Anyone remember Friendster? With nearly one million followers, Friendster marked the start of the world of social media. You add friends, you write testimonials, you post photos, right? Sounds familiar?
How about Myspace? Any memories? Rupert Murdoch’s News Corporation purchased Myspace back in 2005 for a whopping $580 million and at its zenith, it had 300 million users.
Everyone – as in every one – was “on” Myspace which had then a phenomenal 300 million registered users and a book value of $12 billion. One year later, Facebook was launched and by 2008, it crushed Myspace which later was sold off for a “paltry” $35 million.
Such is the reality in the world of social media which today completely dominates every part of our lives. It cannot be denied that a company’s presence on this ubiquitous platform can spell business success; that is, when packaged effectively. But in the cyber world of zeroes and ones — and with social media taking over humanity — how do you position your business and have customers realize its value? There is a deep and ever growing need for your business to actively participate on LinkedIn and Facebook. Sharing information about your company creates a unique brand or image that is specifically yours. By doing so, you build your social currency.
What is social currency?
Social currency is the extent to which people share about their “brand” or information about their brand, which makes it part of everyone’s social lives.
In short, social currency is about being relevant and influential in the lives of people using social media as a platform. Building up social currency is one of the most important investments any company can make to create added value for your business. The deeper your social currency, the wider the word of mouth exposure you can enjoy and greater loyalty to your organization. The stronger your social currency, the more powerful your status and identity.
All these can be created and managed online with a skilled team of content managers and digital marketers. Like Myspace in its heyday, LinkedIn has 500 million users and 250 million are active during any given month; yet only three million shares or create new content on a weekly basis.
That’s only 1% of the website’s monthly users, which translates to three million users getting nine billion impressions each week. This means if you are an active social media user on websites such as LinkedIn, you can significantly increase the positive image of your company and its unique brand to a vast audience. This is far beyond anything that a traditional “direct mail” campaign could ever hope to achieve.
Building up social currency
These encouraging social currency results, also comes with new contacts, new relationships, and new products and services that your company can use to improve its bottom line.
So, how do you build social currency?
Here are easily mastered techniques you can use every day to build up your brand and image:
- Start a blog
The best part about the digital world is that you have a platform to become an author. With a blog, you become an instant author and start self-publishing articles on a wide range of topics that interest you and can directly position your company as an industry leader.
- Be quoted
Your social currency will take a big jump when your contacts start quoting you on a wide range of interests. This can also include being quoted in your industry-specific news media – and in turn when the article appears, you can post that news article as a de facto “third-party” endorsement of your company.
- Post photos
Using your website and social media channels as platforms, you can showcase pre-approved photos of your company activities and practices that can generate interest among the public. Posting photos also make the company “human” and reachable. Nobody wants to deal with a snub and pushover.
- Introduce yourself
By “being out there”, you can introduce a new company product, new executive hires and so much more to a global audience. Be visible in events and introduce yourself to prospective partners and clients. Be genuinely interested when you strike up a conversation. People can smell an insincere individual.
- Go, Grow, Glow
Go ahead and step up your game by investing in digital marketing to see your company’s business grow into something you have never seen before. Focus on creating good experience and providing exceptional service and before long, you will be reading glowing recommendations from your clients and partners.
Try budgeting no less than three hours each business day in positioning your image, promoting your own brand and expanding your status throughout the international community. As you do so, the value of your social currency – and your company – will increase dramatically.
Finding a social currency builder
Interested to build your social currency but do not know where and how to start it? Have a fan base but not getting any business? Having a hard time getting customers?
At Invesso, we have customized packages that are created with businesses like yours in mind. Give us the opportunity to tell you more about our services so we can work together in building and strengthening your social currency.
You can give us a call at 6225 7335 or drop us an email at firstname.lastname@example.org! We look forward to the opportunity to work with you