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How to build social currency for a brand?

If you want to increase the effectiveness of your marketing and cut down on advertising expenses, you need to use social currency to reach your customers. Social currency is the value of your brand in the eyes of your customers. It is the reason they talk about you in public. The easiest (and the cheapest) way to build social currency today is through social media.

If you’re EVERYWHERE, you’ll get NOWHERE

Firstly, take the time to evaluate which social media platform is used by the majority of your customers and focus on that. Especially if you are working on a small budget or with a small team, handling different accounts can be difficult, if not impossible. You don’t need an SEO expert nor a diploma in Canva. You need a starting point and a strategy.  

Different social media platforms have different ways to connect people and ideas. Once you know your platform,  You need to know

  1. Who your audience is?
  2. Where are they?  (Instagram, Youtube, Twitter, Facebook)
  3. What kind of content your customers want?

Once you have answered these questions, you will know if you need to be on Instagram or Facebook. You will know your potential customers like video content or pictures. Are they looking for something unique or something with social proof.

How to make content?

There are endless ways to do this.

  • How-To guides
  • Educational content
  • Show innovative ways people have used your products
  • Testimonials
  • Partnerships
  • Take on trending topics etc

What does a company have to show people outside?

Products and … ?

Is that all? Not at all. Not necessarily. Once you realise this, you will have mastered social currency. Making great products is the obvious way to attract people. Here’s how you can do better.

Don’t just sell products, sell a need. Sell an identity.

Those are not just punchy lines. Find out why people would want to buy your product or service? Here are some examples.

Tired of boring T-shirts, here’s how to stand out in a crowd.

“IBM wants it all… Will Big Blue dominate the entire industry? The entire information age? Was George Orwell right?” - famous 1984 Apple commercial

Steve Jobs constantly made himself or his company the underdog, the David to a Golianth, and rallied support for himself. He sold an identity. You are not Steve Jobs. Guess what, you don't need to be. To achieve a connect with the audience, marry yourself to something bigger than you. People talk about finding your values. For a change, they are not wrong. Find out one thing you have and others don't. Focus on that.

Bonus example:

Very self-effacingly, WYLD. Making compelling marketing cheap.

Map To The Treasure

Now you know where to start and you know the direction. Find a map and start running. A strategy to tie it all together.

This one is a bit of a personal choice based on your strength of procrastination. I suggest, STEAL. Life nor business are long enough to make all the mistakes on your own. Find a good strategy through marketing gurus on LinkedIn, Twitter, or better blogs than you are currently reading and copy.

Here’s one we like. Stolen from LinkedIn :)

Month 1: Strategy

Spend this month researching, learning and planning.

- Audit your website and existing content

- Talk to (and learn from) your customers

- Find new relevant keywords to target

- Create your action plan from all the data

Month 2: Optimise

Spend this month optimising your existing website.

- Optimise your site structure

- Update your existing content

- Fix technical issues from the audit

Month 3: Content

Spend this month creating and publishing new content.

- Create outlines and briefs for writers

- Produce high-quality content at scale

- Publish the content as quickly as you can

- Set up reporting to track your performance

Repeat months 2 and 3 in your next sprint.

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