Web 2.0 for Trusted Professionals
I wanted to start a blog in order to develop some ideas regarding the value of Web 2.0 technology to “Trusted Professionals” as a marketing tool.
Trusted Professionals are those whose clients and customers make their purchasing decisions based primarily on trustworthiness, credibility, honesty, and ability. Another way to put it…if you would ask a friend to refer someone vs. an ad in the newspaper or yellow pages, then that is a trusted professional. In most cases, this person is providing a service rather than a product, and the service is of significant value. Examples that I can think of include doctors, lawyers, real estate agents, financial professions (planners, accountants), psychiatric and therapists, plumbers, building contractors, clergy, etc.
Wikipedia states that Web 2.0 “refers to a perceived or proposed second generation of Internet-based services—such as social networking sites, wikis, communication tools, and folksonomies—that emphasize online collaboration and sharing among users.” More simply put, Web 2.0 connects people, whether in a social or business context. In the business context as I am exploring it, this means connecting service professionals to clients, service professionals to eachother, and clients to eachother. These connections comprise on-line communities and bonds are built between the members of the community.
My proposition is this…that Web 2.0 technology can and will change the way (for the better) that these service providers interact with their clients. Rather than the unidirectional outgoing broadcast messages that comprise most advertising and marketing today, technologies such as wikis, blogs, and podcasts will serve as starting points for conversations between the parties. And the conversations will forge the relationships. And since these are professions for which trust is the key, the relationships will be bring in the clients. The relationships will provide significant benefits to the provider in the form of customer loyalty (foremost) and referrals.
Harris Interactive did a poll to determine which were the most trusted professionals. Doctors were at the top (completely trusted by 50%) and stockbrokers were at the bottom (6%) just edging out real estate agents (7%) for the bottom spot. For those at the bottom I think exists the biggest opportunity. After all, they are chosen based on trustworthiness and are perceived as not trustworthy. What if one stockbroker could establish trust through his blogs and podcasts? Would he not have a huge competitive advantage?
One example of a doctor doing this can be found at Dr. Kevin Pho’s Blog Site.
Note that I do not address the question or challenge of “monetizing” this relationship, whether through 3rd party advertising or sponsorships. subscription fees, etc. Although some professionals may want to take advantage of these opportunities, I am occupied here solely with Web 2.0 as a marketing tool to go “deeper and wider”.
Please comment.
