The Emotion Economy
One of the most telling markers of the emotion economy is the purpose-driven brand. More than ever, consumers care about a holistic relationship with brands and businesses, especially younger consumers. They're more likely to engage with brands that are authentic, meaning the brand promises a strong point of view and delivers on it.
The Nike Case
The latest quintessential case is Nike's partnership with quarterback Colin Kaepernick, the NFL star who knelt during the National Anthem in protest of police brutality. The action spurred thousands of people to film themselves burning Nike apparel. At the same time, by featuring Kaepernick in its ad campaign, Nike appealed to the social justice mindset of a new generation of consumers — and ultimately generated around $43 million. While purging its older demographic, Nike has now ignited brand loyalty from consumers under the age of 25.
Get Into The Beat
Take the time to get to know your customers more so than ever before.