Customer Reviews

Conversational Capital: How to Create Stuff People Love to Talk About

5 star:		(30)
4 star:		(35)
3 star:		(29)
2 star:		(12)
1 star:		(2)

 

 

Overall:
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The book is a high-level description of "Conversational Capital" or what makes a consumer into an active advocate for your brand combined with the description and benefits of lifestyle brands. The key concepts are: Rituals, Initiation, Exclusive product offering (EPO), Over-delivery, Myths, Relevant Sensory Oddity (RSO), Icons, Tribalism, Endorsement and Continuity. Each concept is given examples using well-known brands to help you understand the concept. The designing process is defined at a high-level with some useful tips. However, it does not really have anything revolutionary or even barely evolutionary.

If you have taken more than basic marketing classes, you will see the validity in the concepts but will be wishing for more substance on how to make your brands into the described brands.

Take-aways from the book:
Rituals -- "Rituals are behaviors or rites we engage in to mark certain activities as exalted. When ritual behavior becomes associated with a consumer experience, it is marked out as more resonant" (pg. 68)

Initiation -- "Initiation is a special subset of ritual. When consumers feel they have worked a little harder to acquire special knowledge of or access to a consumer experience, they feel set apart." (pg. 75)

EPO -- "EPO occurs when a consumer experience offers a notable degree of individualization. When you feel something has been designed just for you, or in a distinclty personal way, you can claim an experience as your own, it becomes more salient. EPO sings in high-end experiences, but we've also observed it in simple products such as Cracker Jack or the Kinder Egg." (pg. 83)

Over-delivery -- "Over-delivery is an aspect of EPO. It's what happens when brands make an experience feel special by going much further than they have to in terms of customer satisfaction. Over-delivery occurs when consumer experiences include features that anticipate needs and desires consumers haven't even thought they would want but end up loving. In the end, it can be understood as an attitude; the desire to be the best and keep improving, just for the sake of it." (pg. 89)

Myth -- "Myth might be the most critical engine of Converstational Capital because it embodies a brand story. Essentially, stories set brands apart because they are so important in the identity-forming and affirmation process. We are the sum of our stories and we look to myth to provide them. If your brand is powered by myth, it might be all you need." (pg. 97)

RSO -- "RSO stands for relevant sensory oddity. IT can be observed when a consumer experience surprises and delights a full range of sense. IT recognizes that human beings see, touch, hear, taste, and feel and communicates with them on that level. However, doing so in a manner tha is relevant, and resonates with the consumer experience in a meaningful way, is key." (pg. 105)

Icons -- "Icons are signs and symbols that are rich in evocative power and associations. Almost anything can take on the shorthand power of an icon: places, buildings, people, logos, labels, and more. The key is that these icons have to evoke a compelling brand story." (pg. 113)

Tribalism -- "In essense, Conversational Capital occurs when brand stories become part of the identity formation and affirmation process. Determining which tribe you belong to is a bedrock component of that process. Tribalism takes place when consumer experiences draw the like-minded together in a quest for mutual discovery." (pg. 121)

Endorsement -- "Endorsement is not a matter of well-known people speaking for your consumer experience. Rather, it is a matter of consumers advocating on your behalf in a free and unsolicited manner. This is the most powerful form of marketing there is. However, endorsement comes with a built-in caveat. If you are endorsed, you need to live up to consumer support. If they recommend you to someone who is disappointed, they look bad, too." (pg. 125)

Continuity -- "Conversational Capital demands continuity. Because it is about creating consistent brand stories, it works best when there is no disconnect between how a product is designed, marketed, and perceived. The best brands are the result of a united, cohesive strategy, and they walk the talk." (pg. 131)

Prose:
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The book was clearly written quickly with marginally editting. The book is a fast read where the text is concept light. So, it is good for getting some key marketing vocabulary with supporting real-world high-level examples.

It's a small book (under 200 pages with a glossary and index), and a quick read. As quickly as the book can be read, it's worth taking it in small chunks so you can think through the concepts and give time to considering how you might apply them to your own business.
The book is divided into three parts, defining conversational capital to begin with- what it is, what it isn't, how it works, why it's important. Businesses used as examples here include Cirque Du Soleil, Ikeo, and Schwartz's.
The second section expands on each of the eight engines of Coversational Capital:
Rituals, Initiation, Exclusive product offering (EPO), Over-delivery, Myths, Relevant Sensory Oddity (RSO), Icons, Tribalism, Endorsement and Continuity
The third, and shortest section, is implementation- here they discuss getting started, designing a solution, implementation, and a chapter called `and two more questions.' This is the weakest section of the book, but then, they can't be too specific, as only the people involved in a particular business are really qualified to think through whether or not there is some element of that business that could legitimately be developed into one of those eight engines listed above.
This is because none of those engines work if they are only facades, they have to be genuine. Businesses most successful at creating this impassioned level of customer connection succeed in one or more of those eight engines not just through marketing and hot air, but through honesty, sincerity, and integrity.

