Top Brand Communities of 2024: Key Insights for Your Success

Arena Weekly Digest brings you news and insights in media, e-commerce, and innovation!

Let's jump right in and make the most of this week together!

?? Calendar & Opportunities

Here are some of the exciting upcoming events that will catch the attention of your community over the next few weeks:

• The U.S. Presidential Election takes place tomorrow, November 5. It's important to remember that the election results will not be determined immediately; several media and news publishers will cover the unfolding developments over the next few days. As the world watches, the outcome will shape the nation's future and significantly affect global politics, economic policies, and international relations.
• The holiday shopping season is almost here! Mark your calendars for Black Friday on November 29 and Cyber Monday on December 2. Now is the perfect time to prepare your team and platform for the anticipated surge in website traffic, sales, and customer support requests.

> How to Use AI to Outpace Competitors this Cyber Monday

?? Numbers to Watch

* Early last week, several of the world's largest tech companies, including three cloud market leaders, released quarterly earnings.?

* Google, Microsoft, and Amazon collectively generate nearly a quarter of a trillion dollars annually from their cloud divisions while growing at an impressive rate of 25% each year.

* Since it became clear that generative AI would significantly boost cloud service growth—given that supporting AI chatbots requires cloud infrastructure—Microsoft, Google, and Amazon have escalated their battle for dominance:

• Google Cloud by Alphabet: Annualized revenue is projected at $45 billion, marking a 35% increase from the previous year. In this quarter alone, Google Cloud contributed $11.4 billion to the total revenue.
• Microsoft Azure: Annualized revenue projected at $66 billion, growing 34% year-over-year. This quarter, Azure added $28.5 billion to Microsoft’s total revenue.
• Amazon Web Services (AWS): Annualized revenue is projected at $110 billion, up 19% from the prior year. AWS contributed $27.5 billion to Amazon’s total revenue this quarter.

To sustain an industry growth rate of around 25%, which could allow big tech companies to double their cloud revenue in the next 3 years, capital expenditures (CapEx) are also reaching historic highs, expected to hit $149 billion this year and $163 billion next year.

> How AI Chatbots can Improve User Experience

??? Tips and Tricks

Online brand communities are dynamic spaces where people connect over shared interests over a brand's products, values, and experiences. Beloved brands tend to have loyal customers who interact with and help grow communities organically.

Here are 7 brand communities you should be watching and learning from:

1. Lego Ideas
2. Airbnb Host Communities
3. Apple Support Community
4. Harley-Davidson
5. Gymshark
6. GoPro
7. Red Bull

Want to learn how these brands grow engagement with their online communities??

> Top 7 Online Brand Communities of 2024-2025

?? In Case You Missed It

The beauty of online communities is that one differs from the other, and none are the same!

There are many reasons why brands wish to build their online communities, from promoting brand-sponsored events and experiences to influencer-led initiatives. And, of course, you can combine one or more of these brand community types to strengthen your marketing efforts.?

> Learn more about 5 types of brand communities that enhance customer loyalty.