How Brands Can Create Social Currency – A Framework for Managing Brands in a Network Era

Zinnbauer, Markus; Honer, Tobias

doi:10.1007/s11621-011-0063-8

“…Section 3 contained six questions related to C-C identification, as adapted from [58] in the context of the sharing economy business Airbnb. Section 4 contained five questions about the awareness of social capital, a concept proposed by [59,60]. Five additional questions in the survey related to consumer citizenship behavior as it pertains to participating in a sharing economy business that holds CSR values and that are also mentioned in [61,62].…”

Section: Research Methods and Designmentioning

confidence: 99%

No Money? No Problem! The Value of Sustainability: Social Capital Drives the Relationship among Customer Identification and Citizenship Behavior in Sharing Economy

Wang

¹

,

Ho

²

2017

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Abstract:This work provides a novel approach to the corporate social responsibility (CSR) concept and to CSR activities, using social capital as the driver of consumer citizenship behavior in the sharing economy business system. An online consumer questionnaire was carried out in Taiwan to examine seven proposed hypotheses to investigate the factors affecting behavior intention. The sample includes 445 participants and investigated their consumer citizenship behavior in response to companies' participation in CSR activities and sharing of economic opportunities, in this case, Airbnb Inc. This study uses structural equation modeling (SEM) to analyze the data. The result explores a new form of entrepreneurship marketing strategy and indicates that CSR has a positive effect on consumer-company (C-C) identification and the perceived value of sustainability. This study also establishes that social capital is the key mediator of the relationship between C-C identification and the perceived value of sustainability in consumer citizenship behavior. This research contributes to the idea that marketers should build well-designed CSR activities and deliver the perceived value of sustainability and consumer identification through social capital accumulation, which has proven to positively increase consumer citizenship behavior in the sharing economy environment. Consequently, the authors can suggest that entrepreneurs/executives should understand that CSR affects the perception of sustainability, consumer-company identification and improve consumer citizenship behavior. Most importantly, CSR activities focusing on sustainability issues and operating with social capital may lower costs and improve efficiencies as well. This finding could be viewed as a pioneering benchmark for further research.

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“…Information and conversation are intimately connected (22) with each other. Information from a marketing perspective is about the value you obtain by exchanging and receiving information on a product and services (15,18). Information refers to this conversation, which sees in general the importance of information to the community members (28) by curators and creators.…”

Section: Informationmentioning

confidence: 99%

Social Currency Is a Personal Entity in the Social Media Platform Domain: Sharing and Caring Phenomenon in E-Commerce Platform

Khan¹,

Tao²,

Alam³

2021

Preprint

0

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Due to the rapid development of information and communication technologies, many daily activities have been merged online, and they have become more flexible and more effective. The massive growth in the number of online users has activated virtual word concepts and created a new phenomenon: the social currency to facilitate e-commerce activities such as buying, selling, and trading on social media. This study aims to recognize how social contacts in 'action' within social media platform permeates sharing and transactions of valuable resources. The active interaction, entertainment, e-WOM traded in social networks are conceptualized as 'social currency' that people owe to each other in social circulation. This study demonstrates the importance of consumers' time-sharing (CTS) concept in the social media environment to earn social reputation (reviews, likes, comments, followers, favorite). A total of eight exploratory semi-structured qualitative depth-interviews were conducted at Dalian China. The data were analyzed using NVivo 12 software. Results suggested that the interaction, entertainment, e-WOM and traded between time and money in social networks are conceptualized as 'social currency' that people owe to each other in social circulation. The current study confirms the importance of the newly developed social currency concept in terms of social circulation.

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“…Social currency is a mixture of words and actions. S.C. is observing as a result of how often existing online communities communicate and exchange knowledge about products and services in their daily lives with other individuals (18). S.C. purpose is to build a social community through content, insight, and advice with value added.…”

Section: Social Currencymentioning

confidence: 99%

“…Advocacy is demarcated as the dynamic efforts by creators and curators on social media platforms promote the attraction and positive qualities of products and services and advocate the online community's desire and needs. In other words, advocacy refers to consumer initiatives, product promotion, and interaction with other product users and online communities (18). According to Bettencourt (1997), advocacy is a motivating guideline that leads consumers to take the initiative to promote a product diligently through the various channels in their social network.…”

Section: Advocacymentioning

confidence: 99%

See 1 more Smart Citation

Social Currency Is a Personal Entity in the Social Media Platform Domain: Sharing and Caring Phenomenon in E-Commerce Platform

Khan¹,

Tao²,

Alam³

2021

Preprint

0

View full text Add to dashboard Cite

Due to the rapid development of information and communication technologies, many daily activities have been merged online, and they have become more flexible and more effective. The massive growth in the number of online users has activated virtual word concepts and created a new phenomenon: the social currency to facilitate e-commerce activities such as buying, selling, and trading on social media. This study aims to recognize how social contacts in 'action' within social media platform permeates sharing and transactions of valuable resources. The active interaction, entertainment, e-WOM traded in social networks are conceptualized as 'social currency' that people owe to each other in social circulation. This study demonstrates the importance of consumers' time-sharing (CTS) concept in the social media environment to earn social reputation (reviews, likes, comments, followers, favorite). A total of eight exploratory semi-structured qualitative depth-interviews were conducted at Dalian China. The data were analyzed using NVivo 12 software. Results suggested that the interaction, entertainment, e-WOM and traded between time and money in social networks are conceptualized as 'social currency' that people owe to each other in social circulation. The current study confirms the importance of the newly developed social currency concept in terms of social circulation.

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How Brands Can Create Social Currency – A Framework for Managing Brands in a Network Era

Cited by 22 publications

References 10 publications

No Money? No Problem! The Value of Sustainability: Social Capital Drives the Relationship among Customer Identification and Citizenship Behavior in Sharing Economy

No Money? No Problem! The Value of Sustainability: Social Capital Drives the Relationship among Customer Identification and Citizenship Behavior in Sharing Economy

Social Currency Is a Personal Entity in the Social Media Platform Domain: Sharing and Caring Phenomenon in E-Commerce Platform

Social Currency Is a Personal Entity in the Social Media Platform Domain: Sharing and Caring Phenomenon in E-Commerce Platform

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