The terms cult following or cult classic are used frequently to describe innovators of products, brands or companies that have developed a faithful, dedicated and passionate fanbase. These cult innovators unique brand identity builds a loyal fanbase that exhibits brand loyalty by purchasing the companies current and future products while discounting competitors moves in the market.
Companies such as Apple are a prime example of an innovative tech company with a cult following producing luxury tech products and services. With multiple annual announcements on product developments and releases, early adopters lineup outside stores awaiting the opportunity to be one first to showcase the lastest offerings often by creating product unboxing videos, published articles in tech forums and blogs.
Competitors will race to reverse engineer the products in an attempt to develop similar products often purchased by the early majority and late majority.
With the innovators making up 2.5% of the market, early adaptors 13.5%, early majority at 34%, late majority at 34% and the laggards taking up the remaining 16% it’s essential for cult brands products to live the entire lifecycle.
So Why Join the Cult?
- The products just work
- Product support and updates even after product EOL
- High Resale Value
- Market Dominance
Cults followings are created by users of great products. Who’s best in action cams? GoPro and why? They work, they work well, they are supported, maintain a resale value and dominate the market.
Need proof ask the likes of Casey Neistat.
Casey is an innovator and a brand influencer. Does that mean you send Casey a product and you’ll receive instant sales? Well yes if your products work. If they don’t…. Not a wise idea.
Cult following? You bet your yoga toned ass. Not a question Lululemon has placed a severe dent into the world of Technical Athletic Clothing. And just to be clear since 2017 in Men’s clothing as well. Marketing to brand influencers like yoga instructors and gym trainers, Lululemon has a cult following that fills a healthy share of the.. wellness/ health/ fitness clothing market. And for men there are active offerings including the Warpstreme active dress pants.
With a high concentration on a quality product and/or service, not discounting products, ensuring the entire product chain from design, marketing, sales and service is of uniform importance brands can obtain cult followings.
Deeply discounted goods, deceptive sales tactics and poor customer service or experiences are the demise of a brand and subsequently the possibility of achieving cult status.