Scott Woodhead

Relationship capital: the new currency in customer services

Relationship capital is what’s generated when you put down your jargon filled customer service manual and talk to your customers like they are people. You talk the talk and walk the walk.

Companies are valued based on profit, assets and liabilities with some goodwill consideration given to other factors, like none contracted and informal business relationships. But in the newly social online world are these criteria still enough? I’m not so sure.

The importance of transparency for online businesses

The online space is defined by its openness and the astonishing ability for people, including your customers, to interact and communicate, potentially to the vast majority of the world's population.

Many of the interactions are marked by their frankness, honesty and transparency, look at Facebook and Twitter if you are in any doubt. The internet is not just driving connection, it is demanding new levels of openness.