Opinion formers are cashing in

Katie’s last post about flash sales and then Matt’s subsequent comment about affiliates got me thinking. When planning social media communications we spend a lot time mapping online communities and identifying influencers and opinion formers on stuff like fashion and music. When will these opinion formers realise the huge power they have over consumers and brands and start to cash in? And I mean really cash in; over and above the freebies, PR, kudos and respect they exchange for their endorsement in a blog, tweet or forum.

Well some have started to. Some really cool (and very bright) street fashion enthusiasts have set up Hypebeast. A site aimed at people who crave and rely upon the opinions of much cooler people than themselves to tell them what they should be wearing – what’s in and what’s out. Hyperbeast consists of a network of very cool and very well respected guys and girls who are out and about on the streets of New York. When they come across someone or something on da street that they like they take a photo and blog about it. Hyperbeast are using social media platforms to keep up with the pace of street fashion, providing up to the second tweets on the latest trends – vital for avoiding embarrassing situations such as turning up to a BBQ in a pair of Kanye West sunnies (so last month).

Well there’s nothing special about that you may think. This is just the way the social web has moved the game on, monthly lifestyle and fashion magazines are dying because people demand more immediate and up to date information and opinions from cool people. But the clever bit is that these guys are affiliates. They make a cut on the products they recommend.

Very smart.