Hack The Algorithm and Push Your Brand’s Marketing To The Next Level.
The last year has changed all of our lives. Changed the way we work, live, love and laugh. A code red for the global marketing and brand departments. Although all studies show that in times of crisis it is the most counterproductive thing you can do as a brand, almost all brands have massively cut their marketing budgets, sometimes down to zero. This has already had demonstrable consequences for brand health. Loyalty to household names brand has massively decreased during the crisis. A majority of 61% of US consumers are willing to switch to independent brands. However, after a short period of licking wounds, a few companies have managed to make perfect use of the digital possibilities and to disrupt entire business ideas with new approaches.
This is a serious wake up call. Disrupt yourself. Stop the autopilot, break your habits and rethink marketing.
Time for pioneers.
When businesses stay closed, it drives the ever-faster pace of digitization even further. Would you spend 11.99USD on shoes you’ll never be able to wear? Sound funny? NTF makes it possible. Non-functional tokens could be the new revenue stream for the luxury, lifestyle and entertainment industry. New digital status symbols. And that the trust and demand for digital products has increased massively is clearly shown by the hype on crypto. Within a year, bitcoin has risen by more than 700%. NFT’s could become the new goldmine. Brands like Gucci, Louis Vuitton and Marc Jacobs are turning pret-a-porter into net-a-porter. They are using NTFs to outfit game characters in esports with branded clothing. An industry with a market potential of 1.1 billion dollars per year. Musicians like Linday Lohan have also jumped on the bandwagon. Her single “Lullaby” was released as an NFT only. And at Christies, a JPG file by artist Mike “Beeple” Winkelmann was sold for $69 million. It’s only a matter of time before movies, music, art, fashion or status symbols are sold exclusively via blockchain-based NFTs. Every brand should be looking at this right NOW.
The Power of Now – Hack the Algorithm.
Mobile is the number one when it comes to media usage. Mobile market share has increased by 222% in the last five years and will quadruple by 2025, also thanks to 5G! The average person will spend 100 minutes every day watching online videos in 2021. Video generates 1200% more shares than images or text. The only thing more successful than video is LIVE video.
Live video streaming pushes your marketing to the next level. You hack the algorithm because all social platforms prioritize live content in their newsfeeds. You should take advantage of this attention. Facebook Live videos, get six times more interactions and on average live videos are watched twice as long as classic feed videos. Start streaming and give your videos the reach they truly deserve.
Thanks to Instagram, Facebook, YouTube & Co, any brand can become a broadcaster. For platforms like Twitch and YouNow, live streaming is in the DNA of the business model.
While we’re at it, how is your live video strategy?
The Watermelon Explosion, for example, proves how successful live streaming works, BuzzFeed reached 11 million views with it, Royal Caribbean entered completely new territory with creative OOH live streaming with #ComeSeekLive and luxury brands like Cartier or Ralph Lauren also recognize the hype and use live broadcasts as a secret weapon. While Ralph Lauren with “Once upon a time, we gathered” staged his latest collection in a live Hollywood-like movie, Cartier’s invited to an exclusive Invitation-only private broadcast event, Each participant got a unique invitation code to attend the exclusive show. Guests were asked not to share anything online publicly regarding the hour-long live video.
Live Video allows everything that traditional video allows, shows, talk, games, shopping, but most importantly, Live Video allows mistakes. Not everything has to be perfect. Live Video also lives from the charm of authenticity. This does not mean that you just turn on the camera and go. The keyword is prepare & practice.
Create recurring and different kinds of live video formats, establish fixed times and faces. Surprise your viewers with different actions, exclusive access or insights, vouchers that can only be obtained in the live stream, that rewards the viewer, strengthens the loyalty, ensures exclusivity and curiosity for the next time. Think about a rough roadmap, plan the content, always have a common thread, but don’t make the mistake of memorizing moderations or texts, which is exactly the opposite of what makes LIVE video so popular with viewers. Live video is authentic, dynamic, engaging and a bit thrilling. Welcome to the golden age of live video!
Build your brand universe.
Extraordinary times require extraordinary measures and thus something completely new is created. Milka and Oreo, AirBnB & LEGO, Starbucks and Spotify, or most recently Gucci and Balenciaga: co-branding is the first step into a new platform era.
Brands must become cooperative platforms, only then can the market continue to grow. Because there is a threat of stagnation of the own brand story. But with more courage, the opportunity for brand metamorphosis beckons.
Cooperation with the right partner can lead to mutually vitalizing contamination.
The advantage is obvious: as platforms, the partners reach a broader audience, new target groups, plenty of social/marketing buzz is generated, and beyond that, all partners have the chance to diversify and increase value creation as well as improve brand perception.
It will also be necessary for leading global brands, regardless of industry, to become more and more of a platform. Bringing together idea, values, reach, relevance and capabilities. It’s obvious, for example, that Saint Laurent has entered into a cooperation with Bang & Olufsen. People who wear modern, high-end fashion will also be discerning when it comes to enjoying media.
Co-branding helps create distinctive new products by merging complementary brands, while co-marketing refers to the combined marketing efforts. A great example of co-marketing is the Uber and Spotify campaigns. Imagination and lateral thinking are the keys to success here. And the fact that it works is proven by the fact that some co-branding is almost inseparable these days. Cue Apple Watch Nike+ or Louis Vuitton x Supreme.
So far, this is often still the exception, but in the future, it can only lead to more diversity and innovation.
The future is now!