Social Currency Online

Posted in Human Resource Terms, Total Reads: 831
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Definition: Social Currency Online

Online social currency is the actual or potential value one obtains and generates as a result of his presence over the internet platform. According the famous study by the company Vivaldi Partners, social currency represents the amount of information people share about a brand as a result of the brand being associated with their daily life. And due to the ever increasing participation of people at the social networking platforms and the exponential nature of buzz spreading over these platforms, online social currency can be a crucial tool for a company to increase its brand awareness. This thus engenders a new efficient level of marketing technique where a brand can reach the masses, yet interacting on a personal level with its intended consumers.



As a very common example, a person posting about the marvelous picture quality of iPad 5 on Facebook generates immense social currency for the brand in very little time.


Online social currency, said to follow the adjoining cycle seeks to induce an introduction and consumption cycle among its consumers through the six steps shown. An affiliated consumer shares the brand information and thus increases the identity and utility of the brand. Users even go to the extent of advocating a brand many a time.

 

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