Many for-profit businesses are focusing on smaller and smaller niches and being the GO-TO solution. In order to build a distinctive reputation you and your product must be perceived positively in the marketplace. Equally important you must deliver on your commitments through capabilities.
To assist business leaders today, we need social metrics that can measurement both sentiment or perception, but also kept-commitments. The solution is Relationship Capital (RC) process and measurement.
Relationship Capital (RC) is an accounting of the interactions between “entities”, including people, businesses and products. Interactions include Commitments (actions) and Perceptions (thoughts and feelings). Entities earn RC by keeping Commitments and obtaining positive Perceptions. They receive a Relationship Capital Point (RCP) for each fulfilled Commitment, and an RCP, or a fraction thereof, for each positive Perception obtained. RCPs are deposited in an RC Account under the strict control of its owner entity.
The objectives of RC are to provide a common vocabulary for relationship interactions and to account for the interactions as they occur. Accordingly, RC uses a “standard-in-the-cloud” platform to enable entities to engage in interactions and capture RCPs in near real time. The platform is provided by RNIA, an independent body.
As business continues to focus it’s value proposition by becoming more specialized or niche, the Relationship Capital (RC) earned through positive perceptions and kept-commitments will show your marketplace ecosystem your product and business truly is a BIG FISH!