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Cryptocurrency News Articles
Meme Coins Eye Influencer Merch Playbook to Build Brand Loyalty and Enhance Community Engagement
Sep 03, 2024 at 07:05 pm
The loyal communities formed around meme coins are akin to those around influencers on social media. Can meme coin communities leverage the knowledge
In the digital realm, consumers tend to exhibit stronger loyalty toward influencers than toward traditional brands. In the past, brands relied heavily on conventional advertising methods to foster loyalty and establish an identity. However, consumers are not solely drawn to brands because of the products or services they offer and their perceived quality; rather, they are influenced by the pull exerted by influencers.
According to a report by Charle Agency, a marketing agency, marketers are increasingly choosing influencer marketing over traditional advertising, with the market currently valued at $21.1 billion. As stated by Hubspot, 25% of marketers collaborate with influencers to promote products, highlighting the growing prevalence of this practice and its entry into mainstream marketing channels. Furthermore, 69% of consumers trust recommendations made by influencers when making purchases, especially for new products and services.
'Influencer-brand loyalty' is fundamentally altering brands' marketing strategies and, in turn, shaping how consumers perceive brands. Consumers are increasingly seeking brands that align with their values, beliefs, and aspirations. Influencers are well-positioned to promote products in this manner through meticulously curated content and personas, which drives consumers to follow them. In this sense, influencers have themselves become brands, compelling consumers to purchase or try products that are endorsed by their favorite influencers.
Collectibles and virtual communities are also being impacted by influencer marketing. With the rise of social media, the world has shifted from physical collectibles to the increasing prevalence of digital collectibles. Today, influencers around the globe often release limited-edition merchandise, such as clothing, accessories, or digital assets, which their followers eagerly collect.
Consumers rush to obtain these collectibles, which provide a sense of belonging among followers as they buy into the persona and branding of the influencers who promote their products.
Meme coins emerge as the next merch frontier
Building on the similarities between influencer/follower relationships and meme coin communities, meme coins are also adopting this trend, offering a unique convergence of internet culture, community building, and an element of financial speculation. Meme coins can leverage these inherent attributes to capitalize on the surge in digital merchandising, which is sustained by the community and hype surrounding them. Since most meme coins are purely driven by their respective communities, merchandise could be the key to strengthening these communities even further.
This type of branding presents a highly engaging opportunity for community-building merchandise for both the platforms and the fans. Similar to influencers, meme coins can use merch to drive the values and beliefs of a particular community. By offering merch, meme coin platforms can tap into their community's loyalty and provide fans with a tangible way to express their support.
Case study: LADYS meme coin launches merchandising page
One such meme coin, LADYS, which nods to a popular NFT collection, is planning to optimize a merchandising strategy, offering users a collection of t-shirts, caps, hoodies, and other items.
"LADYS is not another meme coin. LADYS is a self-organized meme coin. LADYS is the drip currency. LADYS is the points for karma, charm, and beauty. LADYS is the accumulation of clout."
LADYS will be launching its official merchandise page, offering its community an opportunity to showcase their love for the meme coin, specifically targeting KOLs to amplify the presence of LADYS as a brand that the crypto community is in-tune with. The merchandise allows LADYS holders to express their support for the token and foster a sense of connection across the community.
This entry into more traditional merchandising is expected to strengthen the sense of community among LADYS holders and increase engagement across different platforms. Merchandise can also boost the authenticity of the meme coin, drawing more people into the community, where the merchandise serves as the entry point into the LADYS community.
Final words
Merchandising is rapidly expanding alongside the rise of influencer marketing. By implementing similar strategies, meme coins can tap into the power of communities and community-building culture to create a deeper connection with potential and current holders of their token. Merchandise could enhance the authenticity of the token and drive brand loyalty and long-term success.
Leveraging the power of influencer merchandising culture, meme coin communities can create a deeper connection with their fans and market themselves to new audiences, enhancing adoption.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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