9 Ways Memes Can Change Your Business – Entrepreneur

by | Oct 10, 2022 | Business

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The so-called “creator economy” spans a hugely diverse field with products including dance videos on TikTok, crocheted doilies on Etsy and eye-popping memes on iFunny. It is becoming a formidable force. In 2021 alone, the creator economy raised a record $1.3 billion in funding, underscoring the investment community’s vote of confidence in its future. Fast forward to 2022, and memes are clearly no longer just for laughs.The sector’s trailblazers — behemoths like Meta and more specialized entertainment tech players like FunCorp, whose team I was privileged to join in 2021 — were fortunate to be at the forefront of many industry changes, including the explosion of memes into pop culture.Related: The Secret to Building Brand Devotion is Not a Loyalty Program. Here’s What Customer’s Really Want.Innovative players across industries are harnessing their power to build communities and inspire strong sentiment around their brand for the benefit of the business. Here are some exciting new ways in which memes can help you achieve your strategic objectives, both as they relate to your customers and your teams:Reach a younger audience. Memes don’t have a target age, but if you are keen to grab a larger part of the younger demographic, they might be the most effective medium of short-form communication. Approximately 54% of Gen-Zs, 41% of Millennials, and 21% of Gen-Xers look for new memes every day, according to GlobalWebIndex data, while 75% of users aged 13-36 regularly share memes. Considering these stats, using memes to help your corporate messages reach younger customers and potential partners seems like a no-brainer.Mount a low-cost marketing campaign. When done right, a meme that takes a limited budget to create can leverage the power of social media to go viral, which means your meme marketing campaign has the potential to go viral as well. Companies across sectors, from grocery delivery players to luxury retailers, are already using this to their advantage, with Gucci’s meme-based ad campaign “#TFWGucci” (“That Feeling When Gucci”) representing one of the company’s highest engaging ad campaign, generating over 21,000 comments and 2 million likes. Apps like Yepp have built-in editing tools that simplify meme creation, even for a …

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