SOCIAL CURRENCY – The New Fad in Town


Instagram FoodThere is a lot of hype about ‘Social Currency’ on the grapevine these days. What is it?

Social currency is information shared which encourages further social encounters. And these days it is actually being used by companies in place of traditional methods of payment i.e. cash. 
It forms a beneficial tool for the New Age Marketer, as it has been reported that 81% of consumers [are] influenced by their friends’ social media posts’ so why not use it to your advantage. A wise man once said, …the holy grail of marketing is finding your brand advocate.” (Doorman co-founder & CEO Zander Adell, told Fast Company.) Which in most instances is, ‘the consumer’.

 

We’ve talked about social media as currency before (see our previous blog about Marc Jacob’s Tweet a Shop: Social Media: The new currency for pop ups?) and it’s something that’s taking off and is an invaluable cost effective resource for pop ups which are now becoming more mainstream than ever before.

 

For example, Meal n Ease will be popping up in Bayswater, London this Sunday (June 22nd) to lavish you with their Milanese cuisine. You will be able to feast on the finest cuts of Chicken & Veal, served with a scrumptious choice of sides to include:  Mozzarella Balls, Spaghetti Pomodoro, Rocket & Tomato and Fries. You also get a choice of unique sauces to drizzle on top.Yummy!

And the best part is, all you need to do to pay for your meal is upload a photo of your chosen dish onto Instagram. Simples! This will form an introduction to the Meal N Ease brand which will then become a more permanent feature in the heart of Marylebone. It’s promotional brilliance!

 

Last year, we at Popupspace sourced the shop for the Kellogg’s Special K, The Tweet Shop who took payments by Tweet. And this year we have sourced two pop ups for The Picture House in Manchester and Leeds which will be ready for you to enjoy next month, look out for them!

 

If you really want an in depth understanding of why this works, we read a great blog by Kissmetrics which talked about ‘Making People Insiders’. (This is definitely one to add to your reading list.) The blog details how we all like to be part of ‘the in crowd’ or the ones  ‘in the know’ and why this human characteristic can lend itself to a businesses advantage by using ‘Social Currency’ effectively without having to spend a huge budget on marketing.

 

We at Popupspace are always ready to help with fad ideas like this, and we love to chat. So if you have an idea, get tapping, chatting,or tweeting to us to help make your idea reality.

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