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This PSFK Guide is a community building strategy report to activating communities with added value engagements and web3, NFT and DAO tools and technologies.
Looking across products, services and experiences, consumer choice and access is constantly reaching a new pinnacle, creating an omniplatform and omnibrand shopper mindset. Across today’s expansive digital landscape, conversations around community–not just membership but active participation on behalf of consumers–is one strategy organizations are exploring as a means to not only stand out but earn long-term affinity. To build the type of community that goes beyond points systems and one-off discounted purchases, businesses are testing ideas around how to better involve consumers in the decision making process, provide more dynamic rewards and create a more equitable value exchange between consumer and retailer.
In this community building strategy report, the PSFK iQ research team explores the strategies that retailers, brands and organizations can apply to meet their members with added value, activate their communities, and ultimately drive ongoing business success.
To activate their communities, organizations are involving them from the ground up, treating fan-based chat groups and forums as sounding boards for product development and spaces to discover new opportunities to act on.
In this community building strategy report, the PSFK iQ research team explores the strategies retailers, brands and organizations can apply to meet their members with added value, activate their communities, and ultimately drive ongoing business success.
This community building strategy report provides:
This paper was developed by the same PSFK research department that since 2004 has provided trends-led innovation consulting advice to Apple, BMW, Facebook/Meta, Google, Microsoft, Samsung and Volkswagen
With the rise of DAOs or member-owned communities, the power dynamic between a consumer and their favorite brand or retailer is becoming a more equitable experience. Rather than joining a passive membership program, consumers are able to register their commitment to a brand, creator or initiative by buying into their business or supporting a piece of work via an NFT purchase. In return, these super-fans are awarded benefits within the company i.e. profit sharing and...Digital Souvenirs
Beginning first within crypto communities and now appearing across more traditional events like live sports, concerts and even brand clubs, digital tickets or POAPs (proof of attendance protocol tokens) have transformed into collectible, digital souvenirs. By purchasing a ticket or membership badge in the form of an NFT or token, audiences are not only able to signify their early interest in a particular artist, designer, community or business, but also show authenticated proof of their...Fan Focus Groups
A hyper-loyal and engaged fan base affords brands and retailers a dedicated and passionate resource for feedback on everything from existing products and upcoming launches to charitable efforts and corporate initiatives. Retailers and brands are transforming passive communities into valuable assets by inviting top-followers and fans to participate in discussions, AB testing and feedback sessions. These efforts strengthen consumer relationships but also unearth new needs and opportunities for the business to take action on.
The ecommerce giant is leveraging economies of scale through its loyalty program.Complex Networks Leverages Youthful Community For Cultural Insight
Complex Networks, the American media and entertainment company owned by BuzzFeed Inc., is tapping its unique audience as a focus group for brands.Private Dining Club Accessible Only Through NFT Purchase, Lease
Serial entrepreneur Gary Vaynerchuk is launching New York’s first NFT-based membership restaurant.