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May 20, 2009

The revenue generating power of Trust Based Marketing

For a while now I have been working on a new book about marketing. (Download chapter 1 here)

I was initially inspired to enter the world of consulting by Alan Weiss and his book about building a brand in the consulting industry. Recently I stumbled across Seth Godin and found a lot of common threads in their writing.

Further investigation of works by Bob Burg, Kevin Hogan, Daniel Pink and even Tom peters soon made it clear that there was a theme underlying each and every one of their books.

An unrevealed force that was guiding every action and attitude that they recommended, and once I started to analyze my own sales record it suddenly became very clear.

The hidden force behind every decision we make, and probably the most valuable marketing asset that exists today - is trust!

To see the results of a loss of trust just take a look at the recent financial crisis. When IndyMac was taken over by the regulators in the USA it was still a viable financial institution with over $17 billion in assets.

But the trust evaporated, there was a rush on deposits, and the game was over.

If you are able to harness trust, to build trust based assets, then you can build a lever large enough to change the world. Amway is built on trust. Multi level marketing organizations are dependent on people selling to their friends and family, and then extending the circle from there.

In 2007 Amway earned over $8.4 billion USD

In this book I am exploring the whole concept of trust, trying to define what a Trust Based Asset actually is and how to build one, and how trust can be used to generate a permanent revenue stream.

You can download chapter 1 here. It has had some pretty solid reviews but what I really want to know is what do the readers of this blog think about it?

I look forward to getting your feedback.