Futureproof 2023, Part 2: Subcultures and the Rise of Live
This series focuses on four shifts in digital culture that make 2023 a foundational year for the evolution of social, web3, and e-commerce. In part one we explored how NFTs are evolving to become loyalty drivers and how the mass adoption of AI is creating opportunities for brands to boost efficiencies and achieve customer intimacy at scale.
In part two below, we share how subcultures are shifting social media narratives, why live-streaming is poised for mass adoption, and how both are opportunities for brands to boost relevance and deepen loyalty.
Subcultures fuel social engagement
The shift from the social graph (who you follow) to the interest graph (what your passions are) has been driven in large part by TikTok. The reason we spend more time there than any other app (and the reason why every other app looks like TikTok) is that it’s built to show us more of what we love. This means brands need to post content that their customers are passionate about. The problem? Most have no idea what that is.
To succeed in 2023, brands need to understand their customers beyond demographics and through the lens of subcultures. This customer-centric, bottom-up approach mitigates risk and gives brands an effective way to engage consumers with hyper-relevant content. Gucci did this effectively on TikTok by tapping into the #TrainTok subculture (327.7 million views) and the train-centric creator Francis Bourgeois with 2.7 million followers. The brand featured Francis in a TikTok video for their Northface collaboration, to great effect generating over 3 million views with strong engagement – 545k likes, 5397 comments, 9,502 saves, and 16.1k shares.
Similarly, Burberry connected with the popular toy subculture #Sylvanianfamiles(338 million TikTok views) by working with creator @SylvanianDrama (2.1 million followers) to develop a series of Sylvanian-related TikToks. The videos are centered around their Lola bag and exude Gen Z's nihilistic sense of humor. By reverse-engineering the content creation process around something Gen Z already loves, Burberry broke through in a way simply not possible with a more commercial product post.
Rise of Live
Avid users of TikTok may have noticed a shift in their feed recently - more live-streamed videos. What does that mean for brands? An opportunity to connect with consumers in a deeper, more engaging way beyond short-form video. To gauge the growth potential of live-streaming on TikTok, just follow the money. In the last two years, TikTok's online ad revenue has grown by 500%, while its live-streaming revenue has increased by 900%.
Of users who watch live-stream videos on TikTok, 62% watch them every day, giving brands a consistent new channel to tap into. The revenue side shows potential with 50% of TikTok users having bought something after watching a live stream. The kind of live content that performs best for brands? How-to videos, product releases, and in-depth reviews - content that most brands are already experienced in creating. At a maximum of 60 minutes, livestreams also last longer than a 15-second TikTok, giving brands an opportunity to connect through conversations instead of "communications."
While brands like Walmart and e.l.f. Cosmetics have experimented with TikTok Live, most livestreams are from creators across a range of categories like bingo, cooking, and DJing, to small businesses selling everything from dog clothes to polished stones. It’s a surprisingly engaging experience where you can chat in the comments and engage freely with the host. Some livestreams are combining two of Gen Z's favorite things (gaming and shopping), in compelling ways. Chipotle for example, selected people who commented “Freepotle” on the brand’s TikTok and Instagram Live feeds and gave them a chance to win free Chipotle for a year with a spin of the Freepotle Prize Wheel.
The shift to subcultures and the rise of livestreaming can mean more meaningful moments between brands and consumers, especially younger consumers. Future-focused marketers that leverage these shifts in 2023 only serve to reap the rewards going forward. As digital becomes even more integrated into our daily lives, brands that create content and experiences around what we love most are in the best position to deepen loyalty and drive growth in ways that transcend technology.