I've been reading a number of books, blog posts and articles about social networks recently and finally got a chance to read The Whuffie Factor by Tara Hunt. The book has a lot of great insights and focuses on the power of
conversations and communities rather than the tools themselves which I think
is very important.
For those that aren't familiar with the concept of "whuffie", it's the social capital you earn and can then use as currency in the online world. While the term was new to me as well, Tara did a good job of explaining it and then used it as a theme throughout the book which helped to tie it all together.
I really liked the chapter called "Find Your Higher Purpose" and in particular the section on "Think Customer-Centrically". Tara lists a number of items, including doing everything to keep your customers on your website to thinking you don't have any competitors, that signal your company is not thinking customer-centrically. I wrote about the need to understand your competition recently as well.
As I read the list, I realized that most if not all of us would be hard pressed to admit we have not done at least one of these items in the past. In many cases, you may even be still doing them. Continuing to follow this flawed strategy will definitely not lead to more whuffie.
Tara then goes on to give examples of companies including Southwest and 30 Boxes that take a very customer-centric approach. She then builds a compelling list of signals that demonstrate you are more customer-centric and explains that if you are doing these things you likely have a strong whuffie account.
Of course, there are many other great insights and lists in this chapter and the book, including a summary at the end of how to get started and raise your Whuffie Factor.
My one complaint was that the start of the book was somewhat repetitive with others as it used examples that are very similar to those used in other books and articles on social networks. Then again, if this is the first book you've read on this topic they would be new to you. As well, I may be finding them more repetitive because this is an area I've been reading about a lot lately. I do appreciate new examples and this book had those too.
I definitely recommend reading this book for great lessons from a number of different companies on how to build better communities and have meaningful conversations with your customers. I know I learned many things I can apply and also look forward to finding ways to achieve my higher purpose. Thanks Tara.
[Image courtesy of Tara Hunt''s The Whuffie Factor website]