Conversational Capital got me thinking like few business/branding books do (and I read quite a few). I enjoyed the content of the book, but even more importantly, it revved up my own creative thought process. The ideas in Conversational Capital are simple but point you toward profound exploration. You could spend your whole life honing your skills in creating experiences that are intense, enduring, and meaningful--and wouldn't that be a wonderful career! I highly recommend reading Conversational Capital in an applied rather than theoretical way. Think about a specific project that you need to create, and read Conversational Capital with a highlighter, pen and notebook in hand. The ideas and questions you generate about your own work will be the payoff. I am using these principles as I launch a new edition of my own book, Mojo Mom: Nurturing Your Self While Raising a Family, so if you end up hearing about my work, Conversational Captial will have played a role in its success.

I found "Conversational Capital: How To Create Stuff People Love to Talk About" by Bertrand Cesvet with Tony Babinski and Eric Alper to be an interesting read. I really didn't know what to expect as I started, but the conversational style with many real life examples to illustrate the authors' points kept me interested and made me stop and think of other ideas as I read the text.

The book focuses on why certain brands outperform others. It is a study on market leaders and their products and services. Rather than just sell a product or service, the authors note that these leaders create experiences that provide fuel for conversations about the products and services being sold. The authors contend that creating such experiences is a process that can be influenced. This book will get you thinking about how you can do just that.

This is a book about creating word-of-mouth about your product or service. Word-of-mouth can be built, and can be an asset to increase the value of your brand. And as the authors point out, ignore it and it could become a liability. By studying different leading brands, the authors came up with a series of observations that help generate and spread positive word-of-mouth. They call these observations Conversational Capital. This is different from creating "buzz" about a project.

In the text, the authors describe and explain what they call the eight engines of Conversational Capital. These include Rituals, Exclusive Product Offering, Myths, Relevant Sensory Oddity, Icons, Tribalism, Endorsement, and Continuity. And while sometimes one not familiar with marketing jargon or the terms used by the authors might have to read something twice, I found the actual examples of products and services I was familiar with to be refreshing and relevant to grasping the concepts the authors were explaining.

I would agree with the authors that positive word-of-mouth results in timely, measurable results. I have seen the effect of positive word-of-mouth in my business. I also think the authors are correct when they say "people will talk." If you read this book and implement the suggestions and strategies discussed, you can make sure they are talking about you by creating experiences that are more meaningful and more likely to be talked about.

If you are selling a product or service, this book just might be the ticket to help you create something people will talk about. I would have liked to have seen a little more depth into the topic, and maybe a guide for implementing the Conversational Capital strategies, or engines, to one's business. But it does get one thinking about how to create better experiences, and this thinking should lead to implementing strategies, therefore I like the book not as a guide, but as a spark and tender to get the fire started.

Reviewed by Alain Burrese, author of Hard-Won Wisdom From the School of Hard Knocks.

Conversational Capital happens when your customers talk about you or your product. It's more than reputation or word-of-mouth. It's an aura of unique feelings that combined set you apart from the competition. The authors explain that it is more valuable than the money most companies pump into advertising. Conversational Capital makes loyal advocates of the people you do business with. Using examples such as Cirque du Soleil, IKEA, Apple, and Schwartz's deli, the authors lay out the points that create Conversational Capital. Much of the book explains the mechanics in straightforward prose that doesn't stray from the points.

When you fan through the short chapters (163 pages of text plus glossary and index), it looks like a light read. But it is abundant in information that doesn't skim over the details. It feels as if many of the points are rehearsed over several times as they're first introduced, and next shown in the context of the companies who use Conversational Capital, then finally explained in chapter detail. I was hoping for some kind of magic--perhaps in the descriptions of the aura of myth with which companies like Cirque develop a mystique, or how tribalism creates an almost-religious devotion among followers, but most of the points were explained like a classroom practicum without so much wand-waving. At the end of each chapter, prior to each summary and discussion questions, the authors include a comment box, where they put goofy remarks intended to show how they would individualize the book to create a unique experience for you, the reader. The asides come off self-indulgent rather than reader-insightful. I tested how the book would feel without the white boxes, and admittedly, the text would have seemed drier. I think I would rather have the magic spell woven throughout the narrative with colorful descriptions of the mystique each of the companies achieve, and the way customers respond to the stimuli.

I love universal concepts and contrarian thinking and this book has a combination of both. From a marketing standpoint, everyone who considers themselves a marketer should read this book.

The authors first define Conversational Capital by using real world experience and observation of what works for their clients and other companies. What works to create a memorable experience for the customers of those companies, that is.

Next the engines of Conversational Capital are reviewed in detail. Other reviewers have listed those engines so I won't repeat them here. These engines of Conversational Capital become a filter through which you can look at your own company or in my case, small business. By studying these "engines" you can more readily recognize elements of the customer's experience that are good or bad relative to generating positive word-of-mouth experience. In today's world of social networks this is very important since news can travel like wildfire.

