8 notes &
companies who can build authentic, honest, open, collaborative relationships with consumers are significantly more profitable (and sustainably profitable) than companies who treat consumers deceptively, antagonistically, and manipulatively.
Why (Real) Relationships Matter - Umair Haque (via fred-wilson)
Some of the comments (one quoted below) and the link to the original Economist article are as interesting as the qutoe selected out here. I think the dichotomy laid out is a bit extreme. A company can certainly choose not to be ‘open’ or chose not to develop ‘collaborative relationships’ (think: Apple?) but still not treat consumers ‘deceptively’ or ‘manipulatively.’ We’ve treid to be extremely transparent with TotSpot, and I think on balance, it’s benefited us. Though sometimes competitive pressures require selective secracy as well… not sure there’s a definite answer here.
Perhaps the key word is ‘sustainably’ - I could buy the idea that over a sufficiently long time horizon, manipulative yet profitable tactics fail because they are exposed by markets. Curious to hear other thoughts out there…
Here’s one quote from one of the comments:
