Join our Waitlist for Expert Advice!

At New Marc Jacobs Concept Store, No Money Will Change Hands Does social media carry an intrinsic dollar value? At Marc Jacobs' latest pop-up store in New York, the designer is throwing money out the window entirely.

By Geoff Weiss

Opinions expressed by Entrepreneur contributors are their own.

Coty Prestige

A new Marc Jacobs shop is opening in New York -- but one in which no money will ever change hands. The designer is cashing in on social hype over physical dollars to promote his fragrance, Daisy.

Jacobs has erected a pop-up store in Manhattan this weekend that will trade exclusively in what the company is calling "social currency." This means that consumers can receive products in exchange for sharing content via Twitter, Instagram and Facebook with the hashtag #MJDaisyChain.

Transactions will take place on a "scaled system," Marc Jacobs' vice president of global marketing, Lori Singer told Entrepreneur.com, in that more creative posts will garner better swag.

Related: 6 Scents That Can Transform Your Mood and Productivity

While a basic mention will be worth a deluxe fragrance sample, for instance, the ten most inspired Instagram pictures every day will receive a Marc Jacobs handbag -- with a variety of items offered in between.

This isn't the first time that Jacobs is aiming to capitalize on a staunchly engaged online community that is hungry to share its passion for the brand on social media in creative ways. To generate buzz for a former fragrance, Dot, for instance, the brand created a #MarcTheDot hashtag for polka dot fans to express their love for the pattern.

Accordingly, the pop-up shop is "is a way to give back to that community," Singer said.

Related: HBO Hedges on Social Media to Reach 'Challenging' Demographic

Geoff Weiss

Former Staff Writer

Geoff Weiss is a former staff writer at Entrepreneur.com.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Science & Technology

Don't Wait For Disaster to Strike — These 5 Preventive Measures Can Protect Your Business From All Kinds of Risk

In a landscape where cyberattacks, regulatory fines and reputation threats loom large, proactive risk management is not just an option — it's essential for long-term success.

Business News

For Less than $50K You Can Start a BooXkeeping Franchise

A BooXkeeping franchise maximizes profitability by creating a network of small-business customers to make bookkeeping, financial data entry, reporting, and billing services as efficient and easy as possible.

Business News

You Have One Month Left to Buy a House, According to Barbara Corcoran. Here's Why.

"If you are planning on waiting a year and seeing where interest rates go, you are out of your mind," Corcoran said.

Business News

'Unfair and Unjust': JPMorgan CEO Jamie Dimon Says Federal Banking Regulations Are 'Hurting Companies'

Dimon said it is "time to fight back" against federal regulations at a conference on Monday.

Leadership

How NFL Star Quarterback Kyler Murray Shut Down Internet Trolls and Turned His Love of Gaming Into a 'Call of Duty' Partnership

The Arizona Cardinals quarterback explains how he silenced critics and teamed up with the Call of Duty Endowment program to pursue his passion.

Career

Personal Accountability Will Push You Forward and Help You Grow in Business and in Life — Here's How to Practice It

There is a startling lack of personal accountability today. Exercising personal accountability will push you forward both personally and professionally.