“The Gift Economy: Content as Social Currency”
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#cmworld The Gift Economy: Content as Social Currency Mark Bonchek, Ph.D. ORBIT+Co @MarkBonchek • #cmworld
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Content is more than content. In our digital age, content has become a form of social currency. It has meaning beyond the information it contains. This social dimension of content goes much deeper than viral videos. Brands that transform their products into content, and their content into social currency will succeed. In this provocative talk, Mark Bonchek will take us on a journey into the past and future of social media.
Transcript of “The Gift Economy: Content as Social Currency”
#cmworld
The Gift Economy:Content as Social Currency"
Mark Bonchek, Ph.D.!ORBIT+Co!
@MarkBonchek • #cmworld!
#cmworld
THE GIFT ECONOMY
#cmworld
MOVING DAY!
#cmworld FRIENDS!
#cmworld PIZZA AND BEER!
#cmworld
OR CASH?!
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PROFESSIONAL MOVERS!
#cmworld PIZZA AND BEER?!
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CASH!
#cmworld GAS MONEY!
#cmworld
ECONOMY A system of interac5on
and exchange
GIFT Something given without payment
in return
MARKET The act of buying and selling
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MARKET ECONOMY GIFT ECONOMY
TRANSACTION RELATIONSHIP
CONTRACTS COMMUNITY
STATUS IS BOUGHT STATUS IS EARNED
FINANCIAL CURRENCY SOCIAL CURRENCY
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500 YEARS AGO: BROADCAST
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GUTENBERG ONE-‐TO-‐MANY
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25 YEARS AGO: DIGITAL
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BERNERS-‐LEE ANY-‐TO-‐ANY
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5 YEARS AGO: SOCIAL
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ZUCKERBERG MANY-‐TO-‐MANY
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AUDIENCE: “TALKING AT”
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BROADCAST
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NETWORK: “TALKING BACK”
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COMMUNITY: “WHAT’D YOU SAY?”
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MEDIA AND THE FLOW OF CONTENT
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AudienceOne-to-Many!
! !Print / TV / Radio!
NetworkAny-to-Any!
Digital/Web!
! !
CommunityMany-to-Many!
Social/Mobile!
! !
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CHANGING ROLE OF BRANDS
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TO: Enable and Empower
BRAND FROM: Persuade and Promote
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MARKET ECONOMY GIFT ECONOMY
TRANSACTION RELATIONSHIP
CONTRACTS COMMUNITY
STATUS IS BOUGHT STATUS IS EARNED
FINANCIAL CURRENCY SOCIAL CURRENCY
#cmworld
SOCIAL Pertaining to
friendly rela5ons
CURRENCY Something used as a medium of exchange
+
SOCIAL CURRENCY Something given or exchanged to
establish or reinforce a rela5onship
SOCIAL CURRENCY
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SOCIAL CURRENCIES IN MUSIC
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FINDING CURRENCY IN TRADITIONS
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THE FUTURE OF DATA AS CURRENCY
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TURN YOUR CONTENT INTO SOCIAL CURRENCY
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www.5nyurl.com/ContentAsCurrency
More at:
#cmworld
Mark Bonchek, Ph.D.!@MarkBonchek!www.orbit.co!
