Increasingly I am getting more and more convinced that companies that get the ‘Social Capital/ Currency/ Influence measurement formula right are the ones that will ride the next big wave in the social media industry. If you firmly believe that social media is important then you would be convinced that measuring it is even more important. In order to have a structured approach to every social media strategy it will be increasingly important to determine social influence and capital of people on your network. The jury is still out on there on what the best way to measure it is and what the tools that can do this accurately are. But its importance and its need to be measured are a given and no longer a matter of debate. Though ‘Empire Avenue’ a financial-social simulation game has been out since the mid of last year as a facebook app it seems to have picked up traction recently with some of the SoM thought leaders and channels. I wouldn’t restrict it by calling it a facebook app only, as it has the capability of adding in more of your social media assets like your twitter feed, blog streams, you tube channels and flicker profile. The best way to describe ‘Empire Avenue’ is that it is a social media exchange, where you can buy and sell shares in any social media profile and earn virtual currency by being active socially online! You can buy shares in your friends, your followers, people with similar interests, brands you love and even your favorite celebrities. The more people that buy you, the higher will your stock rise and the more money you will make on a daily basis! As mentioned before Empire Avenue allows you to connect with people across the entire social web – on Twitter, Facebook, Flickr, YouTube and more. It measures the value of your engagement and network on various Social Networks. These “Network Scores” form a large part of your Share Price. As people buy into what you say and the content you create, your network value and your Share Price will increase. The scores and measures in the game are as follows
Your Share Price Your share price is your value on the web! It’s calculated based on your online activity. Most importantly, it’s influenced by Buying and Selling of your shares. As people buy, your share price will increase.
Your Network Scores Each score represents your value in that network! Use the scores as tools to figure out how active and engaged you, or someone else, is in a network.
Your Wealth Your wealth is a combination of the money (Eaves) in the bank and the current worth of all the people you own! You earn money from “Dividends” paid out by the daily activity of the people you invest in!
I would say ‘Empire Avenue’ is definitely worth a look if you haven’t checked it out already.