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| UPDATED: 2007-09-06 |
 Earning And Spending Your Social Dollars 
By: Andrew Wee 2007-09-06 If you havent read my Building and Banking Your Social Dollars posts over at the MyBlogLog blog yet, go ahead and read it because this post... ...builds on the social dollars youll accrue and how best to use it. A lot of people think money is the big thing that will give you freedom in life. Thats not the case. Think social influence. The most powerful man in the free world, the President of the United States, makes about $200,000 a year from what Ive heardyet hes able to invade other countries, cut off the oil supply to countries he doesnt like. Id say that this social influence is way out of proportion to his salary. Although guys like Richard Branson, Donald Trump and Warren Buffett are probably making about a thousand times more than George W Bush, their social influence is much less. Their ability to shape reality is much more limited. Lets look at another example of social power, Steve Jobs isnt in the same category as some of the tycoons, but his social cachet in dreaming up the iMac and the iPods give him unprecedented social power in shaping popular tastes (About 9 out of every 10 MP3 players sold is now an iPod). On the Internet Marketing arena, youve heard me bandy the terms social traffic and social networking about. Is it the same as Web 2.0? some have asked. On the surface of it, it looks similar, the Web 2.0 (or social media guys) use Digg, MySpace, Facebook, Craigslist, forums - these are the same tools I use. Where we differ however, is my focus on the inner game of Internet Marketing. Social power can be simplified in the following manner: You are either an influencer OR a follower. Influencers tell you to do something, and youre likely to do it. Is this the same as power and authority? Not quite - authority is something thats given to you because youre a police officer or a judge or a senator, social power is conferred, its informal, and at the same time it can be more powerful than formal power. Are you lost yet? A lot of people think they understand social marketing/social power, and they think it has to do with email or site spamming, but its actually a whole lot more than that. Im planning to get a speaking slot at Affiliate Summit West, where Ill talk more about the inner game of Internet Marketing. Comments Tag: social marketing Add to  Del.icio.us |  Digg |  Reddit |  Furl About the Author: Andrew Wee is an Asia-based Internet Marketer focused on blogging, social traffic generation and affiliate marketing. Previously rated as one of Asia's top technology journalists, Andrew covers breaking news and industry developments at WhoIsAndrewWee.com |
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