Currencies That Buy Credibility Book Review

 
What is the most important, yet increasingly the most scarce commodity companies and brands are fighting for?

Trust.

The 2008 Edelman Trust Barometer found that only 22% of young Americans (ages 25-34) say product and corporate advertising is a credible source of information.

That dilemma is what Tom Wanek tackles head-on with his new book, Currencies That Buy Credibility.

I consumed the whole book in one sitting.  It's an enjoyable read, the examples are specific and memorable, and the recommendations actionable.  Who doesn't love that in a marketing book?

The book focuses on six currencies that buy credibility:

1. Material Wealth
2. Time & Energy
3. Opportunity
4. Power & Control
5. Reputation & Prestige
6. Safety & Well-Being

Do you walk the walk when it comes to your product or service?

How much do you believe in your company or brand?  What is it that makes you truly better than your competition?  Can you state that core message boldly?  And are you willing to back up what you say?

That's what I loved about this book - it really focused on how to make that core message bold and believable.  A tough job with today's skeptical consumer.

Some of the examples in the book include:

• A heating and air conditioning company that promises a one hour service window,  and on time service - with an "always on time or you don't pay a dime" money back guarantee. (including parts and labor)
• An identity theft company whose CEO puts his own social security number in his ads and dares anyone to try to steal his identity.
•  A clothing company who told half their customers to take a hike (if those customers didn't like the company's new hard-core eco-friendly stand), but increased sales ever since.
• A famous campaign that tested horribly and the client hated, but which became one of the most successful and memorable campaigns of all time.

My favorite part of the book is the end when Tom Wanek talks about the importance of message alignment

1. What are your company's defining characteristics?
2. What signals do your decisions send?
3. Is there conflict between what you are saying and who you are being?  (my personal favorite)

So go get your copy of Currencies That Buy Credibility.  It's a quick read and I know you'll get concrete ideas you can apply right away to gain more trust from your customers.

Speaking of trust -  find out if women still trust social media.

 

Comments

[web development]

Thanks for the details.The book is really very useful.After going through the entire post even i feel that the last portion is the most important part.Message alignment is a concept that i wasn't familiar with before reading this post..planning to buy a copy soon.

[dean graziosi]

I like reading very much and I think you have recommended me a nice book.After reading this post about a book now I am very interested in it as you have written an enjoyable read.You have given a good review about a book.