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Relationships underpin innovation and marketing
Matt Wonnacott, founder of Ennovamark, writes on a subject on many people’s minds this week
“Seeing as it was Valentine's Day this week, I wanted to explore the effect relationships have on business, as well as innovation and marketing. There's a classic quote that saying ‘hello’ doesn't have a return on investment - it's about building relationships.
Mark Cuban, the billionaire, measures value as: ‘Value is measured in the total upside of a business relationship, not by how much you can squeeze out of any one deal’. You keep a customer happy, by treating them well, and chances are, they will do anything to keep that relationship going.
Relationships for an innovators mindset…
In the book 'The Innovator's Mindset', the author writes: ‘The three most important words in education are: relationships, relationships, relationships. Without them, we have nothing’. And it all starts at an early age, too - learning the importance of building and sustaining relationships; if we set an innovator's mindset deeply in relationships, grow a habit to learn, and to be curious about how we can make the world better, children will have a strong platform that will serve them well in the future.
Personally, having been exposed to both innovation and marketing from an early age, I have seen the real, true value that relationships offer both business functions. Often, your innovation isn't as valuable to the client as the value they place on your honesty and reliability.
Strong relationships are behind strong ideas…
Behind every strong idea, there is a strong relationship forming. The relationship between yourself, the idea, your team and your client. This can be an idea for marketing or for a product innovation, the same applies. Without a relationship of sorts, the idea falls away eventually.
Relationships matter more now than ever before…
I've always been a firm believer in building and nurturing long-lasting relationships, and my opinion is shared by many others too. In a world that is becoming ever more fragmented and more competitive by the day, the 'art' of building relationships seems to have slipped from some people's minds. It's a smart investment that doesn't really cost anything - being honest, polite and truthful with your customer is a recipe for success. The opposite is a recipe for disaster.
‘Work isn't work if you're alongside like-minded people’…
Over the course of my career, working for a highly innovative company, it was actually the values of the business and the relationships that were formed that people wanted back from the company the most. Innovations come and go and marketing trends change over time, but a good business relationship can last a lifetime. After all, it is a basic human need - to feel loved and valued, like you matter to others. That's no different in business. Customers want to have their opinions matter - after all, in a sense, they helped your business grow so why wouldn't you stay close to, and listen to, them?
In my new role as founder of Ennovamark, relationships are absolutely essential. I've a new saying (which probably isn't new at all actually!) but I often say to my clients: "Work isn't work if you're alongside like-minded people, whom you see as family or friends."
I started this blog, how I will end it. Always remember three of the most important words in business; Relationships, relationships, relationships. Without them, we have nothing.
Thank you to the clients, followers and prospects of Ennovamark for making our first few months in business, just lovely. We love that you chose us. Your support will never be taken for granted.
Ennovamark is a new agency created to help aircare, hygiene and washroom technology brands and businesses develop effective innovations and marketing strategies. With two decades of experience in the industry, Matt Wonnacott, through Ennovamark, can support clients with outstanding product ideas and truly innovative ideas - both for branding and products.
16th February 2023