Trends Behind The Evolution Of Brandconsumer Consensus
Monday, 12 December 2022, 18:20 IST
Consumers’ relationships with brands are very similar to their relationships with people. It evolves with genuine care, understanding, and loyalty. Well, marketing is a dynamic world where trends keep changing following public interest, advanced technology and new strategies. For a perfect brand-consumer relationship, brands need to be updated with the pace and stay headed.
Social media has played a vital role in building the relationship. Social media-based relationships lead to desired outcomes such as customer satisfaction, recommendations, and loyalty. The brand-related social media have a greater emotional attachment with the brands, are more likely to humanize the brands (known as anthropomorphism), have higher quality brand relationships, and are more satisfied with, willing to recommend, and loyal to the brands.
Preetha Athrey, Director and Global Business Marketing of Twitter APAC, stated, "People on Twitter are influential, receptive, and drive results unlike anywhere else, and Tweets give us signs where the culture is headed or what could be the next big Ah! movements that are shaped by public conversation. Twitter, as a driver of both trends and real-world change, has grown as a service that not only provides people a space to connect but a window into the culture. The Twitter Trends Report catches the themes and interests that are shaping consumer behavior in the Indian market, and outlines top trends for brands to lean into to become a part of conversations that are happening right now, and will continue to grow."
Well, let’s take a closer look at the interesting three trends:
Finance Goes Social: When it comes to money matters, it used to be a closely held secret of the few. Though now, it has changed, and everyone wants in on the action. People are interested in discussing and diving deeper into finance-related conversations. It has gone up by 62 per cent. Communities of experts and everyday people are joining forces to share knowledge, sparking a 185 per cent increase in financial literacy discussions. Conversations about money have evolved, and concepts like decentralized finance (hello, crypto!) and digital assets have entered pop culture, with NFT + Bollywood, Bollycoin, and Beyond Life emerging as topics to watch out for.
Fan-built Worlds:Fans are doing much more than just follow; they're now calling the shots. As fan clubs take charge of the conversation to create worlds they want to be a part of, discussions around fandom have increased by 47 per cent. People are taking ownership of passions like #CricketTwitter (+55 per cent), building complex worlds like #DCFanDome (+35 percent), and engaging with diverse entertainment conversations like Kollywood (+14) as they converge on Twitter to find their tribe.
Entrepreneurship Hits Peak Culture: Nowadays, India is the third largest unicorn ecosystem in the world, and enthusiasts are taking to Twitter to discuss all things startups. #StartUpTwitter is growing, and there's been a 22 per cent increase in discussions around entrepreneurship. Founders are creating personal brands, while popular references like #SharkTankIndiaMemes and #PeakBengaluru add humour and fun to the conversation. What's inspiring is to notice a 40 per cent addition in women joining the discussion, with the talk around female entrepreneurship going up by a whopping 269 percent an evident indicator of the bridging gender gap in the workforce.
Consumers are increasingly spending most of their time on the internet. At work, at home, and on mobile, they have continual opportunities to connect with people, organizations, and brands. Social media platforms are appearing as a dominant digital communication channel via which consumers learn about, share information, and interact with brands they consider, purchase, and evaluate. In the coming months, these trends will explain how brandconsumer relationships evolve, introducing new paths that brands will have to navigate to contact consumers where they are on Twitter or any other social media.
Social media has played a vital role in building the relationship. Social media-based relationships lead to desired outcomes such as customer satisfaction, recommendations, and loyalty. The brand-related social media have a greater emotional attachment with the brands, are more likely to humanize the brands (known as anthropomorphism), have higher quality brand relationships, and are more satisfied with, willing to recommend, and loyal to the brands.
Preetha Athrey, Director and Global Business Marketing of Twitter APAC, stated, "People on Twitter are influential, receptive, and drive results unlike anywhere else, and Tweets give us signs where the culture is headed or what could be the next big Ah! movements that are shaped by public conversation. Twitter, as a driver of both trends and real-world change, has grown as a service that not only provides people a space to connect but a window into the culture. The Twitter Trends Report catches the themes and interests that are shaping consumer behavior in the Indian market, and outlines top trends for brands to lean into to become a part of conversations that are happening right now, and will continue to grow."
Twitter has analyzed billions of Tweets from Jan 2020 - Dec 2021 and published the 2022 Twitter Trends India report
Well, let’s take a closer look at the interesting three trends:
Finance Goes Social: When it comes to money matters, it used to be a closely held secret of the few. Though now, it has changed, and everyone wants in on the action. People are interested in discussing and diving deeper into finance-related conversations. It has gone up by 62 per cent. Communities of experts and everyday people are joining forces to share knowledge, sparking a 185 per cent increase in financial literacy discussions. Conversations about money have evolved, and concepts like decentralized finance (hello, crypto!) and digital assets have entered pop culture, with NFT + Bollywood, Bollycoin, and Beyond Life emerging as topics to watch out for.
Fan-built Worlds:Fans are doing much more than just follow; they're now calling the shots. As fan clubs take charge of the conversation to create worlds they want to be a part of, discussions around fandom have increased by 47 per cent. People are taking ownership of passions like #CricketTwitter (+55 per cent), building complex worlds like #DCFanDome (+35 percent), and engaging with diverse entertainment conversations like Kollywood (+14) as they converge on Twitter to find their tribe.
Entrepreneurship Hits Peak Culture: Nowadays, India is the third largest unicorn ecosystem in the world, and enthusiasts are taking to Twitter to discuss all things startups. #StartUpTwitter is growing, and there's been a 22 per cent increase in discussions around entrepreneurship. Founders are creating personal brands, while popular references like #SharkTankIndiaMemes and #PeakBengaluru add humour and fun to the conversation. What's inspiring is to notice a 40 per cent addition in women joining the discussion, with the talk around female entrepreneurship going up by a whopping 269 percent an evident indicator of the bridging gender gap in the workforce.
Consumers are increasingly spending most of their time on the internet. At work, at home, and on mobile, they have continual opportunities to connect with people, organizations, and brands. Social media platforms are appearing as a dominant digital communication channel via which consumers learn about, share information, and interact with brands they consider, purchase, and evaluate. In the coming months, these trends will explain how brandconsumer relationships evolve, introducing new paths that brands will have to navigate to contact consumers where they are on Twitter or any other social media.
