An in-depth study into how community interaction and trustworthiness reshape the paradigm of social media influence.

With social media platforms becoming a cornerstone of daily living, the strength of influencers and their potential to direct public discourse have emerged as a priceless commodity. Yet, how do we quantify this power accurately? Does it entirely hinge on an influencer’s follower count or the number of likes received? This article navigates the pitfalls of assessing community influence solely based on follower count and engagement data, as we venture into an alternative metric termed ‘Social Capital.’

Decade-long challenges and modern progress

Over the years, marketers have banked on parameters like followers, likes, and comments to discern an influencer’s content impact. However, these metrics barely scratch the surface. A large follower base doesn’t necessarily mean a highly interactive or influential audience, and engagement rates can often be skewed through paid promotions or fraudulent followers.

Social media is currently undergoing a significant shift towards community-centric models, led by platforms like Discord. As the industry matures, it becomes more apparent that audience quality trumps quantity. Even Facebook acknowledges this trend, advocating for groups over pages to cultivate more intimate, engaged communities.

Comparing closed and open community models

Platforms like Twitter and Facebook operate on an open follower model, contrasting Discord’s approach, which permits influencers to build their own communities of engaged followers with shared interests. This sense of exclusivity fosters active participation in discussions and engagement with the influencer’s content.

Discord grants influencers control over their content and brand, enabling them to construct their own communities, fostering stability and reliability. Discord’s emphasis on voice and text-based communication facilitates a more intimate setting where followers can interact with influencers in real time, building deeper connections and promoting genuine engagement.

Where does the Web3 decentralized model fit?

The prevailing approach to influencer evaluation overlooks community trust’s power and its role in molding public opinion. This is where Social Capital steps in.

Social Capital is a metric that estimates an influencer’s power based on their community’s trust and financial backing. It considers various factors, including the influencer’s track record of producing quality content, their community’s financial support, and their relationships with other influencers and thought leaders.

One practical application of Social Capital is through social tokens. Similar to company stocks, social tokens symbolize a commitment and trust in a public company’s performance. For influencers, social tokens are backed by community trust and funds, serving as a measure of their Social Capital.

By introducing a new merit of Social Capital, the industry can surpass traditional metrics’ limitations and more effectively gauge an influencer’s power. It emphasizes community trust and financial backing, potentially leading to more authentic and influential content.

Who benefits from the new model

Agencies offering influencer services usually lean on traditional metrics like follower count and engagement to demonstrate their services’ value to clients. These metrics are easily measurable and provide a sense of an influencer’s reach and potential impact. However, agencies are cognizant of these metrics’ limitations and the potential for fraudulent or inflated figures.

From an agency standpoint, Social Capital and social tokens could provide a more precise and reliable method to assess community support and engagement. By monitoring the financial support of an influencer’s community through social tokens, agencies could offer clients more tangible proof of an influencer’s impact and audience trust.

Final thoughts

To sum up, social capital holds the potential to revolutionize how we assess community power on social networks. By considering factors like community trust and financial commitment, social capital offers a more intricate and accurate depiction of an influencer’s actual influence and impact.

With the advent of social tokens and other innovative technologies, we can establish an engaged community model that values authenticity, intimacy, and meaningful interaction. This is advantageous not only for influencers but also for businesses and followers seeking more valuable and genuine online connections. As the social media landscape continues to evolve, social capital will undoubtedly play a critical role in shaping community power and influence’s future.