07.29.09
What is Social Media Capital?
Social Capital, Social Capital Markets (follow SoCap09 on Twitter), Social Enterpreneurship, Social Venture Capital (…) are very buzzworthy terms at these days, and they are all in the the close relation with Social Media…
It is indicative that many social media experts use the term “Social Capital” to clarify and define the benefits of an organization’s use of Social Media, although there are not a lot of places where you can find the explanations about connections between the Social Capital and Social Media.
Defining Social Media Capital
Social capital is a social science concept, which in essence defines the value of the connections in the (offline and online) social networks.
As in the other forms of Capital, the value is not important by itself, when it is produced by the connections in the social networks. That value can be earned and spent, as the benefit of organization’s engagement in social media environment.
According to Susan Mernit, Social Media Capital represents the value which is developed by the connections, the reputation and the influence of an individual or an organization, in the social media environment.
Susan Mernit also defines the connections between Social Capital and Social Media Ecosystem (Social Media Capital), with the three Rs rule - Referral, Recommendation and Reputation. Read the rest of this entry »
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