【Competitive Analysis】Fan Economy - Another Marketing Opportunity Pops up in China
Updated: Jul 24
People put thick clothes aside every time spring and summer are coming, revealing their wrists and necks. What’s more, holidays and big events are coming wave after wave, like “520” and “618”, and these have become the main keywords of brand topics in 2021. It is therefore a good time for jewelry brands to launch new products.
It is worth noting that most of the spokespersons invited by brands this year are very renowned celebrities with huge fan bases:
Chopard announced Zhu Yilong as their ambassador on April 7.
SWAROVSKI announced the cooperation with Wang Yibo on February 25.
Forevermark invited male artists such as Xiong Ziqi and Chen Zheyuan to participate in the promotion of the new series.
In this analysis, the Fans-of-Economic marketing strategies of these three brands are included to see how their tactics succeeded.
[Hit the spot during summer, spring, and any other peak seasons]
People cover their bodies to keep themselves warm during autumn and winter and there are therefore not a lot of body parts available for decorations. By contrast, summer does create more favorable conditions for the marketing of jewelry brands.
However, in the market, there are a lot of popular accessories ranging from items of dozens of yuan to high-end luxury items. How can a jewelry brand gain more audiences and gain sales than its competitors? How to break into the young consumer groups? How to build a stronger affinity between the target customers and the brand itself?
In order to gain a place in the market and catch up with the summer period, this year brands invited top celebrities for promotions as witnesses to the boom of Fans of Economic
[The New Era of View Count]
As early as more than ten years ago, some brands tried to expand the market by using famous national celebrities: Jay Chou endorsed Youlemei and the phrase "你是我的优乐美" became the buzzword at the time; the spokesperson Wang Leehom was almost tied with the three words “哇哈哈”.
That a typical positive brand invites celebrities as endorsers can bring a win-win situation. The audience not only learns about the brands through idols but the strength and resources of the brands themselves can also benefit the idols, allowing more people to recognize the positive values of the idols.
On February 25, 2021, the official announcement of SWAROVSKI cooperating with Wang Yibo received 3.4w of likes and 1.4w of reposts once it was published. The volume of topics has increased significantly. The support of fans is not only reflected in the post-performance data, but the offline and online sales of Swarovski have also continued to rise.
In order to attract more young female consumers and take advantage of the fan effect, Chopard and Eternal Mark also invited high-profile male stars as spokespersons to gain benefits while enhancing buyer loyalty.
[Inspiration from the fans of economics]
Fan economy generally refers to the business revenue-generating behavior based on the relationship between fans and followers and, also known as the economic activity that increases the value of followers b paying for emotions by a large number of fans.
In the face of the commercial value of top celebrities that cannot be ignored, the question of how to make use of it to achieve the synergy effect has become the top priority of celebrity marketing.
Only with a deep understanding of the psychological needs of users can we find the spokesperson who is most in line with the core of the brand in the ocean, so as to realize the deep binding of celebrity characteristics and brand value, and maximize the appeal of celebrities.