Whuffie was a definite buzz word among many at SXSW Interactive this year, and I went to Tara Hunt’s session at the conference to learn all about it. What’s whuffie? It’s social capital.
Whuffie is built by one’s reputation, connections, influence and access to resources across the Web. As the online world continues to move in the direction where social networks rule, social capital will be increasingly important for brands. And when whuffie grows, it leads to better word of mouth, more repeat sales and increased customer loyalty.
How can your brand make whuffie and reap the benefits?
- Turn the bullhorn inwards. One-way marketing messages are impersonal and outdated. Start listening to what your customers are saying about you (search Twitter, Facebook, blogs), and accept their feedback (good or bad).
- Become part of the community you serve. What problem does your brand solve? Find that community and join it. In this open online world, authenticity and transparency are key.
- Create amazing customer experiences. Inject fun into the experience and make happiness your business model.
- Embrace the chaos. Define your own measure of success and have patience.
- Find your higher purpose. Think customer-centrically and give back to your community. Help them go further by sharing info with them.
How do you measure whuffie?
Hunt suggests measuring the success of your site and your brand with new metrics, outside of typical analytics. Instead of counting the number of minutes a visitor spends on your site, measure the number of referrals sent to your website, the number of influential social network members who add you as a friend, and the number of customers writing about using your products.
You can check out Hunt’s SXSW presentation here. And learn more about her book at www.thewhuffiefactor.com.
