Relationships, relationships, relationships! How many times have you heard this or read about the importance of building relationships with prospects and customers, especially when talking about social media? Countless times I would guess. Well, like it or you’ll continue hearing that magic word “relationships” in the years to come. Why? Simple: with the mainstream adoption of always-on real-time communications and information available at our fingertips, your customers demand that you know how you can add value and meaning to them in a highly personalised manner. Creating and delivering such value is at the heart of building relationships.
The reality, however, is that these value-adding, multidimensional relationships are rather a myth.
That’s what Edelman reveals with the results of brandshare 2014. It’s a study of 15,000 consumers in 12 developing and developed countries, across 11 industries, that sought to understand the evolving relationship between people and brands. The focus was discovering what drives value for business and for the consumer.
Examining brand behaviour and performance, Edelman found that there’s actually little value exchange between brands and consumers. The majority of people believe their relationships with brands are one-sided (66%) and purely transactional, where consumers are solely contributors bringing benefits to the brand by buying, but not receiving much in return. Current interactions between consumers and brands add more value to brands than to consumers. Continue Reading »
This is not a typical post for this blog. For the first time, I am not really going to talk about PR, social media, business (in the direct sense) or sustainability. This piece is about one of my other major passions – fashion. I am doing a Massive Open Online Course (MOOC) called Managing Fashion and Luxury Companies (a great course by the way!), which opened my eyes about the peculiarities of the fashion business and particularly the luxury segment. So today, I am going to show you some really amazing videos about the uniqueness of luxury products and how heritage, legacy and manufacturing mastery underpin the storytelling of luxury brands.
Before I move on to the videos, here are some key things I have so far learned from the course to help you better understand the meaning and power of these stories.
What makes up the concept of luxury? Three things:
- Human touch
The luxury industry is about value creation, it’s about selling a dream, a feeling, an experience non-comparable to another. Luxury brands are therefore required to strike the balance between providing an intrinsic product value (e.g. superior quality, handmade, unique, precious, with extraordinary design, limited) and an intangible element related to it – giving the desired dream effect or special feeling, often determined by the exclusive branding or the aspirational lifestyle that the brand embodies. Continue Reading »
In a previous blog post I talked about the art of persuasion and the ethical principles of influence as defined by Robert Cialdni. Today, I want to share with you further important principles from the work of another brilliant man – Dale Carnegie and his best-selling book “How to Win Friends and Influence People”. The difference between this post and the one about persuasion is that with the advice from this post you can go a step further – from influencing people to making friends, or in the language of business, from influencing strangers to delighting them into becoming your loyal followers.
I read Carnegie’s book a while ago and I’ve been thinking about how to best present my impressions. He offers valuable advice in the form of well categorised principles and I though it doesn’t really make sense to just list them. So I got a little creative and put together an infographic that serves as an ethical guide to human relations and making friends.
Why is that important in your professional life?
As Dale Carnegie says,
“Dealing with people is probably the biggest problem you face, especially if you are in business.”
Continue Reading »