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> <channel><title>Miles Design Blog &#124; branding, design and strategy for professional services firms &#187; social</title> <atom:link href="http://www.milesdesign.com/blog/tag/social/feed/" rel="self" type="application/rss+xml" /><link>http://www.milesdesign.com/blog</link> <description>Branding, design and strategy for professional services firms</description> <lastBuildDate>Sun, 05 Feb 2012 13:16:25 +0000</lastBuildDate> <language>en</language> <sy:updatePeriod>hourly</sy:updatePeriod> <sy:updateFrequency>1</sy:updateFrequency> <generator>http://wordpress.org/?v=3.3</generator> <item><title>Brand Value vs. Social Currency</title><link>http://www.milesdesign.com/blog/2010/06/07/brand-value-vs-social-currency/</link> <comments>http://www.milesdesign.com/blog/2010/06/07/brand-value-vs-social-currency/#comments</comments> <pubDate>Mon, 07 Jun 2010 13:39:47 +0000</pubDate> <dc:creator>Josh Miles</dc:creator> <category><![CDATA[Miles Design Indianapolis]]></category> <category><![CDATA[brand]]></category> <category><![CDATA[premium]]></category> <category><![CDATA[social]]></category> <category><![CDATA[Twitter]]></category> <guid
isPermaLink="false">http://www.milesdesign.com/blog/?p=196</guid> <description><![CDATA[I was reading a blog last week on FastCompany.com regarding a report from Vivaldi Partners on the &#8220;Social Currency Ranking&#8221; of various brands from Apple, to BMW, to JetBlue. The concept of social currency is different than overall brand value. Where brand value is based on the difference in cost between a given brand and [...]]]></description> <content:encoded><![CDATA[<div
class="tweetmeme_button" style="float: right; margin-left: 10px;"> <a
href="http://api.tweetmeme.com/share?url=http%3A%2F%2Fwww.milesdesign.com%2Fblog%2F2010%2F06%2F07%2Fbrand-value-vs-social-currency%2F"><br
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src="http://api.tweetmeme.com/imagebutton.gif?url=http%3A%2F%2Fwww.milesdesign.com%2Fblog%2F2010%2F06%2F07%2Fbrand-value-vs-social-currency%2F&amp;source=milesdesign&amp;style=normal" height="61" width="50" /><br
/> </a></div><p>I was reading a blog last week on FastCompany.com regarding a report from <a
href="http://www.vivaldipartners.com/">Vivaldi Partners</a> on the &#8220;Social Currency Ranking&#8221; of various brands from Apple, to BMW, to JetBlue.</p><p><img
class="alignnone" src="http://images.fastcompany.com/upload/social-currency-jetblu.jpg" alt="" width="525" height="183" /></p><p>The concept of social currency is different than overall brand value. Where brand value is based on the difference in cost between a given brand and the generic version (think Coca-Cola and the grocery store brand soda), Social Currency Rankings are based on affiliation, identity, information, advocacy, utility and conversation. As Vivaldi states, it&#8217;s &#8220;the extent to which people share the brand or information about the brand as part of their everyday social lives at work or at home&#8230; Our study shows that social currency significantly drives brand loyalty. Moreover, brands with a high social currency command a price premium.&#8221;</p><p>In short, if your audience adores and talks about your brand on a social level, there&#8217;s a good chance they&#8217;ll pay more to remain loyal to your brand.</p><p>Out of curiosity over the weekend, I polled my <a
href="http://twitter.com/joshmiles">Twitter</a> followers about some of their favorite brands. I asked &#8220;What brand makes you feel the most proud, special or hip? Which brands do you aspire to use, own, interact with?&#8221;</p><p>Here are a few of the responses I received:</p><p><a
href="http://twitter.com/a_kilbourne">@a_kilbourne</a>: my local Starbucks knows my name and my favorite drinks. Many times I will go out of my way to stop there.</p><p><a
href="http://twitter.com/MattWallpe">@MattWallpe</a>: Always though Kenneth Cole was pretty cool and loved wearing it.</p><p><a
href="http://twitter.com/danebenton">@danebenton</a>: target, starbucks, apple, luxury vehicle brands, just to name a few.</p><p><a
href="http://twitter.com/danebenton">@danebenton</a>: for me it&#8217;s a close tie between BMW and Audi, based on style and brand.</p><p><a
href="http://twitter.com/meladorri">@meladorri</a>: I gotta admit I really enjoy the experience of driving my Acura. Been impressed with most brand interactions.</p><p><a
href="http://twitter.com/phidaniels">@phidaniels</a>: diesel jeans.</p><p>Not surprisingly, you&#8217;ll see many of these brands show up in Vivaldi&#8217;s report. Check out their findings. Some of the results may surprise you:</p><p>&#8220;The strongest brands in America, according to a new study, are not American. They are German and Japanese luxury car brands: BMW; Mercedes; and Lexus. But the U.S. brand with the greatest &#8220;social currency&#8221; is one that has existed a mere ten years (and it&#8217;s not even an Internet or tech company): JetBlue.&#8221; <a
href="http://www.fastcompany.com/1656066/apple-jetblue-social-currency-twitter">continue reading on FastCompany.com</a></p> <iframe
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