Social Currency How You Can Use It
What is the number one problem organizations complain about when launching a new product or service to employees and/or customers?
These days the success of a product or service is not just about how easy it is to use or how many features it has, the success of a product can also be measured by how many employees use it. In other words, how are employees engaging with your product?
A lack of engagement with new or existing technology is a universal problem. The technology adoption lifecycle shows us that only a minority of ‘early adaptors’ are willing and able to use a new technology right after it launches. The majority of users need not just training, but they also need encouragement and incentive to use a product to its full potential.
Enter ‘social currency’ on iDenedi.
The idea of social currency is not a new one – just about every game, club, and loyalty program uses a pointing system to reward users on engagement, which often translates into a win-win situation for both parties.
iDenedi uses a similar concept with the ‘social currency’ feature. iDenedi measures member engagement inside of groups. Sharing, commenting, liking, and posting allows members to earn ‘social currency points’ which can be tracked by organizations to understand how employees and customers interact with specific announcements and activities. On the other hand, social currency can be exchanged for certain perks – like monetary bonuses, additional leave days, etc.
Social currency & marketing
We previously discussed the benefits of using a tool like iDenedi for marketing – what better way to spread the word about what your organization does than through its employees? Social currency encourages those employees to share, allowing them to earn the most points sharing your public content
Social currency and learning engagement
One of our customers loved the idea of social currency but wanted to tweak it. He cared about employees engaging, but he wanted them to engage not just on iDenedi, but with their organizational learning platform. The solution was simple – we integrated their learning tool with iDenedi, and as they shared content with the groups, we measured how much employees were interacting with the learning content. This resulted in an increase of employee learning, but it also resulted in revamped, revised learning content once the customer saw numbers on how much or little this content was appealing.
In an ideal world, organizations would launch technologies and employees and customers would jump on board to use them, no questions asked, no incentives required. In this continuously changing world where employees are often exposed to a new technology weekly, they need that extra incentive to engage.
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