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?

About Jay:
Jay Deragon’s professional career includes providing strategic management consulting services to Fortune 500 companies as well as local small businesses. He has consulted with numerous industries spanning over 25 years of professional experience globally. His current professional endeavors are all centric to the disruptive nature of the social web. He writes at Relationship Economy and provides social media strategic services to businesses large and small. Jay Deragon is an avid student of the emerging landscape of all things social and the subsequent impact on business dynamics. Since 2004 Mr. Deragon has been actively studying, sharing and learning how business as unusual is changing business methods, models and relationships. Life is a journey and the experiences along the way provides learning that furthers the experiences if we know how and what to learn. for more info go here http://www.relationship-economy.com/?page_id=2
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{ 11 comments… read them below or add one }

David Bullock April 30, 2009 at 10:56 am

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

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 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.

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

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.

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

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

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

AlexKaris May 1, 2009 at 5:38 pm

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

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.

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