Book Review: Currencies That Buy Credibility (final)

In Part two of the book Tom gives some great examples of
companies putting the “Currencies” into practice. Some examples include

         
One Hour Heating and Air Conditioning became the
nation’s first heating and cooling service company to offer on-time service.
The created believability by fulfilling the promise of “Always on time or you
don’t pay a dime”. They risked material wealth to build credibility.

         
When talking about the currency of “Time and
Energy” Tom highlights the trusted and go-to online retailer REI. REI takes their
content to an amazing level by offering expert advice to outdoor experts or
wannabees. What’s your expertise? How can you highlight it?

         
The currency of “Opportunity” highlights toy
store “Geppetto’s Workshop”. A unique toy story that differentiates itself and
prides itself in NOT carrying any toy that is made of plastic or requires
batteries.  They go all out so that they
don’t become ordinary. The absence of “popular and trendy” toys is what attracts
the crowds.

         
Chapter Seven gives great insight into how
transparency builds extreme credibility. Shoeline.com and Google are both cases
in point.

         
The currency of “Reputation and Prestige”
relates the story of how Patagonia put a stake in the ground that either
attracts or repels their customer. By staying true to their core values they
have continued to build out their reputation and establish themselves as a
brand of prestige.

         
“Safety and Well-being” are the final currency Tom
tackles with a great story about identity protection specialists Lifelock.

 

In
the final section of the book Tom wraps it up by challenging us to ask three
important questions:

 

1.       What
are your company’s defining characteristics?

2.       What
signals do you decisions send?

3.       Is
there conflict between what you are saying and who you are being?

 

Currencies
that buy Credibility is a book that will be a perennial read for you.

Speak Your Mind

*