How to Boost Engagement by 73% for Outlier Fashion Brand?
"In the ever-evolving realm of fashion, standing out is more than just a goal; it's a necessity. At Terra Ferra, as an influencer marketing agency specializing in fashion collaborations, including co-creation, we face a myriad of insights and challenges daily. We're eager to share our experiences with outlier designers who truly bring something fresh, novel, and captivating to the fashion world. Such innovation deserves support and recognition." - Maxim Nogotkov, CEO of Terra Ferra.
The landscape of digital marketing has witnessed a seismic shift in recent years. The cost of influencer marketing has surged by 50% over the past three years, and Instagram’s paid advertising rates have seen a 65% hike. While these methods can yield results, they also significantly inflate marketing budgets. However, there’s a silver lining: co-creation. By engaging both your audience and influencers in co-creation, brands can not only foster authentic engagement but also optimize marketing expenditures.
1. What is Co-creation?
Co-creation is a collaborative process where brands and consumers come together to create products. Instead of brands dictating the market, they engage their audience in the design process.
2. Why is Co-creation the Future for Outlier Brands?
- Authentic Engagement: 73% of consumers prefer brands that personalize shopping experiences. By involving followers in design, brands foster deeper connections.
- Unique Designs: Co-creation ensures designs are tailored to audience desires. This is crucial for outlier brands that thrive on distinctiveness.
- Increased Loyalty: Studies show that consumers involved in product creation are 60% more likely to purchase and promote the brand.
3. Steps to Engage Followers in Your Designs:
- Open Platforms for Ideas: Brands like LEGO have used platforms like LEGO Ideas, where fans submit and vote on new set ideas. This approach can be adapted for fashion.
- Workshops and Events: Nike, with its NIKEiD platform, allows consumers to design their own sneakers. Hosting events where followers can meet designers can further this engagement.
- Feedback Loops: ASOS, a leading fashion brand, regularly seeks feedback on prototypes, ensuring their audience gets what they want.
- Acknowledge and Reward: Recognize contributions. For instance, Threadless, a T-shirt company, rewards designers with cash prizes for chosen designs.
4. Success Stories:
Adidas, in 2017, sold over 1 million pairs of shoes made from ocean plastic, a concept co-created with their community. Another brand, Betabrand, sources design ideas from its community, with some designs getting funded in less than 24 hours due to high demand.
5. Challenges and Overcoming Them:
While co-creation offers numerous benefits, it’s not without challenges. A study showed that 45% of brands fear losing control over their identity. The key is to strike a balance. Set clear guidelines, maintain brand consistency, but genuinely value follower input.
6. Understand Your Audience: The First Step to Co-creation
Before diving into co-creation, it’s imperative to have a deep understanding of your audience. Knowing their preferences, behaviors, and demographics can shape the direction of your co-creation efforts. We offer a comprehensive 22-page report on your Instagram account, detailing all available information about your target audience. And the best part? This data-driven report is provided absolutely free of charge, ensuring that your co-creation campaign resonates with the right people.
In conclusion, for outlier fashion brands looking to make a mark, co-creation is not just a trend but a necessity. By turning followers into co-creators, brands can unlock unparalleled success, ensuring that they remain at the forefront of the fashion revolution. Embrace co-creation, and let your brand’s unique voice be amplified by those who love it the most – your followers.