Businesses and brands on social media have access to a powerful social network. The quickest way to build a brand and grow a business is to use the social network as a form of currency. Sharing and publishing posts increases a company’s reach and expands its influence, so each post serves as a form of social currency.
As a firm’s social network grows and its followers see the company as authentic and reliable, they share posts and indirectly help the business increase its reach and grow its brand. Companies can improve their social currency on their own or use a branding agency instead.
What Is Social Currency?
Social currency is the value of a business’ social networking system. As a firm’s social currency increases, so does its brand, as followers see each post as a valuable resource. They believe what the business they are following says because they see the brand as loyal, reliable, and real. The company’s followers consider themselves a part of the firm’s community, and they like being loyal to the brand.
How to Grow Social Currency
A business’ followers appreciate getting to know its brand and the products or services it offers. They like to see behind-the-scenes activities and previews of what is coming. Sharing the challenges and little stories of success helps a company’s brand grow as its followers learn more about it.
Impacting Social Currency
The best way for a company to impact its brand with social currency is to know what works. Branding agencies use six attributes to improve a client’s reach and build their personal brand.
When a business stays true to its brand, the firm’s followers better understand it. Sharing posts from brands and organizations the business believes in shows followers how that firm lives life. A quick way to damage a brand is to share posts about products or services that decrease the brand’s credibility.
Along with advocating for quality products and services, branding agencies recommend creating an affiliate of like-minding businesses. Companies can grow their business by sharing industry-specific content that like-minded people will use and appreciate.
A firm’s community wants to chat. After posting content, offer a question or topic for conversation. Watch it unfold, but don’t forget to participate so followers can be confident that the brand is there. Set aside time to answer their questions and respond to comments.
Branding offers an identity, so a business’ followers want to see that they are like its brand. Show them interests so they can identify with the company and its products. People enjoy being a part of a community, and social currency grows when people see they belong to a group.
As an influencer, a business gets to share information it thinks its audience will enjoy. Share freebies, podcasts, coupons, events, and other information to keep followers up to date about the latest and greatest.
To grow social currency, share tips, tricks, and other helpful information. Since a brand’s followers are like it, they will appreciate the valuable information shared on the company’s social media sites.
Setting Personal Standards with Social Currency
You don’t need to have a business to have a personal brand and social currency. The majority of people in the United States have a social media profile with followers and content. Social media profiles can create a personal brand, as you share content and post information about your life.
If you want to improve your social currency and personal brand, carefully consider what you post and how your followers respond. You can improve your work and personal life with impactful content geared toward growing your brand.
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