Wednesday, November 19, 2008

Social graphs one up traditional segmentation studies

Excerpt: "It may well be that direct communication between people is a better indicator of deep similarity than any demographic or geographic attributes," wrote the authors, then-NYU grad student Shawndra Hill (now a professor at Wharton), NYU professor Foster Provost and Chris Volinsky, a researcher at AT&T Labs.

Read the rest of the article:

Go social media! Yeah value creation!


Transparency and Trust

Excellent article in Fast Company magazine on building trust through transparency.

In a related thought, have you ever read David Maister's book, The Trusted Advisor? In it he shares what he calls the Trust Equation. I've made a slight adjustment but the equation is basically that Trust equals Credibility plus Reliability plus Emotional Connection divided by the level of Self-Orientation.

In the past the focus has been on Credibility and Reliability but today's emphasis on Transparency shifts the focus to Emotional Connection and more importantly level of Self-Orientation, which indirectly affects Emotional Connection. As humans, we will always have some level of self-orientation but when we listen to our customer and act in an honest and open way, the customer will often give us a break for having a little self-interest.

Read the article and then fill in your trust equation in regard to a specific customer, friend, or family member.

Would being a little more transparent create a lot more trust in that relationship?

Be trustworthy,