This entry was posted on Sunday, October 25th, 2009 at 5:00 am and is filed under Advertising Factor, Attention Factors, Business Factors, Change Factors, Communications Factors, Disruptive Factors, Economic Factors, Education Factors, Individual Factors, Industry factors, Influence Factors, Information Factors, Knowledge Factors, Learning Factor, Market Factors, Media Factors, Relationship Capital, Relationship Economy, Rules of Engagement, Strategic Factors, social commerce. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
10 25th, 2009
- What Would Tree Huggers Say? HELP
- Is Social Media A Bet?
- Are You Generating Conversational Currency?
- Do You Waste People’s Time?
- An Economy Based On “Interest”?
- Social Media Transformation Cycles
- What Is The Holy Grail Of Advertising?
- Do We Practice What We Preach?
- Guilty Of Stinking Thinking?
- The Currency Of Social Media
- Communication Transforms Everything
- Building Our Own Economy
- Building the Social Economy
- Social Currency 101
- The Social Isolation Funnel
- Intellectual Property In Bloggerville
- What Is The Market’s Intention?
- The Debate: Free Vs. Paid Content
- 2010: Get A Life
- Servant Leadership: Ten Characteristics
- Bernie Madoff on Steroids?
- Betting Against The Dollar?
- Using Social Currency To Fight Terrorism
- Are They Capitalists Or Socialists?
All of us have been enabled to use social media as the means to build relationship capital that enhances the value of a our individual and our collective economy.
Each of our benefits can be significantly enhanced if the “system” of social media is continuously improved. Improvement will only come if we all learn and use appropriate and relevant knowledge to improve the value social media affords us.
For our individual and collective “system” to improve each of us must learn to apply methods that improve our conversational currency as we chart our course aimed at results we want to produce. Improvement of the colelctive and individual system requires knowledge.
The elements of knowledge required to improve the use of social media are:
1. Look at social media as a “system”. People must understand the system he or she is attempting to manage. Without this understanding the system can not be managed or improved. A system cannot understand itself or manage itself. Optimization of the parts does not optimize the whole. Collecting followers or connections does not improve your system, it only clutters it.
System optimization requires coordination and cooperation of the parts which requires cooperation. Improving a system requires ongoing feedback. Social media accelerates feedback and enables individuals to seek and find the knowledge they desire. Conversations are feedback loops to those that know how to communicate effectively and efficiently. Coordination and cooperation starts internally and then is designed to reach externally.
2. Understand variation and its impact on cost and relationships. Engaging in social media is not the proposition that creates value for people, the exchange of knowledge is the primary value. Connecting with others is a process of communicating and sharing new knowledge. Knowledge is the attractor, chatter isn’t.
Variation in communications causes waste and rework. How can we learn new knowledge if we have to waste time avoiding advertisement, marketing schemes and nonproductive conversations. Learning to focus and effectively communicate reduces variation and the related cost of not communicating appropriately. Wasted communications only produce further waste of time and productivity.
3. Gain an understanding of new knowledge. Knowledge depends on theory. Information is not knowledge. Experience teaches nothing without theory. Practice makes permanent, not perfect. Copying examples does not lead to knowledge. The landscape of social media promises to bring some interesting and new mediums for meeting and exceeding business and personal life objectives. However it requires ongoing learning from the experiecnes, the data and ultimately from the market of conversations.
4. Understanding how people will use social media requires an understanding of Psychology. We must understand human behavior to motivate, coordinate and enable people to optimize the system.
Human behavior is predictable and definable as it relates to use of social media. Enabling people to connect, produce value, share, create and enhance each others lives is a rewarding process. However humans migrate to a position of expecting what they want (must be’s) and if one doesn’t deliver then there is disappointment and frustration as part of our experience with social media.
Understanding peoples expectations and consistently meeting them is the demanding call for any of us. Once the minimum expectations are met human behavior naturally migrates to “more is better” and they expect more. Not delivering more creates yet another frustration and disappointment with the product,service or communications and it becomes stale. Then there are what as known as “Delighters”, those things that people don’t expect but when provided it becomes a delighter. However once delighted the very thing that once brought delight then becomes expected and the cycle repeats itself.
An economy is driven by the creation of new value which is fueled by communications. The four elements above have been used to transform entire countries, industries, institutions and individual lives. Why can’t we begin to put this knowledge to work and help build our own and collective new economy? Conversational currency is the means to building our own economy. Follow or create the wrong conversation and you hurt yours and our collective economy. Get it?
