Relationship Economics

A friend of mine who runs a non-profit restaurant in San Francisco was recently visited by a group of staff members from Twitter. Their goal--help her organization maximize their relational capital through social media. Within hours, Twitter executives were tweeting about their upcoming reservations at this restaurant and hundreds of followers were engaging in a virtual dialogue. Great marketing? Yes. But it was much more than that. This was about relationships and belonging--being part of a larger community of people who valued similar things. The nature of multi-family housing lends itself to this kind of maximization of relationship economics but many of us are still using social media primarily to distribute generic articles and event calendars. What a waste!

In a recent study of LinkedIn users, researchers established a clear correlation between an organizations level of leadership sharing using social media and higher levels of engagement and optimism within an organization. Companies with high engagement in social media are statistically more competitive, more profitable and enjoy more loyal customers.

It may be time to shift your social media strategy to one that engages your employees, residents and prospective residents in relationship. We'd love to hear what you're doing to personalize your community through social media!