Social currency is value which comes from a person's presence and influence within social networks and communities.
The idea of social currency gained popularity in the marketing and branding industries with the rise of social media platforms such as Facebook. Social networks make it easier for people to exchange information and to discover the interests and likes of others, including what brands they support, which entertainers they like, and so on.
A person with a lot of connections and influence can start trends or give them momentum, and that has value to brands / businesses that want to sell more products or become more influential and widely known themselves. That value is social currency.
Social currency comes from six types of behavior:
- Sharing information
- Engaging in conversation
- Advocating for a cause
- Providing utility
- Affiliation with other people/brands
These are all ways in which a person can influence others to support a certain cause, ideology, team, brand, or business.
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