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

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.

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.

I was surprised both by Conversational Capital and the several visceral reviews of it. As someone who works on the client side in marketing, I found that the thinking in Conversational Capital was anything but obvious. Sure, marketing has its four Ps that seem obvious enough. But whoever told the story of how to get the most out of those Ps? I find myself talking about the products I buy incessantly. And I know that,s not unique to me. While innately I,ve sensed that we talk about what we buy to tell the world about ourselves, this book confirms that belief. But more importantly, it leaves you with a clear view of how to make your brand, your product, maybe even you, part of those conversations. The principles in this book might not sound scientific. They probably aren,t and that,s ok. Conversational Capital is a worthwhile read because it challenges your preconceptions about making product that people care about. I can only hope that more marketers were willing to be so challenged.