Friday, February 05, 2010

The social media currency

One thing I've been thinking about. Comments appreciated. I think this is pretty naive, in a way. Would like to ponder more, and discuss.

In today’s social media world, there is only one currency that matters. That currency is Time. The Time your followers devote to reading and ReTweeting your tweets on Twitter. The Time your Fans give you on your Facebook Fan Page, the Time they spend commenting on your stuff, reading your messages, interacting with you, watching your videos and sharing everything onwards.

Money will come and go. That Time is something no one will ever get back.

Now you might say that “so what? They’d be spending that time on something else instead, probably something a lot worse or, *shock horror*, something my rivals have produced.”

That might very well be true. But these people have actually chosen to give a certain amount of their Time to you, for some reason. It could be because of who you are, it could be because of the message you’re conveying. This Time should be treated with respect.

This Time is the one thing that you can sell onwards, to sponsors, brands, ad agencies etc. In the end, this Time is what will make some bigger company buy your start-up or some bigger company come in for you as a consultant or hire you right away. New amounts of Time can be given again, and again. But they will not be given, if the earlier amounts of Time have been squandered in one way or another.

Treat the Time given you with respect, and never take it for granted. After all, it’s Time that you’ll never get back, either.

17 comments:

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