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

Tara Hunt (Author)
4.6 out of 5 stars  See all reviews (27 customer reviews)

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Book Description

April 21, 2009
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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Editorial Reviews

From Publishers Weekly

Starred Review. Hunt, cofounder of community-marketing consulting firm Citizen Agency, presents the hows and whys of accruing "whuffie," her word for social capital in the Web 2.0 landscape. Introducing a wide range of post-blogosphere social networks like Facebook, LinkedIn and Flickr, Hunt clues in marketers to the possibilities with online success stories, influential voices and winning strategies. Numerous anecdotes (from the Obama campaign, online t-shirt boutique Threadless, Zappos.com CEO Tony Hsieh, etc.) illustrate the power of even the most tossed-off communiques; micro-blogging site Twitter, for instance, may restrict posts to 140 characters, but is uniquely powerful in its ability to reach a swarm of "followers," establish new relationships and provide multi-various feedback. Hunt packs in many specific strategies and concepts, which include seeking out and incorporating feedback, educating and empowering your connections, and treating your company's message as a conversation (a good net marketer's goal should be contained in the statement, "I want to create a culture of..."). Detailed, practical profiles of networks and related tools make this a valuable, illuminating title for anyone looking to the ever-expanding realm of online social life for business success.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Review

“Embrace the chaos! The Whuffie Factor weaves stories from Moleskine, 37Signals, Threadless, Willitblend, and Gary Vaynerchuk into a compelling story of the way business is now done. Tara doesn’t just talk about it, of course, she does it herself.”
—Seth Godin, author of Meatball Sundae
“Marketing–or doing business at all–in the age of whuffie and the world of social media means authenticity, listening, engaging, and trusting. That’s what Tara Hunt says, and it’s also exactly what she does. If you are in marketing now or starting a company that has customers, you need to read this book to understand exactly, and I mean precisely and with detailed examples, how the conversation between vendor and client, business and customer, has changed radically. Tara Hunt knows her stuff, and she knows how to put a great deal of knowledge into compelling ­stories that are a pleasure to read because her voice is not just the voice of extensive experience: Tara Hunt’s voice works well in this book because it’s who she is.”
—Howard Rheingold, author of The Virtual Community and Smart Mobs
“Social capital may be the most powerful currency of the twenty-first century, and this book is a guide to its care and feeding. Bursting with energy and enthusiasm, Tara Hunt shows us how to win friends and influence people in a Web 2.0 world.”
—Tom Kelley, cofounder of IDEO and author of The Ten Faces of Innovation
"The market power of social networking continues to grow exponentially. It may well overwhelm all other communication vehicles--and in short order. The Whuffie Factor is exceptionally readable, and both instructive and fun. You'd be foolish to pass it by, or fail to heed its advice."
—Tom Peters, author of In Search of Excellence

Product Details

  • Hardcover: 320 pages
  • Publisher: Crown Business (April 21, 2009)
  • Language: English
  • ISBN-10: 0307409503
  • ISBN-13: 978-0307409508
  • Product Dimensions: 5.8 x 1.2 x 8.5 inches
  • Shipping Weight: 1 pounds (View shipping rates and policies)
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (27 customer reviews)
  • Amazon Best Sellers Rank: #83,895 in Books (See Top 100 in Books)

More About the Author

Tara 'missrogue' Hunt has spent the past fifteen years online, either participating in or building communities. From the first wave of online marketing as it emerged in the late 90's while in Canada all the way to being a pioneer of new marketing in Silicon Valley in 2005, leading the wave into Web 2.0: the participatory web. She has been practicing her unconventional views on marketing for over 10 years now, for small to large companies and clients ranging from Oil & Gas to Consumer Products to Technology to Non-Profits.

Tara understands how the participatory web is changing all of our relationships: B2C, B2B and C2C. She doesn't believe in pushing messages or creating strong brands, only in the power of building relationships. She co-founded Citizen Agency in 2006 with the mission of teaching her clients how to work more effectively with the communities they serve and how to embrace and adjust to all of the changes in culture businesses are facing and has more recently moved to Montreal to write her next book.

