Relationship ROI

Updated: June 10, 2009

I've found that this marketing role is often a very misunderstood and unappreciated. In many companies, even large established firms, field sales reps still think of the marketing department as a toy store or creative services department or a ticket outlet. "I'm going to my customers' site; can you make me a customized flier on our product and give me some cool giveaways? And can you get us tickets to the next Giants game, too?" Ugh.

There are multiple reasons for this lack of understanding and appreciation. In the past, marketing departments weren't able to effectively convince upper management that they were adding value or, as they like to say, contributing to the bottom line revenue goals. Nowadays, there are many quantitative tools and solutions that offer various methods to measure your marketing ROI. I'll examine some of those tools in future blog posts. So how does a modern day marketer convince their C-level management on the ROI of their social media efforts?

"One way to think about your ROI on your social media efforts is that the traffic you get on your blog and your You-tube videos and the number of followers you have on Twitter is creating relationship ROI," advises Lorrie Thomas, Web Marketing Therapist. "It's building and reinforcing your brand and helping readers to know you, like you and trust you. These are three key components of a good social media relationship."

CEOs may not have a strong grasp of marketing ROI but they certainly understand the importance of building key relationships. Just think about their love of golf and schmoozing with other C-level executives. They may not be talking overtly about their company and its solutions, but they are building relationships, helping other executives get to know who they are and feel good about the company. It's a way of building trust and openness to smooth the way for business to happen.

You can build that relationship and have your blogs feed automatically into Twitter and FaceBook. You can even track the conversion process as readers follow you all the way to your website. It's a beautiful thing to be able to easily make this happen with a few mouse clicks.

Featured Research
  • 8 Reasons SMBs Should Invest in a CRM

    Adopting a CRM platform early offers many advantages, including the fact that it increases the odds of long-term success. While the cost of CRM software used to be prohibitive for most small businesses, this is no longer true. Cloud-based solutions have made the pricing much more competitive, and as many as 87% of companies now rely on them for their CRM software. more

  • 7 Ways Your CRM Helps Convert Leads

    Failure to convert interested leads can impact your bottom line drastically and simultaneously increase your operational costs and decrease your profits. The most common reason for this failure is lack of follow through from a sales team. Did you know that 74% of CRM users said that their CRM gave them improved access to customer data? And that by properly implementing a CRM, a business could shorten the sales cycle by 8 to 14%? more

  • Is Your CRM a Liability

    Is your CRM a liability? Before you answer too quickly with a no, just think about all the advancements that have taken place over the years regarding this technical solution. In fact, just in over the past decade there has been a dramatic shift away from on-premise systems to cloud based solutions. more

  • 12 Must-Have CRM Features

    Having a CRM is absolutely essential to any modern day business's success. In fact, 91% of companies with 11+ employees now utilize a CRM solution in their business. When making the decision to purchase or upgrade your CRM solution, it can be quite overwhelming determining which features are essential to your success versus those that pack more fluff than punch. more

  • Making the Case for a New CRM

    Did you know that having an outdated CRM is just as bad as not having one at all? Do you find yourself working even just a little too hard to make your current CRM work to maintain your contacts and relationships? While it is increasingly more difficult to reduce customer churn, modern CRM tools are much more powerful and provide much more opportunity to develop stronger relationships with your clients that can provide more stability and revenue to your company and bottom line. more