Building business relationships in the age of authenticity and accountability
It seems that whatever the topic, the previous generation have wrecked it for the next. Between OTT business lunches and old school jollies, not to mention the small matter of the financial crisis and various bribery scandals, do we accept collective responsibility for ruining client entertainment forever, or have the younger ones actually never had it so good?
The social age has ushered in new ways to form business relationships
Young gun or old in the tooth, everyone has operated under the same very heavy manners and near non-existent entertainment budgets of recent years. Yet now, as the world returns to its new normal, what do the upcoming generation of future business leaders have to say on the subject of modern client entertainment and relationship building in the digital age?
The message last week from the current leaders was very much of the indefatigable value of spending time in front of your clients, getting to know them and understanding their business needs better.
It seems the new generation share exactly the same opinion, but above all, it's social media making the big difference today in developing personal business networks. That, plus new levels of transparency and realigned priorities, together adding new levels of authenticity to the client relationship dynamic.
George Hayward, account manager at international property marketing specialist Four Communications provides the first insight: “Mostly in my generation the biggest influence on personal business relationships comes from social media. We are connecting more than ever, sharing more and more information, making it that much easier to build these important relationships. We can track each other's careers and grasp a better understanding for someone's personal life.
"As a result we are able to use tools such as Linkedin to create authentic representation of ourselves and really focus on those that we consider to be the best connections in our ever growing networks. It allows us to invest quality time in our future, something that can slip by in client entertainment.
"That said, in my experience client entertainment and human interaction in the real world can be unbeatable in building truly lasting relationships."
The transparency of social media and subsequent crossover between business and private life is a new development in business, when previously we all enjoyed a far greater level of separation between the two.
Emma Prior, account executive at MEC Global, makes an interesting point about the Bribery Act being the new normal, as well as the need for business and private persona separation: “Having been in media for under a year means that I have always worked under the bribery rules and regulations, so I don't necessarily feel that I am missing out on anything, after all you can't miss what you have never had.
"It is important to build relationships with clients and suppliers alike but this has to be done in a more formal way, in meetings or maybe over a coffee – no all afternoon lunches or trips away for me and my fellow digital natives. Building some relationships on social media is also important but I try to keep that strictly to industry formats like LinkedIn and would never consider being friends with clients on Facebook. There has to be a certain amount of distance between work and my personal life, however it remains to be seen if these distinctions will blur over time."
Rob Blythe, the young co-founder of Instant Impact, a firm matching the brightest graduate talent from leading universities with start-ups and smaller entrepreneurial companies, says, “We school each of our graduates in the importance of developing relationships to establish strong business networks. In the social media age an authentic persona is critical – and this means managing private social sharing as much as developing an appropriate personal presence on LinkedIn or Twitter for business”.
Gabrielle Brunton, account executive at London lifestyle PR firm Street & Co, adds, “We have all heard of the alcohol soaked lunches and launches, but in business today, personal credibility is key. No one would wish their clients watch them fall over drunk, and really, modern business demands a more practitioner approach to developing great relationships – this is an age of accountability.
"In the absence of weekly opportunities to mingle with the great and the good, social media makes it easy to reach out to those we most admire, and engage them in business dialogue as a solid pre-cursor to actually meeting them in person."
It's a sage and aware outlook the younger generation has, but the accessibility benefits enabled by social media are of course there for all. Certainly, in the absence or lessening of client events, social media offers cost-free connections. So, there is really no excuse for not having a strong, current and expanding business network.
Back on the face-to-face angle, Stephanie Hardwick, recently promoted business director at Brothers & Sisters, says: “The more formal side of networking with clients, such as attending industry-run events, offers valuable opportunities to meet the sorts of people you wouldn't normally get exposure to in your day-to-day role.
"But with places for younger agency folk and clients at such events often rare, I think the informal side of 'client entertainment' grows ever more important for those looking to progress in the industry. It's about building a relationship with your peers outside the daily grind, whether they're fellow agency people or clients, and whether that be a one-on-one coffee or a team thank you lunch. It's important that agencies recognise the potential value of these connections and invest in them, for the benefit of the client-agency relationship, but also to support the development of the younger generation."
The acknowledged power of social media in establishing and developing business relationships or your own personal brand will not surprise this audience. In a strategy-obsessed industry, however, it would probably surprise us all how few actually have any planning behind their own social media activity.
We're giving the last word to Jaye Thomson of Modus PR and his advice to those starting out in the industry: “It's all about relationships – building your network is the foundation of your career." Advice that we came across via a tweet from industry notice board Fashion Monitor, and could not agree with more. The message? Get yourself out there, engage your peers and impress upon the leaders.
Next week, the story moves on to the 'How To', starting with the soft skills required to excel in client entertainment, when the opportunity arises, and also digging out the smarts in terms of applying strategy to building your own personal business networks. See you next Thursday.
Until then, check out the Twenty Rather Good Shouts for client dining courtesy of Mr. Sykes Modern Concierge.