Conversations are markets.
Always have been. Conversation is used to draw out the model on which business trades, to identify what is missing, and to extract what is there, what I exchange instead of the asset to build relationships.
Few realize it and trade poorly.
While we think about the implications of how businesses can continue to have people understand that, and not just trying to sell in social, I wanted to highlight five posts that show how money is the least differentiated, and least tradable of all assets.
In The Peter Principle for Business, we tested the idea that that every great brand gets stretched to its level of incompetence. This happens when the core competence of an organization, its ability to deliver on its promises with operation experience and expertise is in question.
Focusing the promise is about conversation as market.
The idea in Sample Your Product as Often as Possible is to become a mystery shopper of your online business. File a claim with the insurance company where you work. Get an iPhone with each plan and compare notes. The more successful you become, the more you need to verify you are scaling well -- you and your people deliver what you promised.
Whether you believe they are or not, Are Dads a New Market Opportunity? Consider that a poll conducted by Yahoo! last October, and reported by eMarketer, found that more fathers are in product decision-making situations more often for a number of categories.
While there are plenty of ads that cater to men only -- and we just saw several air during the Super Bowl -- few speak to dads. Conversation as market.
Why Customer Service in Social is not Fair raised quite a few eyebrows. The root cause of special vs. fair treatment online comes from deep organizational disconnects. Unless your business plans to use what it learns online as an opportunity to fix internal processes, social outposts will continue to be expensive lightning rods.
Make every customer special. Conversations are markets.
Before you start your next campaign, ask yourself Do Customers Really Want to Co-Create Your Product? Or do they want to co-create meaning though a product you can help develop with them?
[image by woodleywonderworks]