social currency

Do 1.17 Trillion Likes Devalue It As a Social Currency?

The other week I was questioned about why it matters if someone likes your brand in Facebook.

At the time I replied that there is value in a like.  By liking you in some small way define yourself with the brand in question, and that’s powerful.

In retrospect, I think my reasoning was correct but my overall answer was not.

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Serious Play: The Business of Social Currency

Originally featured on Harvard Business Review

I've just spent my first week on the social network/game called Empire Avenue, a new kind of site. If Twitter encourages us to tell the world what we are doing, and Foursquare tempts us to tell the world where we are doing it, then Empire Avenue asks us to determine what we think our friends and brands we like are worth.

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