
11 Rules for Creating Value in the Social Era

When customers are central to all we do, they are not easily controlled and they are not predictable. But remember, it is making mistakes—and the ensuing forgiveness—that gives relationships their resilience. This connection might take longer to forge than a transactional exchange, but its outcomes will last longer. Any vulnerability we feel along
... See moreNilofer Merchant • 11 Rules for Creating Value in the Social Era
Instead of being told what to do, you already know. When people know the purpose of an organization, they don’t need to ask questions of swamped managers before taking the next step; they can just do it.
Nilofer Merchant • 11 Rules for Creating Value in the Social Era
When community invests in an idea, it also co-owns its success. Instead of trying to achieve scale by all by yourself, we have a new way to have scale: scale can be in, with, and through community.
Nilofer Merchant • 11 Rules for Creating Value in the Social Era
To be sure, openness means letting go. But it also means making money and having power.
Nilofer Merchant • 11 Rules for Creating Value in the Social Era
But the concept shouldn’t just be viewed as an organizing principle for marketing; it can be applied to all the ways that value is delivered.
Nilofer Merchant • 11 Rules for Creating Value in the Social Era
Too many still see social as the purview of two functions: marketing and service. It’s either “Like us on Facebook!” or “We’re so sorry you’re having a problem.” While a few have figured out that they can use social to listen to the market—sort of like putting a stethoscope to the market heartbeat—there is more to this social thing.
Nilofer Merchant • 11 Rules for Creating Value in the Social Era
attracting and seducing consumers with a relevant, helpful, and unique point of view works better than shoving more messages into the already loud marketplace.
Nilofer Merchant • 11 Rules for Creating Value in the Social Era
Here’s the simplest way to define the Social Era: the industrial era primarily honored the institution as a construct of creating value. And the information age (inclusive of Web 1.0 and Web 2.0 phases) primarily honored the value that data could provide to institutional value creation.
Nilofer Merchant • 11 Rules for Creating Value in the Social Era
Purpose is a better motivator than money. Money, while necessary, motivates neither the best people nor the best in people.