Today’s brands face an apparent choice between two evils:
continue betting on their increasingly ineffective
advertising or put blind faith in the supposedly mystical
power of social media, where “likes” stand in for
transactions and a mass audience is maddeningly elusive.
There has to be a better way . . .
As
Lennon and McCartney wrote a half century ago, money can’t
buy you love. But in today’s world, where people have become
desensitized—even disillusioned—by ad campaigns and
marketing slogans, that maxim needs an update: Money can’t
even buy you like.
That’s because we’ve entered
the “Relationship Era,” where the only path for businesses
seeking long-term success is to create authentic customer
relationships. Not through hip social media promotions,
viral videos or blizzards of micro-targeted online ads.
Those tactics, which simply disguise old ways of thinking
with new technology, just don’t work in the long
run.
So what does work in this bewildering new
era? Where do “authentic customer relationships” come from?
The answers will make some leaders sigh with relief while
others rip their hair out: Honesty. Transparency. Shared
values. A purpose beyond profit. Sure you still need a
high-quality product or service to offer, but that’s not
enough. Now that people can easily discover everything
that’s ever been said about your brand, you can’t
manipulate, seduce, persuade, flatter or entertain them
into loyalty. You have to treat them like flesh-and-blood
human beings, not abstract consumers or data points on a
spreadsheet.
It may sound like the woo-woo
language of self-help books and inspirational wall posters.
But as Garfield and Levy show in this book, it’s the deadly
serious reality of business in the 2010s. It’s why General
Motors abandoned its $10 million annual budget for Facebook
ads, and why some brands have hurt themselves badly on
social media by nagging, interrupting, abusing and generally
ticking off their customers.
The good news is
that some companies have already embraced the Relationship
Era and are enjoying consistent growth and profits while
spending substantially less on marketing than their
competitors. The authors show what we can learn from case
studies such as . . .
Patagonia, a clothing
company with a passion for environmentalism, which
solidified its customer relationships by urging people NOT
to buy one of its jackets.
Panera Bread, which
doubled per-store sales by focusing on ways to create a
welcoming environment while spending just 1 percent of
sales on advertising.
Secret, the women’s
antiperspirant brand, which gained significant share by
focusing on its commitment to strong women.
Krispy Kreme, which has built a near cult of loyal Facebook
and Twitter fans, all but obliterating the need for paid
advertising.
Blending powerful new research,
fascinating examples and practical advice, Garfield and
Levy show how any company can thrive in the Relationship Era.
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