Time 16:22

Chris Brogan and Julien Smith have this thing about trust. Their new book Trust Agents is a journey for companies and individuals to determine whether each is worthy of trusting each other. After all, all this access to information and opinions makes the world a very uncertain place, and the number one element of fear for companies and individuals is the unknown.

During a conversation tonight with a recently retired and senior Fortune 500 executive, I was reminded of the capitalist’s mantra, shareholder value. You can line up all the other metrics you want, you can argue to various degrees of accuracy that these other metrics impact shareholder value, but those educated in the ways of the corporation will come back to the shareholder number.

In this second and last part of my conversation with Chris Brogan we get into how corporations should adjust to maximize their benefits from social media. Brogan shares parts of his conversation with GM CEO Fritz Henderson, bottom line, the new GM wants to listen.

Brogan and I also get into the current state of social media. I think it has hit a plateau, it’s a time when we’ll see who trusts and who was just in a quick marketing fling. What’s your take? Have too many companies and consultants jumped into the social pool because they want low cost sales or a chance to make a buck telling people how to set up a Twitter account?

The Gartner Hype Cycle for Emerging Technologies shows there is an initial spike of usage, a decline and then a refocus on some of the more practical and thoughtful applications of the emerging platforms. I pose that social media in general is toward the decline on the first peak.

Maruggi’s Social Company Trust Test

1. 1) Have a company-wide process to handle learning and comments from social communities
2. 2) Develop multiple social media participants
3. 3) Response plan in place for social media originated hot topics – I won’t say crisis here because if the company is participating online, the likelihood of a socially inspired crisis is reduced.
4. 4) Develop metrics unique to social participation that roll up to shareholder value

Book Drawing

We will hold a drawing next week for Trust Agents – send an email to marketingedge AT providentpartners Dot net – include the word Trust in the subject line.

Time 22:33

Trust is not a new thing in marketing and communications. The most trusted name in news, is the most hackneyed phrase on TV. I believe trusted means you transfer your brain space for figuring stuff out to others, you transfer your emotional defense mechanisms to another entity. Like, I trust this pilot to land this plane, or OK Guy Fieri, I’ll trust this place that’s a real dive.

One of the most awaited studies in the PR world is the annual Edelman Public Relations Trust Barometer. Apparently, people like you are trusted by you more than institutions and we’ll see if that changes because more of you are sharing your trust online.

Trust in social media is now at the individual level. Those that have been involved in social media for years probably know of Chris Brogan. His blog is an excellent body of work in the strategy and tactics of being social. He is noted for his candor and the open discussion of issues, and that includes sponsored posts. For that length of service to the community he is trusted.

His journey over several years to build this trust is the foundation of his new book with Julien Smith Trust Agents. In it he describes for two audiences, companies and individuals, the impact of individual trust networks on companies, and how individuals can launch their own journey into building a trusting audience.

Trust like relationships can be fragile, and require lots and lots of work. The more personal, the relationship, the more work. Marketers have never had it as difficult as today, because we have narrowed our marketing down to individual relationships. Those individuals with a trusted following can navigate a company through these uncharted waters, but also have a little learning to do themselves. Brogan is a living example of this and his audiences and clients have benefited. We discuss how trusted individuals with a following also make a living?

I could have made this post be a “How to”, but there are plenty of good social media examples in Trust Agents of how the trust economy can work. What this interview with Chris Brogan gets into in part one is the meaning of trust and the relationship between trust and earning your keep.

We’ll post part two on Thursday, August 20.

Social Monitoring Tools

There is a segment in the interview where Brogan rattles off a bunch of social monitoring tools, these are most of them as promised. Radian 6, Techrgey, Scoutlabs, Nielsen, Visble Measures , Crimson Hexagon, and Spiral 16

If nothing else, if you are an anti-social company, you should build a monitor and react plan.

Trust Agents – The Book Drawing

Send me an email at marketingedge AT providentpartners dot net – put the word trust in the subject line, we’ll put your name in the book drawing contest. No, no you don’t get a drawing of the book, we’ll draw a person’s name and send them a copy of the book, how’s that?