Brands cashing in social currency
Special K is the latest brand to be cashing in on social currency with the popup “tweet shop” that launched in London in September to promote a new line of crisps. People could get a free packet by paying with a tweet.
I’m not sure how successful the campaign was – it doesn’t appear that the hashtag #tweetshop has any attribution to Kellogs. What I find interesting is the very open call to action to cash in your social currency.
We have already written about the generous store in Denmark that let people buy chocolates with the promise of a good deed. It seems to me that this example had a bit more depth and integrity because there was a more personal involvement in the tweet (the good deed that someone signed up for).
American express gave new meaning to it’s brand signature “The membership effect” by baking social currency into an innovative new service for card members and merchants alike. By tweeting about a promotion, there was an automatic reduction on your statement.
On the other side of things it’s interesting to note that there are new services breaking into the market that allow you to pay via twitter and instagram. Chirpify hooks up your social media accounts and your credit card. Although services like Chirpify do not allow you to buy something with a social currency – there is a sort of social currency that comes out of the payment. In a way it feels like a new format for bragging. Potentially I think this could be an interesting space for luxury brands.