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.
The Value of Social Currency
Understanding Your Social Currency Is the Key to Success
Documentaries, videos and podcasts
Principle #1 of crafting contagious content: Social Currency
February 1st, 2013
- Facebook is an online social networking service founded in 2004 by Mark Zuckerberg, Chris Hughes, Andrew McCollum, Dustin Moskovitz and Eduardo Saverin.
- Instagram is an online photo-sharing and social networking service founded by Kevin Systrom, Mike Krieger, Neo Nima Khoei, Zhoro Apostolov and Jenny K Tran.
- Twitter is a micro-blogging internet service founded in 2006 by Evan Williams, Biz Stone, Jack Dorsey and Noah Glass.
- Pinterest is a photo sharing, publishing website, social media web and mobile application company.
- TumblrTumblr is a microblogging platform and social networking website founded in 2007 by David Karp.