SOCIAL CURRENCY

Although the title of this article may sound abstract, in essence it only means the way we present ourselves to others.

Self-disclosure is a human characteristic, which we perpetuate all our lives.

We tell the people around us what we bought at the mall, we show them on social media what vacation we’re going on or what car we’re driving. This desire to share our opinions, experiences and thoughts shows others how we want to be perceived.

This habit starts from childhood. Once a child has painted something, written something or managed to score a goal, he will try to show his success.

What success did your last post on social networks show to your friends?

It is obvious that people like to talk about their experiences and about themselves.

When they show their friends the purchased car, they actually pay a social currency. It is expected that this car will give them a different status and they will be looked at differently.

The social currency only buys positive impressions. We all want to be liked and that makes the need for social approval a fundamental motivation.

Some big companies offer famous bags coveted by ladies only after several purchases have been made and after a long waiting time. Their products become more desirable and rarer, and the buyer shows his willingness to wait in terms of the social currency he will have later. If something is more difficult to obtain, people will think it is worth the financial effort.

The simple fact that a good is not easy to obtain can make the buyer appreciate it more and tell others that it is in his possession.

Exclusivity and rarity make many products more desirable and those who own them to be considered special because they have fulfilled some special conditions.

Those who own such goods feel initiated, as if they are part of the brand family.

From the point of view of the entrepreneur, you have to make your customers feel initiated and this can only bring you benefits and make your products more desirable.

The customers of your business will also tell other acquaintances, who in turn will want to feel special, unique and with a high status.

What purchase would you like to make to feel special and unique? Would you tell your friends?