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Social Media

What Is The Value Of Social Media Currency?607

Teacher Rev private msg quote post Address this user
I'm always bugged by "free" offers that require my email address. It really isn't really free if you have to pay for it and your email address is probably your most valuable form of social media currency. Other forms are facebook "likes", Twitter "followers", and the like. How easily to you give these away? Do you even care? Or are you just a social media slut ready to give it to anyone?

Here's an interesting article, a long read but worth the time I think, with an interesting insight into the topic:

Inflating Social Media Currency <= Click
Post 1 • IP   flag post
Forum Owner Belew private msg quote post Address this user
Great question @Rev .

I have never put any stock in social media currency.

Social likes and such are indications of popularity.

Popularity is not a measure of quality. (It can be.) But it usually isn't.

I take stock in organic visits = I have been searched out and found.

I take stock in time on site = What they found they liked.

I take stock in page views / visit = What I wrote was good enough for people to look around to see what else I have to say.

How about you?
Post 2 • IP   flag post
Teacher Rev private msg quote post Address this user
@Belew

Exactly right!

I cringe every time I see someone asking for a like or a follow or a review. If you have to ask for it, it isn't worth getting. And if you measure your 'net worth against is you are just kidding yourself.
Post 3 • IP   flag post
Member mcc private msg quote post Address this user
What an interesting post! I readily give out my email address for freebies. I see nothing wrong with that, and I don't regard myself as a "social media slut." I want the bribes, and it's almost always from a blog site that I want to subscribe to because I want to continue reading the posts. And, I often end up buying something from them. So I see no problem with this.

Also, I spontaneously give "likes" not because anyone asks for them.
Post 4 • IP   flag post
Teacher Rev private msg quote post Address this user
@mcc

I'm not suggesting giving your email is a problem. I am suggesting you should realize that it has value -- currency -- and you should act accordingly. What you value it at, and what I do, may well be different things. That's okay too.

"spontaneously give likes" ...do you actually LIKE the page/post or do you just give likes because it's the social thing to do? Is it all about how has the biggest... uh... number, or is that number supposed to be meaningful?
Post 5 • IP   flag post
Forum Owner Belew private msg quote post Address this user
I remember when whoever had the friends was the coolest. But then the person with the most friends realized they didn't really know 99% of the people... and that was uncool.

So, Facebook invented groups so you could hang out with the people you wanted to.
Post 6 • IP   flag post
Member mcc private msg quote post Address this user
Of course I'm aware that my email address has value. That's why marketers give out "bribes" in return for your email address.

When you use labels like "social media slut" then you ARE implying that something is wrong. You need to be aware of your word choice.

I "like" something if I actually like it. Not because of social pressure. If I don't like something, I don't bother.
Post 7 • IP   flag post
Forum Owner Belew private msg quote post Address this user
Home Depot will pay $10 for a valid email address.

There's value in them there email addresses.
Post 8 • IP   flag post
Member mcc private msg quote post Address this user
Oh, where in Home Depot do I go to get the $10 for my email address!!!

I've also given my email address to a retailer in exchange for a discount on an item I'm purchasing. Not as good as cash (for me) but still worth it esp when I was buying a fairly expensive item and I was getting a 10% or 15% discount.
Post 9 • IP   flag post
Forum Owner Belew private msg quote post Address this user
We got a postcard from our local Home Depot.

Bring this card with the info filled in (email address) and get a $10 discount.

Or some such wording.
Post 10 • IP   flag post
Top Contributor Steve private msg quote post Address this user
Here is something you might find of interest (chapter two)...

Beginners Guide to Social Media
Post 11 • IP   flag post
Forum Owner Belew private msg quote post Address this user
@Steve No date on when it was created.
Post 12 • IP   flag post
Top Contributor Steve private msg quote post Address this user
@Belew it's pretty new I think, but I am only saying that because someone sent it to me yesterday and he keeps abreast of these things ...

But who really knows ...
Post 13 • IP   flag post
Forum Owner Belew private msg quote post Address this user
@Steve

I like to look at the dates things are published. I include them on my posts as well.

Things change.
Post 14 • IP   flag post
Forum Owner Belew private msg quote post Address this user
@Belew Found it! Some of the sources are 2011 and 2012.
Post 15 • IP   flag post
Member jycmba private msg quote post Address this user
@Belew - the tools and tech change, even language, but people are still people..