Tara blogs at HorsePigCow, is on Twitter under her superhero name MissRogue, posts a great deal of self-portraits on Flickr, can be located like Carmen Sandiego on Dopplr, is trying to shake her addiction to Facebook, publishes her resume with microformats and is pretty much as open as one can be anywhere online.

 

Customer Reviews

27 Reviews
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4 star:
 (2)
3 star:
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2 star:
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Average Customer Review
4.6 out of 5 stars (27 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

36 of 41 people found the following review helpful:
2.0 out of 5 stars Not even a magazine article, stretched into a book, October 19, 2009
By 
Andrew Kent (Westborough, MA) - See all my reviews
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This review is from: The Whuffie Factor: Using the Power of Social Networks to Build Your Business (Hardcover)
I've become increasingly accustomed to ideas best captured as magazine articles being extended into books. It's sometimes a bit offensive to be sold something long when something short would have done.

"The Whuffie Factor" is something else entirely -- a sentence or a paragraph expanded into a book.

Here it is: Your social reputation is important, so cultivate it well.

Save your money. This book is insulting.
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22 of 25 people found the following review helpful:
4.0 out of 5 stars Why use social network sites and blogs to build (grow) a Web platform and possibly a customer following? Readthisbooktofindout!, April 22, 2009
This review is from: The Whuffie Factor: Using the Power of Social Networks to Build Your Business (Hardcover)
I liked this book. A reader might find it helpful to see why using social network sites and blogs to build (grow) a Web platform and possibly a customer following is the way to go in the Digital Age we live in today. I certainly will recommend this well written tome to my SCORE clients who either are stumbling with New Media or need to learn about it for the first time. The book has the following ten chapters:

1. How to be a social capitalist
2. The power of community marketing
3. Turn the bullhorn around & create continuous conversations with customers
4. Building whuffie by listening to & integrating feedback
5. Become part of the community you serve
6. Depositing into & withdrawing from your whuffie account
7. Be notable: 11 ways to create amazing customer experiences
8. Embrace chaos
9. Find your higher purpose
10. Whuffie "in real life"

You might not be familiar with the term "Whuffie" before reading this book. I know I wasn't. It supposedly stands for "the store of social capital that is the currency in the digital world." Marketing today in the New Media is about building relationships. It's about give and take. It's not about "in your face" or just throwing money into advertising campaigns. By reading this book you should better understand what online marketing has migrated to be about and why it is important to go with the flow.

This book is not going to tell you how to plan an online marketing campaign. The best book on that subject that I know of is Social Media Marketing: An Hour a Day. And to learn more about blogging I recommend: ProBlogger: Secrets for Blogging Your Way to a Six-Figure Income, and Secrets of Successful Blogging System. This last item is kind of pricey. But in my humble opinion it is really worth its weight in gold. I have posted book reviews on Amazon for all three of these products. 4 stars!
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5 of 6 people found the following review helpful:
3.0 out of 5 stars Some interesting points, but not a world-changing effect, February 24, 2010
This review is from: The Whuffie Factor: Using the Power of Social Networks to Build Your Business (Hardcover)
The concept of Whuffie is that of a sort of "cultural currency"; that is, how good a person's or organization's reputation is. Ms. Hunt is obviously a veteran of the Web, and she makes some good points - in essence, that one needs to be honest and moral in order to achieve high Whuffie rather than just try to use the Web as another outlet or venue for typical one-sided marketing hype.

No argument there; certainly if we could all check our egos at the door and put out honest appraisals of products (including our own, including admitting when we screw up) then it will engender more positive feelings on those that wander around the WWW to shop, etc.

I didn't rate the book higher only because I get the sense that Ms. Hunt thinks that the Web is the be-all-and-end-all of the world of commerce. Certainly, many people (myself included) log on multiple times a day, but nevertheless I don't think of my online presence as the essence of me. Too, there are still many people who either never get to the online world at all or else only sparingly, preferring "real reality" to "virtual reality" and so not so absorbed in what happens online.

So as a general instruction guide of how to do good online, this book is fine. As an attempt to prove that it is (or will be in the foreseeable future) critical to enjoy high Whuffie levels, it falls way short.
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