Social Currency in Social Media

by Julie on June 4, 2009

Wondering how this social media thing works anyway? Scott Stratten lays it out for us all in: How to use your social currency

Scott Stratten is the President of Un-Marketing and spends way too much time on Twitter.

{ 13 comments… read them below or add one }

1 featureBlend June 4, 2009 at 9:06 am

I enjoyed your video, especially how you “coined” the term social currency. You know its worked for me (giving, helping, being an integral part of the community) and other people can feel that vibe.

To me, its about going in and *maintaining the right type of attitude through thick and thin.

Thanks for the video and succinct description of what Social Media is really about. You could not have said it any better!!

2 Jack Bremer June 4, 2009 at 11:12 am

Thanks for recording this Scott – loved this explanation when I heard it form you on a UStream show, and here it is for all to benefit! Such great allegories…

3 Linda June 4, 2009 at 11:17 am

Great message, Scott. I was at a networking event last night and was talking to an attorney about my presence on social networking sites. He asked how often I promoted my services – I said “never” and he gave me a look of incredulity. I told him that it was all about relationship building – just like what we were doing at the in-person networking event that we were attending. The same rules apply to social networking on the web.

4 Linda June 4, 2009 at 11:18 am

Great video!

5 Kathy Nielsen June 4, 2009 at 11:42 am

Excellent point, Scott, regarding the need to “help” others as oppose to simply posting your articles and promoting your business. Relationship building, as you point out, will go a long way towards getting more clients. Thanks for sharing this video.


6 Sally_K June 4, 2009 at 12:31 pm

Great analogy Scott! Thank you.

7 Jennifer June 4, 2009 at 4:09 pm

Anyone else having problems with the video? Took >3 minutes to load; still can’t get it to play. (Will try searching on YouTube…)

8 Jennifer June 4, 2009 at 4:46 pm

Great video — love Scott’s casual but informative vibe. (Re-booted Firefox and worked just fine. Thanks for quick response, rock-star Julie!) Favorite quote? “You gotta invest.” (Time, knowledge and advice for starters.)

Business truly IS all about building relationships. And two months into my Twitter experience, I’ve gotten three job offers and two new clients — ALL with zero self-promotion. So put that in your pipe and smoke it, you “how to get 10K followers in one day” spammers. 🙂

9 Sandra Foyt June 4, 2009 at 5:09 pm

This is exactly what my Girl Scouts were learning about earlier this week. We met with a PR professional who taught the girls about careers in public relations and marketing. She explained that PR is mostly about building and exchanging “people collateral,” much as you’re describing “social currency.”

This is a somewhat cynical view of something I hope we all do for altruistic reasons, helping others just because it’s the right thing to do, and a good way to live. If, or when we derive a benefit, that’s just gravy.

10 Sandra Foyt June 4, 2009 at 6:29 pm

It’s kind of interesting to think that today’s social networking is an outgrowth from altruism’s bloody roots…

11 Cyndee Woolley June 4, 2009 at 9:32 pm

Nice analogy Scott! Getting tired of being hit up for ‘stuff’ from people who’ve never taken the time to engage me.

12 Julie June 4, 2009 at 9:44 pm

Jennifer – that qualifies as one of my all time favorite comments – and, yes, in large part b/c you called me a ‘rockstar’…

13 Pamela Kramer June 20, 2009 at 7:22 pm

This is so true! Great post.

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