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5 Ideas to build social currency

1. Use Micro-Influencers:

Partnering with micro-influencers who have smaller but more engaged audiences can be a great way to build social currency. Instead of working with a celebrity influencer, try collaborating with a few micro-influencers who have a loyal following in your target demographic.

For instance, if you're a skincare brand targeting young women. You might partner with a few micro-influencers who have a dedicated following in the beauty and skincare niche. This approach can help you build a more authentic and engaged audience.

2. Gamify Your Marketing:

Gamification can be a great way to increase engagement and build social currency. It helps increase awareness about your brand.

For example, a fitness brand might create a "workout challenge" that encourages followers to share photos of their workout routines and tag the brand in their posts for a reward. This can help to create a sense of community around your brand and increase engagement.

3. Showcase Your Company Culture:

Sharing behind-the-scenes content that showcases your company culture can be a great way to build social currency. Use anyone and everyone from the chai delivery person to the intern (hopefully they are not the same person). By sharing photos and videos that highlight your company's values, mission, and culture, you can help to humanize your brand. It also makes you more accessible. Get creative.

4. Make Mistakes, Publicly.

I wish you don’t have to do this (at least on purpose) but when something publicly goes wrong. Own it. In 2018, KFC UK faced a major crisis when they ran out of chicken, leading to the temporary closure of hundreds of their restaurants. However, the brand responded quickly with a humorous ad campaign that apologized for the shortage and thanked customers for their patience. The ads featured the KFC logo rearranged to read "FCK" and included messages like "We're Sorry" and "A Chicken Restaurant Without Any Chicken. It's Not Ideal."

5. Collaborate over Cause

Partnering with charitable organizations can be a great way to build social currency and connect with your audience on a deeper level. Are there any good practices you follow in your company? From waste management, common donation drives, feeding dogs outside your office to bigger promises like TOMS (every shoe sold = one pair of shoes donated to the shoe-less). It could even be a limited edition stock. This can help to create a sense of purpose around your brand and increase customer loyalty.

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