Social Currency 2010

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Brands are socially constructed objective realities. Brands get built through experiences, through people accepting them and making them part of the fabric of their lives. This process of building strong brands is very personal and also very social. Today, one of the most important strengths of a brand is its social currency, the extent to which people share the brand or information about the brand with others as part of their everyday social lives.

However, nothing has prepared us to deal with today’s revolution in building strong brands. The rapid evolution of the Internet and, in particular, the rise of the social web’s forms of media, technologies, and networks not only changes our lives, it irrevocably changes how brands are built. For the first time, we deconstruct social currency. We find that social currency is not just about conversation, buzz, or community. It is all this and much more. We find that it does not impact every brand equally. We find that certain levers of social currency are more important than others in driving value for companies.