The Whuffie Factor: Using the Power of Social Networks to Build Your Business

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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.
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About the author

TARA HUNT was the co­founder of Citizen Agency, a community-marketing consulting firm based in San Francisco, and is now leading the marketing efforts for Intuit’s partner platform. She has been cited in national newspapers such as the Wall Street Journal and the New York Times and is well-known in the Web 2.0 technology and start-up worlds for her community-­marketing experience. Her blog, Horsepigcow.com, explores themes in marketing and economics and has been pivotal in raising Tara’s own whuffie in the online marketing space.
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Additional Information

Publisher
Crown Business
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Published on
Apr 21, 2009
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Pages
320
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ISBN
9780307449412
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Language
English
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Genres
Business & Economics / Entrepreneurship
Business & Economics / Marketing / General
Computers / Web / Social Media
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Content Protection
This content is DRM protected.
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Eligible for Family Library

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Social networks are no fad. They’re a permanent reality: one that offers immense opportunities to smart, innovative businesses. Now, top social networking consultant Juliette Powell reveals how dozens of innovators are driving real ROI through
social networks–and how you can, too.

Powell’s wide-ranging research, including coverage on Barack Obama's successful online strategy in his bid for the presidency, focuses on technology, media and gaming companies, leaders in fashion, beauty, publishing, finance, retail, event planning, and beyond. These powerful narratives illuminate the reality of doing business on today’s social networks as never before. Through them, Powell introduces new best practices, shows how to avoid crucial pitfalls, and helps you prepare for the newest trends in online social networking.

Drawing on the latest research, Powell connects the dots, uncovering the human dynamics and patterns that consistently underlie successful social networking initiatives. Along the way, she offers practical tools and advice for optimizing every stage of your own social networking initiative–from planning through measurement, and beyond.

Getting on, getting started, and making social networks work for you
Defining and implementing your optimal social networking strategy Leveraging the amazing power of the microcelebrity
Achieving worldwide impact in the niche that matters to you Transforming social and cultural capital into financial capital
Be generous, build your trusted personal network–and discover all you get in return Profiting from the knowledge you never knew you had
Opening your organization’s own social networking channels– inside and out
Today's Hottest Trends for On-the-Spot Marketing!

"A must read for media and marketers.”
—Alan Cohen, CEO, OMD USA

"What do fish tacos, data storage, and disaster relief all have in common? Each has harnessed the power of marketing that amplifies via the real-time social web. These and many other case studies are part of this engaging new book that details strategies for marketers to understand, evolve, and profit in the social age."
—John Gerzema, Chief Insights Officer, Young & Rubicam, and coauthor of Spend Shift

"Understanding what's possible and how to use social media will be essential for every marketer; this book will hold your hand in this brave new world."
—John Miller, CMO, NBC Universal TV Group

"Like it or not, social media is here to stay. It needs to be understood, managed, and harnessed. This book tells you how. Read it!"
—Zhihang Chi, Ph.D., Vice President and General Manager, North America, Air China Limited

"Beverly Macy is a true innovator and thought leader in the field of social media marketing."
—Cathy Sandeen, Ph.D., MBA, Dean, UCLA Extension, University of California Los Angeles

About the Book

In an era when information travels at phenomenal speed along the “real-time Web,” a brand can explode into popular culture overnight--and die just as quickly. As a marketer, how can you stay ahead of the curve? How do you control the chaos? Two words: Social Media.

With The Power of Real-Time Social Media Marketing, you'll learn how to take advantage of today's "fluid" business environment and develop innovative ways to meet market demands. And here's the best part: all your tools--Facebook, Twitter, YouTube, and other sites--are free!

Leading figures in the exciting new world of sophisticated social media marketing, Beverly Macy and Teri Thompson explain how you can use this global, real-time platform to change how consumers interact with your brand. They then present detailed case studies illustrating how top organizations and emerging brand giants have proven the remarkable effectiveness of social media marketing. Find out how:

The American Red Cross turned a single "tweet" into $33 million worth of donations to earthquake victims in Haiti Orange County Transportation Authority engaged citizens to participate in transportation planning and use DIRE CTV boosted customer loyalty and trust by finding and solving complaints in real time EMC transformed business processes by leveraging workforce social media proficiency and "open" behavior models

Marketers no longer have the luxury of time to develop, test, and measure a brand. Use the lessons in The Power of Real-Time Social Media Marketing to launch your brand in a fixed amount of time, accurately measure the impact of your activities, and instantly adjust to any unforeseen events.

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