In Louis XIV's time social media might've been whispers & glances across the ballroom. In Al Capone's newspapers and telephones (we still have those right?)

Social media has just given more visibility to head nods and approvals. These are just as fleeting as they were in the days of Caesar when he walked into the Senate on a bad speech day..

Can you build a business on "Likes" and followers?

Like so many things in business the answer is "it depends.."

Not all Likes are, er, alike. And one True Fan is definitely worth at least ten in a bushel!

https://vimeo.com/63654060

1,000 True Fans
Post 16 • IP   flag post
Member tienny private msg quote post Address this user
Glad to know that I am in the right track to see slow increase in my followers and likes. Though organic, I feel happy with some likes and comments in my blog. Because I thought those people have so many followers and likes. I see some followers wants me to buy followers. But I refused. Glad I refused it.

Never expect that my client does not mind to pay others for his app to get reviews. I explain to him to be organic. The rest is his own decisions and doings. I am glad to make my stand clear.
Post 17 • IP   flag post
Member MichaelProcopio private msg quote post Address this user
@belew
Why did you create this forum? It seems to be working. And I consider it social media.
Post 18 • IP   flag post
Forum Owner Belew private msg quote post Address this user
@MichaelProcopio

Thanks for asking, Mike.

The question is simple but the answer is not as much.

I agree, a forum is social media.

The reasonS I created the forum are several.

1. I wanted to give something back. I wanted to be able to answer questions once, or not as often, by putting them here instead of on a blog.
2. I wanted to experiment with creating a forum/group/tribe around a topic. I wanted to learn from experience what it takes. How hard/easy it is. How much time and so on.
3. I wanted to test this kind of UGC (User Generated Content). Is it searchable? Does it convert?
4. I wanted more interaction ... more immediate feedback. Comments don't seem to work any more. I wanted to see if I could get them here.

I have some answers. And I will share in time. But the jury is still out on some of the questions, too.

Thanks for asking!
Post 19 • IP   flag post
Member MichaelProcopio private msg quote post Address this user
@Rev
My point in the question to Bill is that you had to give your email address here.

You seem to find it useful. At least you keep coming back.

Like everything social media can be used for good or bad.
Post 20 • IP   flag post
Teacher Rev private msg quote post Address this user
@MichaelProcopio

Don't misunderstand me. I don't object to giving out my email address. I am quite happy to provide an email address as part of a login procedure, when accepting some downloadable item offered, when entering a marketing funnel, or just because someone asks. It's not the giving of the email address I object to.

What I object to is someone telling me they are giving me something "FREE" when they are asking for my email address. My email address has value -- significant value -- so don't tell me it's a FREE download, access, or subscription.

And along with that I object to the use of words like "Instant Access" when I have to wait for an email, respond with my acceptance and, in many cases, wait for yet another email!

And I've heard all the excuses; "the technology won't let me do it any other way," "it doesn't matter what word I use because clients are used to this and know what I mean anyway."

Yeah, right! And the dog ate my homework too.

I think, in today's marketing paradigm, it needs to be about sincere trust. We, as marketers, should probably be prepared to go the extra mile to get it right. Maybe I'm wrong but that's my 2ยข.
Post 21 • IP   flag post
Member tienny private msg quote post Address this user
@Rev Agree. It's about sincere trust.
Post 22 • IP   flag post
Member jycmba private msg quote post Address this user
@Rev - good point.

There's a lot of things that people end up thinking "it's okay - everyone else is doing it" - especially in marketing.

My partner Sarah learned the hard way, and her web host shut down her site for using Instagram in its name.

I have to admit I've done my share of marketing gimmicks because I was either taught or convinced that's just how you do marketing.
Post 23 • IP   flag post
Forum Owner Belew private msg quote post Address this user
@jycmba @Rev

I often feel left out, behind the curve, or missing something.

Everybody seems to be doing something else while I am 'over here' doing what I know works.

Oh, well.

All my life I have been on a different path. Why change now?
Post 24 • IP   flag post
Member jycmba private msg quote post Address this user
Not sure why this thread revived itself in my thoughts but inspired me to write on LinkedIn about social currency.. (sneak peek before it goes live..)
Post 25 • IP   flag post
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