Building "Brand Tribes" in a Shifting Economic Landscape
It’s no secret that during the current coronavirus pandemic, the economy has changed, and quite dramatically. And because of the times we’re all finding ourselves in, building brand tribes has never been more important for both brands and influencers.
Although it has been a part of the advertising world for quite some time, the term “brand tribes” is still relatively new. But what exactly is a brand tribe? Essentially, a tribe is a group of people who share the same values, beliefs, and ethos as a brand or product. And now, influencers have the ability to truly connect with their audience, meaning they are a great way for brands to create their very own tribe.
Tribes aren’t just consumers of a product or brand. They have much more involvement in its promotion, creating a working relationship between brands, influencers, and audiences.
There are many ways for brands to create tribes, which are something we’re going to be seeing more of. Brands tribes also become a natural testimonial for the brand, which is priceless.
Now that many social media influencers are becoming their own brands, they too have developed tribes, which is something we also are seeing much more of. These are often seen in the form of virtual book clubs and members-only Facebook groups.
Brands and influencers alike have taken to social media and their tribes to create user-generated content. Asking consumers and audiences directly what they would like to see, or more importantly wouldn’t like to see, creates an opportunity for them to be involved.
A shift in the economy
With the ongoing changes in the economy, it is crucial for brands and influencers to ask their consumers what they want to see. Circumstances have changed for almost everyone recently, some for the better, but also for the worse. And with this, content and collaborations need to change too.
Brands and influencers must adapt to current times and the changing needs of their audience and consumers, especially financially. Consumers today are much more thoughtful about their purchasing decisions and where their money goes. This is exactly why long-term partnerships between brands and influencers are so important: they create a sense of trust, authenticity, and a connection that may not have been formed otherwise.
The beauty with long-term collaborations and partnerships is that consumers begin to associate an influencer with a brand, and vice versa. The two begin to go hand in hand and become a pivotal part of the influencer marketing industry.
The rise of “revenge purchasing”
The coronavirus pandemic has seen a drastic shift in the economy and has led to the rise of what is referred to as revenge purchasing. With so many being ordered to stay home, and with so many retailers having to temporarily shut up shop, many consumers are left with a desire to make up for lost time.
However, with the current lack of social interaction and the limitations on daily activities, consumers are turning to online shopping to add a hint of excitement, personalization, and normality to their lives.
Consumers are looking to spend their hard-earned cash on brands and products that resonate with them, sharing the same values and ethics. Not only that, consumers are no longer simply seeking a products or service, but an entire experience to go with it — from browsing websites or queueing in stores right through to purchase and delivery.
For many, the meaning of luxury has changed, and revenge purchasing is a trend I think will be around for the foreseeable in some way or another. The relationships between brands and influencers will have a huge part to play in this.
People’s lives have changed. Their needs are different, and so are their buying habits.
Amelia Neate is Senior Manager at Influencer Matchmaker, a U.K. firm that specializes in matching brands with top social media influencers and celebrities.
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