What Is Social Currency?

by Jay Deragon on 04/30/2009

Business wonder how they can improve revenue using social media.  What most business leaders fail to recognize is that their entire business relies on relationships in markets they aim to serve.  The “currency” of all this social stuff is centric to human relations, conversational dyanmics and the exchange of good will between two or more parties.  Goodwill is a currency and goodwill comes from first being centric to human relations, social.

What this short video and let us know what you think.  What say you?

{ 11 comments }

Robert W. Rowe May 3, 2009 at 4:51 pm

…viewing RT @davidbullock What Is Social Currency? http://budurl.com/cm6r 6mins – New thinking for you.

AlexKaris May 1, 2009 at 5:38 pm

RT @davidbullock What Is Social Currency? http://budurl.com/cm6r 6mins – New thinking for you.

John Yeng May 1, 2009 at 8:03 am

RT @davidbullock What Is Social Currency? http://budurl.com/cm6r 6mins – New thinking for you. Pls RT

John Yeng May 1, 2009 at 8:02 am

RT davidbullock What Is Social Currency? http://budurl.com/cm6r 6mins – New thinking for you. Pls RT

Atmanand Jaikarran April 30, 2009 at 11:03 pm

RT @davidbullock: What Is Social Currency? http://budurl.com/cm6r 6mins – New thinking for you. Pls RT

Gregory Gray April 30, 2009 at 7:19 pm

RT @davidbullock: What Is Social Currency? http://budurl.com/cm6r 6mins – New thinking for you. Pls RT Excellent video. A must watch.

Rick Howard April 30, 2009 at 12:03 pm

RT @andyfranco: RT @davidbullock: What Is Social Currency? http://budurl.com/cm6r 6mins – New thinking for you. Pls RT

dan April 30, 2009 at 12:54 pm

I say THANKS FOR THE SHOUT OUT!!!. Jay and David, you are sniffing at the holy grail of social media – that takes courage.

My only recommendation is to make a distinction between information, knowledge, and innovation. All three are profoundly related and it is in this relationship that you will find your “time” component, and therefore, your productivity component (Drucker) and therefore your monetary component (money, debt, and innovation are all proxies for productivity).

Here goes:

Information = facts and data;
knowledge is proportional to the rate of change of facts and data WITH RESPECT TO TIME.
Innovation is proportional to the rate of change of knowledge WITH RESPECT TO TIME.

Google is an information company, Social media is a knowledge manifestation, The next economic paradigm; an innovation economy will happen after social media integrates.

That is also why it takes courage to do what you are doing – SMCN is integrating social media.

Bravo.

andy franco April 30, 2009 at 11:36 am

RT @davidbullock: What Is Social Currency? http://budurl.com/cm6r 6mins – New thinking for you. Pls RT

Dan Cotton April 30, 2009 at 11:03 am

RT @davidbullock: What Is Social Currency? http://budurl.com/cm6r 6mins – New thinking for you. Pls RT

David Bullock April 30, 2009 at 10:56 am

What Is Social Currency? http://budurl.com/cm6r 6mins – New thinking for you. Pls RT

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