My Ask? A Handshake!

As I continue to assess businesses, I've observed a notable yet unsurprising pattern. The overreliance on social media, where companies adopt a "set it and forget it" mentality, has drastically shifted the dynamics of the business landscape. Faced with heightened competition in the market and a decline in consumer purchasing power, businesses that once heavily relied on social media to drive sales are now experiencing attrition.

As a result, I've observed that this phenomenon is prevalent across various industries in the American business landscape and affects businesses at every operational level. Whether it's the erosion of large-cap tech giants or the tightening of supply chains, all aspects of business are tasked with "weathering the storm."

In these times, the solution for large-cap companies to maintain their traction is relatively straightforward. Despite facing attrition, companies such as Apple, Amazon, and Netflix remain stalwarts of the American and global economy. In essence, these companies just need to stay the course.

What is the solution for the Small Businesses?

Small businesses, on the other hand, need to focus on honing their relationship marketing skills. At the fundamental level, they should scrutinize their unique value proposition, which should be apparent to any prospective customer. In a highly restricted spending environment, small businesses should rely on their interpersonal skills to establish enduring relationships. So, how can they initiate such a lasting bond? With a firm handshake!

During the most recent Rotary International Multi-District President-Elect Trainings held in Syracuse, NY, a gentleman selling raffle tickets approached me and asked if he could "shake my hand"? I replied by gesturing an extension of my hand. Suddenly he grabbed my forearm, twisted the position of my arm to a 90 degree angle, and then, began shaking my forearm which caused my hand to "shake". I was flattered.

"In an age when consumers have countless choices at their fingertips, relationship marketing has become more important than ever. By building strong, personalized connections with their customers, businesses can differentiate themselves from competitors and foster long-term loyalty." - The Wall Street Journal, "Why Relationship Marketing Is Key in the Age of the Empowered Consumer" (March 15, 2021)

At The Jones Group Of Western New York, we believe in the importance of relationship marketing and make sure that it's an integral part of our strategic and operational plans. We strive to nurture strong connections with our customers by engaging in activities such as joining boards or organizations and hosting happy hours for clients. As society continues to recognize the significance of relationships, we remain committed to not letting businesses forget about the power of relationship marketing.

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