Return on Relationship (ROR)

Relationships hold a very important place in our Indians social life. But in economic life too relationships have started gaining their relevance. Building a relationship with existing and future customers is the true value and strength of social media and social marketing and what will and has allowed brands to survive and flourish for the long-term. Each and every business entity on the social media is aiming to catch the maximum fan following. Organisations are trying to assign a Cedi value to a Facebook fan or Twitter follower instead of addressing the fact that the engagement and interaction that takes place on social media are incredibly important to a brand. Return on investment (ROI) is incredibly important whenever investing, but companies have to start looking at Return on Relationship (ROR), when planning, strategizing and most importantly, evaluating social marketing especially smaller competitors who can more easily drive and control Relationship Marketing. Social Media drives engagement, engagement drives loyalty, and loyalty correlates directly to increased sales.