A4 #TwitterSmarter#RonR
Many brands do social media account takeovers by either their employees/clients. Showing the real faces of the people working behind the scenes. Sharing true client testimonials on how their brand helps solve a challenge. Tone of voice, empathy can impact— MarketingFromHome (@Smita_DigiMarke) May 28, 2020
Our guest told us how after a long career, she had to take a break as a mother. However, when she returned, she had a hard time adjusting to all the changes that’d taken over the corporate game.
A5a. Where to begin? After 15+ in CorpComm, then away from it as fulltime mom, when I tried to re-enter the workforce I realized the corp. ladder had morphed into a jungle gym! I found myself navigating this intricate grid trying to get a foothold. It was tough! #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
Thankfully, her connections from LinkedIn and Twitter were there to help her when she needed it the most. They recommended her for better opportunities and supported her as she reclaimed her career path. That’s an ideal example of Return on Relationships—because she prioritized those relationships, they did the same for her.
A5b. #Twitter #LI was where I started learning, un-learning and re-learning. Met, learned from, got recommended by the most talented, helpful & wise gurus, influencers, peers and clients, most of whom I’m now honored and blessed to call my friends. #RonR WORKS! #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
One of the biggest lessons to take away from Zen’s experience is that it takes the help of a lot of people to succeed on social media. Without a supportive community that believes in you and is willing to stand by your side, it’s hard to get any further.
Deb from Agorapulse is another great example of Return on Relationships. She said that the only reason she got her job as a community manager at Agorapulse is because of the relationships she managed to build over the years. And that’s the key point—you can’t build those relationships in a couple of days. It takes years, and several in most cases.
A5: I have my job as the Community Manager at Agorapulse from Return on Relationships that were build over several years! -deb #twittersmarter https://t.co/HrRNyHGV1C
— Agorapulse (@Agorapulse) May 28, 2020
Because Return on Relationship depends so much on real-time, two-way conversations, Twitter is obviously a great social channel for that. Not only do you get to interact with anyone in the world, you can also use it as a listening tool to keep up with your customers, your competitors, and well-wishers.
LinkedIn and Facebook do their part too—they’re good for following trends and current events, and even though they’re not as reciprocative and instantaneous as Twitter, they’re still valuable channels to keep an eye out for.
A6a. Our communities make our brand the next big thing. #RonR is a 2 way street. Listening is critical. Twitter' great for real time, industry relevant, news/convos/chats. FB & LI help us stay informed on relevant topics/trends & engaged with peers/clients. #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
All that said, however, as Lance mentioned, you should also consider your goals, your social capacity, and current audience before choosing a platform to build relationships. After all, if more of your audience uses LinkedIn, you have to spend more time and energy there.
#TwitterSmarter A6: The “best” social media platform differs for everyone and the #RonR is dependent upon what your goal(s) are. If you’re a startup, it might be best to be on more professional networks where you can find mentors. If you’re promoting a product, FB might be best.
— Lance A Schart (@LanceASchart) May 28, 2020
It’s easy. As long as you understand that RonR is totally worth it.
A7a. It’s never too late to go back to what made our life purposeful, meaningful and happy – If #RonR was that happy place. Pivoting is a no brainer. #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
Start by spending more time socializing on social media. Unfortunately, nowadays, most marketers and social media managers spend so much time analyzing data and keeping up with key performance indicators that they don’t have enough time to engage with each other.
A7b. If you are drowning in data, chasing metrics and overwhelmed by algorithms, well hopefully soon we’ll have #AI to do all that, 😉 so we can get back to the business “being social”, instead of “doing social”.
— Zen Yinger (@ZenYinger) May 28, 2020
Our guest suggested filtering out 10 people who influence you the most on social media and understanding what about them and their content makes them so attractive to you.
A7c. Choose 10 folks on any platform of your choice that have made an impression on you, that you can learn from or who are doing what you one day want to do. List the reasons why. #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
Then follow-up on their interactions, see how they engage with their audience in their conversations. Participate and offer your suggestions and you’ll gradually learn from them.
Felix gave us another idea to reap the benefits of relationship building. Just as you engage with people who inspire you, motivate your audience to engage by creating their own content. User-generated content is a great source of social proof and credibility. You can initiate it yourself with a simple shout out to your biggest fans and customers. This, in turn, encourages them to engage with you even more.
A7. Encourage engagement by all means. Provide value. Encourage shout-outs and UGCs among others.#TwitterSmarter
— Felix Akande (@FelixJAkande) May 28, 2020
It’s not as easy as counting the number of retweets or likes on your tweet. Relationship building on social media goes beyond quantitative transactions. They’re not based on immediate needs, but are, instead, based on how available you are for your community.
You won’t see the results right away, but if you keep focussing on developing relationships, over time, you’ll see your reach and business grow just through referrals and word of mouth marketing. You’ll sense it and then you’ll see it.
A8a. #RonR is high when we are able to nurture our relationships, so that they are not just transactional, need based, but grow into meaningful, earnest and fun relationships. When your focus is on serving your community, peers, and clients you grow your #RonR. #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
One way to trace this, as Sam said, is to keep an eye on repeat businesses. Or in other words, customers who return to buy from you not only because they liked your product or service, but also because they could resonate with you as a person.
A8- By keeping track of repeat businesses.#TwitterSmarter
— SamNaz (@naaz410) May 28, 2020
To finish off, Zen quoted Ted Rubin, saying relationships are the new currency of our world. Nothing matters more, and that’s why you should invest in genuine relationships.
A8b. “Relationships ARE the new currency – honor them, invest in them, and start measuring your #RonR!” ~ @TedRubin #TwitterSmarter
— Zen Yinger (@ZenYinger) May 28, 2020
Well, folks, that’s all from me this week. Thanks so much for reading through and for more great insights from our chat with Zen, take a look at this Twitter Moment that Joana put together.
If you’ve got some time to spare next Thursday, join us for the #TwitterSmarter chat at 1pm ET.
Take care and stay safe, everyone.
About me, Narmadhaa:
I write all things—technical and marketing copy to fill the pocket; haiku and short stories to fill the soul. A social media enthusiast, I’m a member of the #TwitterSmarter chat crew, and always happy to take on writing gigs.
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