Nowadays, there are very few people that do not participate in social media in some way shape or form. As social media has evolved, so have the opportunities for its loyal users. What I am referring to is the way in which a user can leverage their social capital and become the richest person without a dollar to his or her name.

For example, Mercedes created an Instagram campaign entitled “Take the Wheel.” The campaign chose 5 of Instagram’s best photographers (AKA normal people that had a large Instagram following) and gave them each a new Mercedes Benz CLA to drive for 5 days and photograph. The person whom received the most likes for their photos of the Benz got to keep the car. Check out the video Mercedes created here about the contest. As a result, the 5 contestants accumulated nearly 2 million likes on the photos of the Benz they posted. The winner accounted for nearly half a million likes on the Benz photos he posted during those 5 days. Most importantly, the sales for the CLA have been better than ever following this campaign.

If you work hard to build a strong presence, you can leverage your social capital in many different ways. Brands are starting to realize the value of social currency versus actual currency. While a brand cannot survive on social currency alone, it certainly can grow from harnessing the benefits of it. Which means that brands have to give up product in exchange for this social currency.

Marc Jacobs knows the value of social currency and has been extremely successful in leveraging. During New York Fashion Week this year, Marc Jacobs opened a pop up shop where the cost of certain products were not in dollars but tweets and Instagram posts.

“By snapping photos and posting messages with the hashtag #MJDaisyChain, visitors are awarded with Marc Jacobs-branded gifts when exiting the store. This ranges from perfume and necklaces to even purses (the best Instagram photo of the day will win a handbag). Each visitor then visits the front counter to receive a gift.” – Mashable

In 2014 we are working to create social currency exchanges for all of our clients. We have some incredible ideas so watch out for amazing opportunities via Gossip Genie to cash in on your social capital.