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.






