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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.
Social currency describes the resources and abilities created and accessible through presence in offline or online networks and communities. Social currency is derived from social capital theory, developed by the late French sociologist Pierre Bourdieu, which is concerned with the benefits available from positive cooperation between groups and communities. Both theories are underlined by the belief that value can be derived from social participation.
Social currency is often used nowadays to refer to an individual’s online influence and access to influencers derived from their presence on social media sites such as LinkedIn, Twitter and Facebook. The term has become more popular because tracking tools, analytics and other technologies make it easier to track and compare social currency. Within internet marketing, social currency is used to measure the credibility and clout of a brand’s digital presence.
I took the definition above from a social network. In those days for any clarifications or answers we need to refer books or teachers or well experienced professionals from the same field. Within few minutes i got the definition and detailed explanation and this is the additional advantage of the social media and other networks.
A measure of a person’s power, or influence, within a defined social group. Factors contributing to one’s social currency are their visibility, activity and following on social networks like Twitter, LinkedIn, Facebook, Blogs.
American Dollar
Social currency is the credibility the individual has in the social media world. You can gauge your current social reach and value by looking up sites like www.klout.com or you google how often your name or key words related to your name come up in searches.
In a corporate environment, social currency is also about gamification and how to engage employees on initiatives within the organization. It also depends on your demographics and what employees want to do more.
Agree with Chepel...
I'm sorry but I'm not an expert on this field.
