I recently stumbled across a new way to think about return on investment. The author of the post suggested that instead of analyzing strategies from a 'return on investment' basis - we instead analyze the strategies and opportunities from a Return on Relationship view.

Personally, I really like this. In 2004, I was campaign manager for a closely competed Maine State Senate district race (in southern Maine). One of the strategies we used was to identify COIs - people who were Centers of Influence with large personal networks.

When you analyze your marketing strategy - do you target COIs? What is the Return on Relationships from engaging these COIs at tableside? Better yet, what is the ROR on searching for and engaging COIs through social media?

Tags: ROI, relationships, strategy

Views: 111

Reply to This

Replies to This Discussion

This method of thinking makes me salivate! Yes relationships are critical, networking paramount, but return on relationships as a metric - that makes me giggle. Please don't forget we do not reside in a socialistic country. Leave soft skills to your HR team. Drive velocity, reduce waste, and increase volume. Better yet, toss me your phone number - I will buy you next year.
Glad I could contribute to you salivating and giggling, Kelly. By the way, welcome to FohBoh!

I'm not sure I get the connection to socialism you propose. About leaving soft skills, there are tens of thousands of operations that do not have an HR team. Relationships with all stakeholders are tantamount and crucial to operator success, just as driving velocity, efficient production are. Increasing volume is dependent on all these factors, and others, working coherently and collaboratively.
Blach!

I think Andrew Carnegie just rolled over in his grave.

Pass the bordeaux. I need a drink.
Wow, love the ROR focus.

Being able to develop some serious ROR can do wonders for a restaurant among all the social networks available to customers.

Really Really like the focus of Chalkboarder and the influence your having on Fohboh Jeffrey.

Take care,
Brett
Brett,

Thank you greatly and humbly.

Jeffrey
Interesting questions. What matrices are deployed to evaluate or analyze the data? What can be used as benchmarks and how are they determined? Are there methods to recognize defects in measuring and are there any best practices that may be used in other industries? How was it accomplsihed in yoru political circle and was it effective (did you win?)? Obviously it is easy to recognize a starting point in an ROI (the investment) and therefor easier to see results based on a fninancial set of data. I would like to learn more..

RSS

Advertisments

 

DEPARTMENTS

Social Wine Club for Craft Wineries

Smartbrief

Read the latest

Read the latest food and beverage coverage by SmartBrief in SmartBrief Originals: -More

Kids LiveWell turns 3 with 42,000 participating eateries

NRA's Kids LiveWell program has grown from 19 restaurant brands to 150, with 42,000 U.S.  -More

JOBS & CAREERS

Posting a job or finding a job starts here at FohBoh. Call us about special $50 posting packages to syndicate across all major jobs boards.

National News

Ward Whitworth Named President for On The Border Mexican Grill

On The Border Mexican Grill & Cantina, which was recently acquired by Border Holdings, LLC, an affiliate of Argonne Capital Group, today announced the appointment of Ward Whitworth as President of On The Border.

The Melting Pot Targets Houston and El Paso, Texas for Franchise Expansion

Restaurants, Inc. announced today that it is actively seeking franchisees to expand its presence throughout the Lone Star State, naming El Paso and Houston as target markets for future franchise development.

Encore Restaurants Purchases 8 Existing Five Guys Restaurants, Plans to Develop 45 More

Encore Restaurants, LLC, a subsidiary of Dallas-based Encore Enterprises, Inc., has announced the purchase of eight existing Five Guys Burgers and Fries restaurants across central California including Elk Grove, Fresno, Lodi, Natomas, Roseville, Stockton, Tracy, and West Sacramento.

Takeout Orders to Hotels Jumped 125% in Popularity in Last Three Years

For many Americans, hotel room service is considered a travel luxury; however, data from PFK Hospitality Research1 suggests that room service revenues fell 9.5 percent from 2007 to 2012, with some hotels shuttering unprofitable operations altogether.

National Restaurant Association Praises House and Senate Commerce Committee Passage of Travel Promotion Act

Yesterday the National Restaurant Association (NRA) praised the House passage and Senate Commerce Committee markup of the Travel Promotion, Enhancement and Modernization Act of 2014. The bipartisan legislation reauthorizes Brand USA, the nation’s first global marketing campaign, to promote the United States as a destination for international travelers.

CROWD FUNDING

If you are looking for capital to start or grow your restaurant, create the next 501c3, develop and launch the next app for the restaurant industry,or want to help your peers in some meaningful way, we want to know about it.

TED TALKS VIDEO

TED: Ze Frank: Are you human? - Ze Frank (2014)

Have you ever wondered: Am I a human being? Ze Frank suggests a series of simple questions that will determine this. Please relax and follow the prompts. Let's begin …

TED: Heather Barnett: What humans can learn from semi-intelligent slime - Heather Barnett (2014)

Inspired by biological design and self-organizing systems, artist Heather Barnett co-creates with physarum polycephalum, a eukaryotic microorganism that lives in cool, moist areas. What can people learn from the semi-intelligent slime mold? Watch this talk to find out.

TED: Shih Chieh Huang: Sculptures that’d be at home in the deep sea - Shih Chieh Huang (2014)

When he was young, artist Shih Chieh Huang loved taking toys apart and perusing the aisles of night markets in Taiwan for unexpected objects. Today, this TED Fellow creates madcap sculptures that seem to have a life of their own—with eyes that blink, tentacles that unfurl and parts that light up like bioluminescent sea creatures.

TED: Nikolai Begg: A tool to fix one of the most dangerous moments in surgery - Nikolai Begg (2013)

Surgeons are required every day to puncture human skin before procedures — with the risk of damaging what's on the other side. In a fascinating talk, find out how mechanical engineer Nikolai Begg is using physics to update an important medical device, called the trocar, and improve one of the most dangerous moments in many common surgeries.

© 2014   Created by FohBoh.

Badges  |  Report an Issue  |  Terms of Service