The book that catches the crest of Web 2.0 and shows how any business can harness its power by increasing whuffie, the store of social capital that is the currency of the digital world.
Everyone knows about blogs and social networks such as Facebook and Twitter, and has heard about someone who has used them to grow a huge customer base. Everyone wants to be hands-on, grassroots, and interactive, but what does this mean? And more to the point, how do you do it?
As one who has actually launched a company using the power of online communities, and who now advises large and small companies, Tara Hunt (named by the San Francisco Chronicle , along with luminaries Jimmy Wales and Tim O’Reilly, as a digital Utopian) is the perfect person to do this book.
While The Whuffie Factor will traverse the landscape of Web 2.0 and show how to become a player, it is not just another book about online marketing. People see the huge business potential of the online world and the first impulse is: Let’s throw a bunch of money at it. To which Tara Hunt says: “Stop! Money isn’t the capital of choice in online communities, it is whuffie–social capital–and how to raise it is at the heart of this book.” In the Web 2.0 world, market capital flows from having high social capital. Without whuffie you lose your connections and any recommendations you make will be seen as spam–met with negative reactions and a loss of social capital.
The Whuffie Factor provides businesspeople with a strategic map and specific tactics for the constantly evolving, elusive, and, to some, strange world of online communities. By connecting with your customers through community interaction, you’ll raise your social capital, create demand, and sell more product. Consumer loyalty is a direct result of whuffie. With great stories of online business successes and cautionary tales of major missteps–recording industry, anyone?–Tara Hunt reveals how social networking has more influence over buying decisions than any other marketing tool and how your business can tap into the vast world of Web 2.0 to build an unshakable foundation for twenty-first-century-style online success.
For those without millions–even thousands–to throw around, here is a fresh perspective for using social networks to help build a business whether you are a start-up or a Fortune 500 giant. Even those in big rich companies need to learn how to be effective and not waste their money. For them–as well as the entrepreneur– The Whuffie Factor is an eye-opening guide to a world they probably don’t understand all that well.
From the Hardcover edition.
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|Title of eBook: The Power of Social Networking|
|Release Date: 04-21-2009|
|Allowed Countries (hover)|
|Publisher: Crown Publishing Group|
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The Power of Social Networking
HOW TO BE
A SOCIAL CAPITALIST
If someone comes up to you and, out of the blue, asks: "How's your whuffie?" don't call security.
I'll explain why shortly, but initially I want to make a couple of assumptions: first, that, like everyone in business--from a Fortune 500 company to the start-up just opening its doors--you want to be more hands-on, _grassroots, and interactive to maintain a continuous flow of information to and from your customers; and, second, that you've seen a steady rise in the money you spend for marketing and promotion but a decline in the return on that investment. Yet every time you turn around, there seems to be a story about a business that's grown a huge customer base at little or no cost by catching the Web 2.0 wave--the world of mass collaboration and social networking--using blogs, Facebook, MySpace, Twitter, and other social networking tools. But when you go online and check them out, all you see is a bunch of chatter and noise. So, you think to yourself, "How do I make sense of it all?"
The question is how to do it. Catching the social networking wave of Web 2.0 is neither as easy nor as straightforward as it might seem at first blush. Simply spending money and trying to buy your way into online communities works about as well as a dude in a Brooks Brothers suit trying to fit in at the skateboard park.
To succeed in this Web 2.0 world, you have to turn conventional wisdom on its head and become a social capitalist. A social capitalist is as ravenous as corporate titans like John D. Rockefeller and Bill Gates for success, but the coin of the realm is different. People are on social networks to connect and build relationships. Rela...