The last part of the book deals with implementation and is the shortest section. On the surface it looks like the authors were ready to wrap up so they hurried through this part. Two reasons I don't take this view:

1. You can't really look at this book as a static work. This book is sort of like the modern software because it can be updated if you want it to be. There are invitations to join the community of people discussing Conversational Capital on the Sid Lee website.

2. This book is designed to make you THINK. Conversational Capital as explained in the book is not a fill-in-the-blank process. It does take someone or some team with some insight and creativity to put together a real systematic customer experience that will generate spontaneous positive talk.

Finally, just a thought about the product of the Conversational Capital efforts. I think of Conversational Capital as working on your businesses marketing system. The more you work on the system, and the better refined it becomes, the less work it is on the back end to maintain. For example if you spend time setting up a system that generates genuine Conversational Capital (word of mouth) then your efforts and money spent to maintain your marketing actually go down over time. This is in contrast to "buzz" which takes constant work.

As another reviewer noted, this is common sense, but that's becomming more uncommon by the day.

On the cons side, it's not a book that pulled me through the content. I didn't read it all in one sitting, but I do value the new insights that I've gained from reading it and will keep it close by for reference long into the future.

I was biased at first because there are so many books (many are terrible) about marketing.

This was a very important spin on things. I had recently read something about viral marketing (using pre-existing social networking), which can be accomplished by word of mouth marketing.

In a world where everything is so commoditized, any competitive advantage for marketing is key. You can't rely only on the internet and direct mail as your only sources for marketing.

As a small business owner, I will agree that the best marketing is when your customers do it for you. It's the most cost effective way. I believe this book offers some great insights that may become a game changer for your business.

Branding and marketing books are often long on ideas but short on execution. They see getting the big idea across as the primary goal of a book and leave issues of execution and results to either another book or another time. Conversation capital is a brand and marketing book.

Brand and marketing professionals may view this book differently, but I am reviewing this book as an executive that is trying to find new approaches to growth, our value proposition, etc. To that end, while Conversation Capital has a few interesting ideas and some counter-intuitive advice, it does not deliver the analysis and results that make it distinctive enough to cause me to change our approaches.

Conversation capital is organized around the following building blocks, the eight engines. With short and very readable chapters organized around each. They are:

Rituals
Initiation
Exclusive Product Offering
Myths
Relevant Sensory Oddity
Icons
Tribalism
Endorsement

The value of this book for me was in how it brought ideas of the conversation, engagement, and experience into a new format. The book uses a rapid succession of sound byte case examples taken from leading companies like Cirque du Soleil, IKEA, Apple, Starbucks, and others. These are all staples of marketing books and much of the analysis is not particularly insightful. Citing companies is good, but the mentions are examples, rather than references of the work that the authors have done and the results achieved from applying these principles.

The first sentence of the introduction states that the book is about why certain brands outperform others - the book does not answer this question in my opinion. If I am reading the book to assess how these ideas apply to me, what I would do, I need more than a 30-word statement of what others have done.

Conversational Capital focuses primarily on consumer - bricks and mortar companies and examples. It is surprisingly silent on the use of new media, social computing, web 2.0, communities, which are all things that are reshaping, and disintermediating brands and marketing departments. The authors will point to a few examples, but again there is not much analysis or a discussion of how these things change their model or make their model the more relevant.

So why three stars, rather than two or one? The book made me think again about the foundations of our products and services. The counterintuitive examples around initiation and sensory oddity were different. If you are looking for a deep book that gives details and implementation support you will need to start a different conversation.

I can only acknowledge the existence of a very few business books that give me a new lens from which to approach challenges, foster strategies & develop solutions. Sadly, all too few books of this genre accomplish these ideals, much less lay out a flexible process to realizing their ideas. This book does.

When it's time to design products and communications that matter, the triggers of Conversational Capital are a pragmatic tool. Sure, they aren't by any means scientific, but as you read the book and the cited examples, they just make sense. And yes, as some critics have stated, these very engines and ideas could fit under the heading of the 4Ps. But what in marketing or business couldn't fit under that heading?

If companies were already striving to generate Conversational Capital, we would be living in a very different world.

To put it simply, I decided to read this book because I'm a small business operator and it seemed like the contents of the text could help me in that regard. From that perspective, I'll give Conversational Capital a mixed grade. That's mostly because of a bit of a split that happens in the latter part of the book.

First, let me say I did find a lot of really interesting material. The discussions of the different aspects of Conversational Capital - which the authors put forth as something beyond just word-of-mouth - was enlightening. It's not a real intense study on these elements, and perhaps could have been done in a better presentation, but with the help of numerous case studies the reader is in the end presented with a lot to consider in terms of the product(s) and/or business they are pursuing or thinking about. From that perspective, I found the book very worthwhile.

Where I was brought up short, however, was in the latter part of the book where implementation was discussed. The first thing the authors talk about is the need for highly diverse planning/strategy groups to be involved in the process. The implication is that Conversational Capital can really only be optimally employed by large organizations. Obviously, as a small business person that left a bad taste in my mouth.

For that reason, and because I think the book could probably have been put together more usefully in terms of the overall presentation, I'm only going to give the book three stars. I do like the message, though.