ROR: Return on Relationship, #RonR, simply put, is the value that is accrued by a person or brand due to nurturing a relationship. ROI is simple dollars and cents, ROR is the value (both perceived and real) that will accrue over time through connection, trust, loyalty, recommendations and sharing. AND is used to define and educate companies, brands, and people about the importance of creating authentic connection, interaction, and engagement.
There are a lot of Events Companies out there, A LOT! How do you stand out… do a great job, sure; deliver what you promise, of course; execute on creative ideas, indeed. BUT, I’d venture a guess that only limits the field, it does not SET YOU APART. If you truly want to stand out, grow and nurture relationships, learn about and understand your partner clients (yes think of them as ‘partners’), and deliver on personalized and consistent engagement. Create and nurture a reputation for personalized and engaging service… that is what CLANDESTINE EVENTS + EXPERIENCES is all about.
For me, and I learned this early on from my parents, especially my Dad, is that it is All About Relationships, and he impressed upon me to “do for others without expectation of anything directly in return.” It’s more about what you build as your reputation and how people think about you. As you continue to practice this, others will notice, and will reciprocate in a spirit of giving. That’s been a huge part of my life and my success despite numerous setbacks. And listening to others is an important part of that. So many times we listen to what people are telling us but we don’t really “hear” what they’re saying. Are you really hearing what I’m saying—actively listening—and truly paying attention? My Mom, who was an educator, would say to me as a kid, “Honey, you need to really hear what they’re saying, not just take notes and listen.” To me, it’s such an important thing.
I consider Return on Relationship ROR (#RonR) greater than ROI, because ROI will match a fixed period of time, or perhaps be income related, whereas ROR will have a “halo” effect. For example, two projects can have the same ROI, but if one was done with better relationship management, it has the added benefit of a “satisfied” customer or relationship… it’s like “I” + compassion.
What happens is that when people are happy and satisfied, they will share that. There’s a misconception in the digital world that people complain more than they share good things. I don’t think that’s true. I think a lot of people get tired of hearing others complain all the time—but nobody gets tired of hearing, “Oh this restaurant was amazing,” or “OMG I just had the most awesome experience with this brand—you’ve got to check out their products!” People seek out those kinds of references much more so than they seek negative ones. A company that steps up its engagement game will not only protect and extend its organic reach, but also find a significant competitive advantage. We all love when someone listens to us. When your customers get that from you, their excitement will spread along with your reach and reputation, which is what I call ‘Return on Relationship.’ Your Brand is what you do… Your Reputation is what people Remember AND Share!