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Klout Positive endorsements in exchange for product is a solid marketing strategy, especially given the price tag that comes with celebrity-endorsed tweets or Instagram promotions.

This idea of rewarding people based on their social media reach has been around for awhile.

There is a new trend in town and it’s called #socialcurrency.

It’s a concept which allows customers to connect their social media accounts and pay in-store according to their friend and fan following.

Founded in 2008, Klout is a company which invites users to connect all of their social media accounts and track their influence.

Based on their reach across various platforms, users are assigned a score (1-100).

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It allows social media influencers to exchange promotion for sizable discounts.Facebook, Twitter, Instagram, Vine, Tumblr, Pinterest, You Tube, Linked In etc.) the customer earns towards their purchase.To earn the discount, they must upload and share an image in the New York location using the store’s hashtag.The highest scores are rewarded with “perks”, exclusive rewards or product discounts. The company recently introduced a new content sharing platform which helps users boost their score and their influence.

One Piece Retail brand One Piece recently launched a first of its kind pop-up #socialcurrency shopping experience in New York City.

The Norwegian based brand which specializes in “onesies” (one piece jumpsuits) decided to leverage the power of social media.

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