The more customers of one brand are interconnected the more they are willing to pay for the product and the more loyal they are. This is the simple logic behind Social Brand Value. The concept is defined as the extent to which people share a brand or information about a brand as part of their everyday social lives at work or at home. For the user the social brand value is the perceived value that results from the exchange and interactions among and between brand users within a community. For the brand it’s the percentage of its equity resulting from those interactions. Social currency is measured by examining customers’ brand affiliations, advocacy, sense of community, exchanging information and related indicators.
>> Fast Company reports about the Five Steps for Consumer Brands to Earn Social Currency.
>> Following http://www.context-digital.com/ you find how Vivaldi Partners and HYVE use powerful tools, technologies and methods to create, nurture and manage social currency.