Social roots: why social innovations are creating the influence economy

In: Digital and social media marketing and advertising collection

Abstract

Traces the history of a fundamental economic shift that is underway. The shift is rooted in virtualization, a key innovation factor, but when combined with influence networks, the significance becomes transformative. The combined power of these dimensions is creating a new economic paradigm based on return on collaboration metrics rooted in social capital theory. The genesis of this rich transformation is driven by collaboration and social media approaches that began in 2003. Over the next decade, more social engagement tools were added to the growing arsenal of collaborative platforms, many of which continue to change and evolve today. Independently these companies created new ways to perform individual tasks; collectively they change the way we do business. And all of this rapid innovation has occurred in a decade. For some it is hard to believe how much the world has changed in just 10 years. Social Roots is the story of the near magical transformation, written specifically so we do not forget the significance of this decade of leadership in the influence economy. Many of the stories in the first part of Social Roots are about organizations that took the opportunity to experiment and experience the power of social networking approaches to conducting business; and social innovators striving to make the world a better place. Their contributions to creating the influence economy are numerous, and their story of how they achieved success creates a tapestry of insight.