Trust Breakfast Part II Video: Q&A

Trust Summit Part 2 Q&AMore from the TrustSummit at the Harvard Club, New York, on October 23.  The open statements, Part I, were available on yesterday’s blogpost

Today’s Part II of the video is all Q&A: questions from the audience, and answers from David Maister, Julien Smith, Chris Brogan, and yours truly.

There is 75 minutes of video here, so to help you navigate, here is a rough map of the questions asked and the time marker at which they are asked, plus a sample quote:

   1:11    -How do you put a number on the value of engagement and trust?  (David: if measurement drove trust, we could lose weight by standing on the bathroom scale)

11:00    -What role does the fear of failure play in shutting down trust? (Charlie: in trust, risk mitigation doesn’t just cut risk–it increases trust)

16:30    -What was the best response you’ve seen to a screwup?  (Chris: Coke hit a home run; Branson hits lots of singles, so they can risk losing a few)

21:00    -Doesn’t price beat trust at some level? (Julien: intimacy is a great differentiator)

27:00    -Isn’t customer intimacy just one strategy, and you can only pick one?  (Charlie: these days you can’t pick only one; trust is actually the way you get to scale for low-cost strategies, not just intimacy.  Chris Brogan: Vanilla Ice said: stop, collaborate, and listen.  David: if people trust you, you don’t have to do all that icky marketing stuff).

35:00    -What kind of metrics work with non-profits? (David: if companies were serious about metrics, they’d post their customer satisfaction ratings) 

41:00    -How do I transfer powerful online trust to an MBA-managed traditional business?  (Chris: Let revenue do the talking.   Julien: I’d urge a healthy level of scepticism about the social media Kool Aid. It’s an experiment; try it.) 

53:00    -How does a leader teach matters of virtue, in a corporation?  (Charlie: the doctrine of competition is essentially anti-ethical. If all you do is compete with others, you have no one left to be ethical toward. "Buddhist capitalism" works better.)

Trust Summit Part II56:00    -How do you balance privacy versus transparency?  (Chris: there are times for both).

58:00    -Can this kind of cool event actually happen outside of Twitter?  (Julien: the horizon effect, everyone gets closer to everyone else–it’s inevitable).

62:00    -What’s the generational impact of all this?  (David: We’ve talked about clients, but trust between generations is a very big issue within organizations, and we’re doing pathetically)

65:00    -Is there a danger of giving priority to squeaky wheel twitterers?  (Chris: In some ways, that’s odd.  We don’t really want to wait in line like sheep; twitter empowers).

69:00    -How can I use social media to create authenticity?  (Discussion: it varies with target audiences–reaching 5 people through social media is tough)

72:30    -Why do companies pay 4x to get new customers what they’d save in retention?  (Charlie: Stupidity in this area does abound).

73:30    -Charlie describes how Chris and Julien role-modeled all this behavior in setting up this event.

Enjoy.

You can see the video here.