What say you?
Highlight any portion you want: 
![[del.icio.us]](http://images.del.icio.us/static/img/delicious.small.gif){kind=small}
Related posts:
- Building the Social Economy Such “Thought Infrastructure” is essential to what will evolve into...
- Do You Copy Or Create? To create a new bandwagon requires you to think by...
- How Do You Sell Social Media? If you haven't first figured out what your market wants...
- Does Where, When & What Matter? Transactions come from conversations that demonstrate and add value. Social...
- Is Social Media Shifting? Each of the ten points above reflect current shifts that...
Related posts brought to you by Yet Another Related Posts Plugin.
Stumble it!
October 25th, 2009 at 5:06 am
Twitter Comment
Building Our Own Economy /The Relationship Economy……/ – This entry is part 12 of 12 in the series … [link to post]
– Posted using Chat Catcher
October 25th, 2009 at 5:28 am
[...] This post was mentioned on Twitter by JDeragon and prblogs, Achievers Network. Achievers Network said: Building Our Own Economy: Why can't we begin to put this knowledge to work and help build our own and collectiv.. http://bit.ly/13q1IH [...]
October 25th, 2009 at 5:31 am
Twitter Comment
Building Our Own Economy: Why can’t we begin to put this knowledge to work and help build our own and collectiv.. [link to post]
– Posted using Chat Catcher
October 25th, 2009 at 5:37 am
Twitter Comment
Building Our Own Economy [link to post]
– Posted using Chat Catcher
October 25th, 2009 at 7:03 am
Twitter Comment
Building Our Own Economy [link to post] #socialmedia #news
– Posted using Chat Catcher
October 25th, 2009 at 7:09 am
Twitter Comment
Building Our Own Economy [link to post] #news #socialmedia
– Posted using Chat Catcher
October 25th, 2009 at 7:42 am
Twitter Comment
Building The Social Media Economy | The Relationship Economy…… [link to post]
– Posted using Chat Catcher
October 25th, 2009 at 9:59 am
Twitter Comment
Building The Social Media Economy | The Relationship Economy…… [link to post] (via @S0CIALCAPITAL)
– Posted using Chat Catcher
October 25th, 2009 at 12:30 pm
Good article. Agree with author that a systems approach provides a far more comprehensive approach to understanding the social network/media
October 25th, 2009 at 12:50 pm
Twitter Comment
Building The Social Media Economy | The Relationship Economy…… [link to post]
– Posted using Chat Catcher
October 25th, 2009 at 2:50 pm
Twitter Comment
RT @JDeragon Building The Social Media Economy | The Relationship Economy…… [link to post]
– Posted using Chat Catcher
October 25th, 2009 at 2:55 pm
Twitter Comment
RT @simonmainwaring: RT @JDeragon Building The Social Media Economy | The Relationship Economy…… [link to post]
– Posted using Chat Catcher
October 25th, 2009 at 3:33 pm
Twitter Comment
RT @eaglesflite: RT @JDeragon Building The Social Media Economy | The Relationship Economy…… [link to post]
– Posted using Chat Catcher
October 25th, 2009 at 4:03 pm
[...] to impact and support physique our possess & agglomerated newborn economy? Continued here: Building The Social Media Economy | The Relationship Economy…… Posted in Uncategorized | Tags: change-perceptions, childcare-and, collective-new, [...]
October 26th, 2009 at 4:45 am
Twitter Comment
Reading “Building Our Own Economy” [through social media] [link to post]
– Posted using Chat Catcher
October 26th, 2009 at 6:06 am
[...] Building The Social Media Economy | The Relationship Economy…… [...]
October 26th, 2009 at 6:35 am
Twitter Comment
Building the social media economy [link to post]
– Posted using Chat Catcher
October 26th, 2009 at 8:36 am
Twitter Comment
Understanding the #social media #economy and conversational currency #SM [link to post]
– Posted using Chat Catcher
October 26th, 2009 at 8:59 am
[...] Building The Social Media Economy | The Relationship Economy…… [...]
October 26th, 2009 at 12:50 pm
[...] Building The Social Media Economy | The Relationship Economy…… [...]
October 26th, 2009 at 1:06 pm
Social comments and analytics for this post…
This post was mentioned on Twitter by glennsnews: Building The Social Media Economy | The Relationship Economy…… http://bit.ly/3D89Wk...