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Sep29
Where is Whuffie? The importance of Social Capital

Run, don't walk, over to Tara Hunt's blog entry on The Future is Feminine

http://www.horsepigcow.com/2007/09/13/the-future-is-feminine/
and her slideshow on "How to Make a Gabillion Dollars with Community Marketing... or something like that"

http://www.slideshare.net/missrogue/making-a-gabillion-dollars-with-community-marketingor-something-like-that.

This uncommon marketer was one of the people I met when product testing Riya.com, the online photo search tool, and she currently runs Citizen Agency http://citizenagency.com, an interactive marketing firm based in San Francisco.

The theory of her presentation is that Whuffie http://en.wikipedia.org/wiki/Whuffie (reputation-based social capital) may become the dominant paradigm of social exchange, and that its focus on collaboration, open-source, cooperation, and sharing will ultimately overcome our current market forces of domination, competition, aggression, and one-upmanship.

I love the idea that we all have something to offer, and the more we are able to share our special, unique properties, the more successful we are. You could look at this as you selling your book and reaching hundreds, thousands, or millions of readers with your message, or you recording and selling your CD or DVD and establishing your vision or music in the minds and ears of fans around the world, or you taking your invention into production, and sharing your great gadget or design with people who benefit  and enjoy that product.

In Tara's presentation, she talks about "finding something that you can give away (without going broke)". I always recommend that other women business owners do this: it may be as a mentor on a one-on-one basis or in a group setting, it may be pro bono consulting or product samples for worthy causes, or it might be supporting someone else who really needs your assistance.

In our case, we offer a number of resources on website design, and on my ASuccessfulWoman.com blog, I'm adding a number of articles related to women's success in work, play, and life.

If "whuffie" becomes the medium of exchange, then we will all benefit from a standard where "doing good" is required to advance. This goes far beyond cause-related marketing, or targeting messages to a certain part of the consumer market. This means accumulating social capital based on your relationships, your reputation, and your good name (things that you have to earn, not buy).

What is your "whuffie" score and how are you going to earn your social network? How responsive is your company? How well will you deal with a world where relationships really make the difference? I'm curious to know readers' opinions on this.

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5 Comments/Trackbacks




Hi Monica, EXCELLENT article! You explained it better than I could have myself! Yeah, I'm pretty hopeful with the idea of whuffie and social capital. Market capital (money) is made often by doing not so nice things to one another (cheating, taking advantage of, etc.). Social Capital works the opposite.

Dear Friend,
A group of researchers at University of Nevada, Las Vegas, are investigating effects of Weblogs on “Social Capital”. Therefore, they have designed an online survey. By participating in this survey you will help researches in “Management Information Systems” and “Sociology”. You must be at least 18 years old to participate in this survey. It will take 5 to 12 minutes of your time.
Your participation is greatly appreciated. You will find the survey at the following link. http://faculty.unlv.edu/rtorkzadeh/survey
This group has already done another study on Weblogs effects on “Social Interactions” and “Trust”. To obtain a copy of the previous study brief report of findings you can email Reza Vaezi at reza.vaezi@yahoo.com.

» Is Facebook your Friend? The Rise of a Global Information System from SistersInBiz
We are in a global civilization, where one mistake or one bad judgement is now public knowledge, forever. "I thought I was trying to be up with the latest technology. I guess a little bit of knowledge could be a... [Read More]

i think this post is the great place for those who r insenstive or ignorant to the importance of social capital.it offer significant anaytic purchase.it is also an easy way to measure the levels of understanding between people and their mutual benefits.well tremendously nothing could be better on earth if people are able to exercise their unique properties through social capital.

» Organization of Chinese Americans Annual Dinner from SistersInBiz
I just returned from a wonderful trip to Honolulu to attend the annual Organization of Chinese Americans (OCA) Hawaii Chapter installation and scholarship dinner, a fun-filled event with honorary guests, a silent auction, lucky raffle tickets, and ente... [Read More]

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