Book Review: Currencies That Buy Credibility (part two)

Tom's definition of each currency frame the rest of the book and bring a clarity to how we can put into place programs, processes and policies that increase our credibility. Today's focus is on the first – material wealth.

Material Wealth – Tom uses the example of Nordstrom's and their legendary guarantee that allow customer's to return the product at any time for a full refund. The he asks the following question, "How might your business take on the buyer's risk to strengthen credibility?"

What other ways, beyond a liberal return policy, you have seen that build credibility?

Is there a line, when it comes to this currency, that a company can not afford to cross?

Book Review: Currencies That Buy Credibility (part one)

A couple of days ago I finished reading Currencies That Buy Credibility by Tom Wanek. In addition to being an international speaker Tom is an adjunct faculty member of the Wizard Academy founded by another great author and marketing "wizard" Roy H. Williams.

In a day and time where trust is at an all-time low and marketing messages are "unbelievable" Tom provides us with a map for building credibility and regaining trust with our audience. He says, "The believability of your company's marketing message is directly related to your willingness to risk or spend one of six resources. And the more you risk or spend, the more believable your message becomes.

The six currencies that Tom outlines are:

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

Over the next several days I'll be posting my takeaways and learning from this great book.