The word progression is a noun meaning moving from one thing to another. As we witness conversations we can see them moving from one thing to another as people engage, share their perspectives and the conversations, those worthy of following, progress.
As conversations, the content and context of the social web, move from one thing to another one can see a progression that follows a logical progress.
When I share information with someone it becomes knowledge in the intellect of the recipient to own. It is from this sharing that the knowledge gained becomes a learning exchange. Exchange of knowledge also means a “Change of Knowledge” – this is how learning works…it is a change in knowledge. Someone’s knowledge learned by others can create innovative perspectives, approaches and applications to problems or solutions never before thought of or applied. Innovation happens only where knowledge is changing, learning is happening, and new ideas are forming.
The entire process is an exchange of currency that progresses in value as the “currency exchange” expands from one to one to millions. The entire process accelerates through the engagement of people from anywhere, everywhere and all having unique perspectives as to whether the original information shared deserves to go through the progressive cycle of exchanges which creates the currency through each of the phases.
Cashing In On the Currency
When a business implements a new idea or a new product they usually do so under the premise that the idea or product will either directly or indirectly create value that equates to improved revenue. The idea or product originates from conversational exchanges that run through the cycle of exchanges illustrated in the image on this post. People within a business take information, create new knowledge or recycle old knowledge and learn how to apply innovation to an idea or a product or process. If the exchanges validate a premise then the business launches the new idea or product. The internal exchanges created the currency required to take the initiative to an external audience. When the audience embraces the idea or product real currency is exchanged and revenue or value follows. That is the progressive sequence to cashing in on the cycle of exchanges that lead to numerous currencies.
Currency is a noun which means money or other item used to facilitate transactions. Notice the definition includes “other item used to facilitate transactions”. The other item includes the exchanges discussed in this post, information, knowledge, learning and innovation all represent a progression of exchanges that create conversational transactions. The term transaction is a noun meaning an exchange or trade, as of ideas, money, goods, etc.
Social media facilitates the conversational transactions and they naturally flow through the illustrated cycles. The difference is those that understand the cycles work at facilitation aimed at increasing the value of the currency exchange in each cycle.
Notice the next to last exchange is innovation before there is an exchange of trade for money (currency). So back to the old argument and quest for an ROI from social media. Social media is only a new means to run through the five exchanges that facilitate the creation of the currency. The ROI is only reflective by the rate (speed) in which your business properly and effectively applies each exchange. Get it? If not read this again.
What say you?