I am getting more and more interested in the idea of 'social currency'. I have written on this before on how I believe Jamie Oliver is the king of it (also found out he is the richest of all the celeb chefs at £40mill.. mainly due to owning the TV production company that makes his shows..) But I have just seen a fun explanation of social currency which I have just put in a presentation. Its over at the website social customer manifesto. (cool site)
"Social currency is like a good joke. When a bunch of friends sit around and tell jokes, what are they really doing? Entertaining one another? Sure, for a start. But they are also using content -- mostly unoriginal content that they've heard elsewhere -- in order to lubricate a social occasion. And what are most of us doing when we listen to a joke? Trying to memorize it so that we can bring it somewhere else. The joke itself is social currency. "Invite Harry. He tells good jokes. He's the life of the party."
Russ Klien, CMO Burger King
Its really about how an individual develops their own status and 'self projection'. Some people show off by owning things. Some people by knowledge. Or my other love... which is the 'first to know'