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Sarmad Hyder, Head of Saudi-based Bold Comms part of The Bold Group, stresses on the imperative for the ad industry to embrace what is known as Return on Relationship (RoR) and the adoption of a more human-centric marketing approach.
In recent years, the advertising industry has undergone significant changes. The traditional model of interruption-based marketing has lost its effectiveness, replaced by a more human-centric approach that is centered on building relationships with customers. This is where Return on Relationship (RoR) comes in.
Ted Rubin, a leading social marketing strategist, has been a vocal proponent of ROR for many years. In his view, the value of any business lies in its relationships – with customers and its employees as well as with its wider community. By valuing these relationships and taking a more human-centric approach to marketing, businesses can unlock significant value and drive their success.
In the advertising industry, RoR can help brands and agencies build strong connections with their target audiences, resulting in more effective and impactful advertising campaigns. RoR provides a powerful framework for driving success. By shifting the focus of marketing from selling to building relationships, businesses can create more authentic and engaging campaigns that resonate with customers. This can help build brand awareness, drive customer loyalty, and ultimately boost sales.
When we say engagement, we refer to, rather than simply broadcasting messages to customers, let’s focus on creating opportunities for customers to engage with their brand. This could involve social media marketing, influencer partnerships, or other forms of interactive content.
In order to fully leverage the power of RoR in the advertising industry, it's important for brands and agencies to prioritize relationship-building over short-term gains. It's also important to remember that ROR is a long-term strategy. Building relationships takes time and effort, but the rewards are significant. A loyal customer base can provide a stable revenue stream and act as brand ambassadors, helping to attract new customers and grow your business.
Its impact within the company or agency is as important to that with their clients or customers. Some criteria of RoR internally in an organization could include measuring employee engagement, loyalty, and advocacy. Tracking metrics like employee attendance, satisfaction with the company culture, and willingness to recommend the company to others can help organizations assess the strength of their relationships with their employees. Additionally, organizations might also look at the strength of their relationships with other stakeholders within the company, such as suppliers or partners. For example, tracking the frequency and quality of communication with vendors or evaluating the satisfaction of business partners with the company's arrangements could contribute to an assessment of RoR metrics.
Ultimately, RoR is all about valuing relationships over transactions. By focusing on building genuine connections with customers, businesses can create a more sustainable and successful future. It's time for the advertising industry to embrace this new paradigm and adopt a more human-centric approach to marketing both within and externally..
