Advocurrency

January 20 View Comments Category: Findings

I have been blogging and twittering about Snow Patrol recently and from this, I know of 7 people who have consequently bought a Snow Patrol album and 3 who have spent over £100 on tickets.

Now we all know how powerful social media can be but it got me thinking about how b(r)ands could use this effect even more powerfully than creating blogs, twitters and books of faces.

In my head I call this Advocurrency.

Advocurrency rewards people who advocate via social media.

Of course I bought the dot com.

I wonder if there would be a way that when said buyers of Snow Patrol albums/tickets could tag their source and thereby gain something in return – plus, the advocator is listed as a Snow Patrol advocate (with their @ name or whatever) for others to follow.

The advocates could earn an Advocurrency that rewards their promotion – maybe like an affiliate scheme with a twist so that if I get another 20 people to buy a pair of tickets via social media (so £2000 revenue in total) my Advocurrency is running at a secret show pass or something….I dunno.

None of this is rocket science but there is a difference between stating the bleeding obvious and doing it.

Who’s with me?

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  • Advocurrency seems very much the new version of what coupons used to be: rewarding for buying. Then came the x2 for one, which in the case of products to be consumed on the spot - meals, ie, indirectly forced the public to bring someone along to enjoy the offer and indirectly introduce a new client to the brand.

    How do you monitor that some people are not waxing lyrical over some brands just for the money?

    Money never really bought the soul of the true fans so a system where people are rewarded with real treats would definitely go down well received but brands already do this by other means, ie fanclubs.

    If one was to use a real sentiment measuring gauge like, say, http://www.affectlabs.com/, the real value for the brands would be to actually discover what core elements are precisely what have captured the heart and soul of people, beyond the product itself.

    Advocurrency system would be a good system to separate the people who truly share from those who keep it to themselves -selfish b*sterds. People who happily disseminate information are the ones to watch online because they are the true agents of change.
  • Really interesting!!
    This is a whole new way to explore the social networks..
  • Love it. Social media is destined for such pathways.

    Its just going to take an action...
  • Yup - someone needs to model it - sketch first, spec later - then assemble the parties needed - then try it small then scale it fast.

    Anyone else in? I feel a hospital club beer coming on....feb 3rd 5pm?
  • Intriguing, and I like the idea of taking it much further than a basic affiliate scheme. It's also interesting from the perspective of giving a great demonstration explicitly of how things spread, without having to spend hours trying to wheedle out the right bit of data...
  • Mate, your esteemed colleague Rory Sutherland has also blogged on a recent theme - see my post http://www.andrewgrill.com/blog/?p=1635
  • yep.....imagine this using @ ID...........imagine the interweb links of advocates and advocatees....

    giving free tickets to anyone we choose is one part of the circle - I wonder if we can fully close the loop?
  • picture if you will, a mobile app that records your action in doing this and informs the world, with your permission of course :)
  • indeed.....love that.
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