Get to know social currency

Have been enchanted with Gen Z and their world. It would be wonderful to know who influences them the most.

A generation ago, the psychologists and counsellors were concerned about peer pressure among school students, where parents and teachers found it difficult to guide the children, especially in their teen years.

Most parents quietly prayed, shying away from a verbal clash. Now it is not just peer pressure but a whole ecosystem of digital networking. The trend is set there, and it is not even a physical world.

Is it truly illusionary?

They watch a social media influencer, sometimes their own age group, and are impressed by the lifestyle they have portrayed. And this is the case with YouTubers and gamers. But most of the time it is just that - a portrayal.

To understand that more about it, we need to dive into the world of social currency.

So what is social currency?

If you are an impactful social media influencer with an impressive number of followers, businesses would actually invite you to experience their products and services. So if it is a restaurant, for instance, then the person would be invited to experience and share their moments.

When it comes to the viewers, they may be left wondering when they will be able to experience it for themselves. But the business got what they wanted- they got the word out. In the past, advertising in the traditional media meant pumping out a lot of money in the traditional media.

Now this also means doing a review of a product or service, which in the past was done by the experts. But today it is presented by anyone who can communicate well and has the ability to reach out to a wider audience.

According to the experts, there are benefits of social currency, and one of them is insight into customers. This is an interesting point because, as humans, we love to comment and respond. We like to project our opinions, and that is what social media thrives on- the likes and shares as well as commenting. This helps the marketing people understand our emotional triggers.There are people who find it interesting to understand the reels and situations by just dreading the comment section.

Emotions are crucial- what you like and dislike matter. In a way, it is important data.

The other aspect, the experts point out, is that social currency is good for organic growth. There are ways to boost your posts, but organic growth has a better feel.

What was one of the most traditional forms of marketing?

It used to be the word of mouth. Even in the modern world, it works. Inform someone not to tell anyone, and rest assured that it will soon be making the rounds. Maybe humans like the element of gossiping. On social media platforms, we share what we like, but there are also individuals who like to share videos and posts that have a shock element.

Now if the audience liked what they saw, then it is a stepping stone towards loyalty. The viewer will look forward to experiencing it for themselves and sharing the images on the platforms, encouraging others to follow suit.

However, we have to remember that often the social media influencer could have been invited to experience the place, and they may not have had to spend money for it.

And that is another feature of social currency.

You, yourself, are the asset.

The fact is many individuals are doing well, and social currency is here to stay and will become part of lifestyle.

So maybe it is a good idea to have a conversation just on the realities of social currency and as always to be wary of what you post on one's timeline or on the comment section. Whether we like it or not , we are part of the story.