"Likeonomics – Influencers lend social capital to brands, helping the most HUMAN brands win." Rohit Bhargava
We’ve highlighted many 'best of' and 'worst of' for 2010. It’s time to look forward to where the trends lie for 2011. Rohit Bhargava writes on his blog, Influential Marketing, of what he feels are the top marketing trends for 2011. At the top of the list? Likeonomics. The term ‘describes how personal relationships, individual opinions, powerful storytelling and social capital are helping brands and their products or services to become more believable. Believable brands inspire word of mouth and create experiences that people can’t help sharing with others.”
In 2010, the action sportswear company Volcom, focused on reaching out to its audience with a greater emphasis on social media. The audience connected, dramatically, to say the least. By year's end, the Volcom Facebook page went from 200,000 'likes' to 1.1 million. A deeper, more human connection was developed beyond an individual looking for a t-shirt at the local mall.
Clearly this term reaches way beyond the thumb’s up sign on Facebook. Our agency's brand analysis process helps clients get to the bottom of who they are, what they do and why it matters. From here, we are able to build the brand identity based on human traits, to which the audience can relate and connect. For instance: the hero, or the outlaw, or the sage. It is this connection to the brand that helps cement a relationship between our clients and their audience. Builds loyalty and ultimately advocacy. Likeonomics. A trend for 2011? Perhaps. A novel idea, I don’t think so.
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