Social media has created a society largely driven by “meme culture” and trends. The Snapchat hotdog, for instance, has recently been seen all over most social media platforms and has in turn led to large usage statistics for the video overlay.
Viral trends make consumers want to pay and engage with the content. This interest is any entrepreneur’s dream, as trends make it easy for businesses to boost sales as much as possible and get the largest bang for their buck on campaigns.
Yet, leveraging trends is not an easy task, since it requires both standing out from existing content and fitting into the trend itself. As businesspeople continue to analyze social media usage and data on evolving consumer preferences, one of the most important skills to learn is how to identify and leverage trends.
After talking to a number of entrepreneurs, Elie Neufeld, the founder of DHTK, had the most impressive insight on building a business through trends. He owns the trademark for DHTK and related acronyms around the phrase “Don’t Hate the King,” which grew as a viral trend for Lebron James.
His ability to spot trends before they take off has led to meetings with Nike and a deal with Daymond John. Through his experiences, he has learned these crucial components of utilizing trends for business:
Improve on current trends
It is not enough to copy a trend. Thinking back to the consumer “use case” of watching content on social media, brands need to stick out from other content and win the trend, not just be a part of it. Spotting a trend lets you see an opportunity for growth, but the value is in developing content or a product that is more desirable than any other thing in the trend.
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