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Social Currency

JOHN CHACKO
Sec A PGDM
13MG3127
© 2008 Critical Mass, Inc. All Rights Reserved
Social Currency as the degree to which customers share a brand or information
about a brand with others.
Social Currency is driven by Six Social Behaviors:
INFORMATION
CONVERSATION
ADVOCACY
AFFILIATION
IDENTITY
UTILITY

© 2008 Critical Mass, Inc. All Rights Reserved
INFORMATION : The degree to which people seek, receive & share information
about the brand
CONVERSATION : How often people converse about the brand
ADVOCACY : How much people promote & stand up for the brand
AFFILIATION : The level of connectedness people feel to a brand & surrounding
community
IDENTITY : The extent to which people use the brand to communicate who they
are
UTILITY : How much people interact with the brand & surrounding
community to extract practical value
© 2008 Critical Mass, Inc. All Rights Reserved
Forms of Social Currency :
Entertainment
Businesses can offer social currency in the form of branded
games, catchy songs or even a hard laugh. It’s

© 2008 Critical Mass, Inc. All Rights Reserved
Personal Value
Social Currency often comes by way and means of fame, status
or recognition. Brands can offer social currency of personal value
by offering content, rewards, benefits, and opportunities exclusive
to its VIPs.

© 2008 Critical Mass, Inc. All Rights Reserved
Utility
Useful social currency often comes in the form of branded utilities
such as mobile applications. Its functionality and sharing
capabilities make for a mutually beneficial exchange of
information between the brand and consumer and between the
consumer and their friends.

© 2008 Critical Mass, Inc. All Rights Reserved
Information
Information in the form of knowledge and thought leadership, can
be produced in various formats such as video interviews,
SlideShare presentations and blog posts. Brands can use this
form of social currency to educate or help their customers.

© 2008 Critical Mass, Inc. All Rights Reserved
Monetary Value
Monetary values of social currency are the digital equivalent of the
conventional sales promotion or PR activity. So it could be a free
taco from Taco Bell or a Foursquare deal or partnership badge.

© 2008 Critical Mass, Inc. All Rights Reserved
Where it fits
•Events: Brands often struggle with the closing the gap between intent and
action. Events present the opportunity to reward physical participation with
social currency- a mutually beneficial value to both the brand and consumer.
•Product Education: Brands often need to educate consumers about new,
underrated, complex or changed products. Product demonstrations and Live
Q&A video can be used as social currency to inform the misinformed or
uninformed.
•New audiences: Brands can find establishing credibility among new
audiences difficult to do. Social currency of any value can be used to introduce
new products, campaigns or promotions and establish brand equity with a
foreign demographic.
•Crisis Management: Social currency in the value of information can be used
to respond to crisis situations with valuable information and “news you can
use”.
© 2008 Critical Mass, Inc. All Rights Reserved
Thank you
© 2008 Critical Mass, Inc. All Rights Reserved

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Social Currency Organization Behaviour

  • 1. Social Currency JOHN CHACKO Sec A PGDM 13MG3127 © 2008 Critical Mass, Inc. All Rights Reserved
  • 2. Social Currency as the degree to which customers share a brand or information about a brand with others. Social Currency is driven by Six Social Behaviors: INFORMATION CONVERSATION ADVOCACY AFFILIATION IDENTITY UTILITY © 2008 Critical Mass, Inc. All Rights Reserved
  • 3. INFORMATION : The degree to which people seek, receive & share information about the brand CONVERSATION : How often people converse about the brand ADVOCACY : How much people promote & stand up for the brand AFFILIATION : The level of connectedness people feel to a brand & surrounding community IDENTITY : The extent to which people use the brand to communicate who they are UTILITY : How much people interact with the brand & surrounding community to extract practical value © 2008 Critical Mass, Inc. All Rights Reserved
  • 4. Forms of Social Currency : Entertainment Businesses can offer social currency in the form of branded games, catchy songs or even a hard laugh. It’s © 2008 Critical Mass, Inc. All Rights Reserved
  • 5. Personal Value Social Currency often comes by way and means of fame, status or recognition. Brands can offer social currency of personal value by offering content, rewards, benefits, and opportunities exclusive to its VIPs. © 2008 Critical Mass, Inc. All Rights Reserved
  • 6. Utility Useful social currency often comes in the form of branded utilities such as mobile applications. Its functionality and sharing capabilities make for a mutually beneficial exchange of information between the brand and consumer and between the consumer and their friends. © 2008 Critical Mass, Inc. All Rights Reserved
  • 7. Information Information in the form of knowledge and thought leadership, can be produced in various formats such as video interviews, SlideShare presentations and blog posts. Brands can use this form of social currency to educate or help their customers. © 2008 Critical Mass, Inc. All Rights Reserved
  • 8. Monetary Value Monetary values of social currency are the digital equivalent of the conventional sales promotion or PR activity. So it could be a free taco from Taco Bell or a Foursquare deal or partnership badge. © 2008 Critical Mass, Inc. All Rights Reserved
  • 9. Where it fits •Events: Brands often struggle with the closing the gap between intent and action. Events present the opportunity to reward physical participation with social currency- a mutually beneficial value to both the brand and consumer. •Product Education: Brands often need to educate consumers about new, underrated, complex or changed products. Product demonstrations and Live Q&A video can be used as social currency to inform the misinformed or uninformed. •New audiences: Brands can find establishing credibility among new audiences difficult to do. Social currency of any value can be used to introduce new products, campaigns or promotions and establish brand equity with a foreign demographic. •Crisis Management: Social currency in the value of information can be used to respond to crisis situations with valuable information and “news you can use”. © 2008 Critical Mass, Inc. All Rights Reserved
  • 10. Thank you © 2008 Critical Mass, Inc. All Rights Reserved