How Fandom Can Support Your Global Marketing Strategy
Fandom is not a new word, but people talk about it more often than ever before. Be it music or sports, the world has experienced how powerful fans’ hearts can be—not only in entertainment but also for corporate and personal branding. That’s because fans want to learn as much as possible about the things they love, talk to others who share their passions and spend money to own some part of it. These tendencies have given rise to the fandom business—and made it a key aspect of the global economy. More brands are starting to see the value of the fandom business because it enables you to connect more closely with fans and nurture a brand community.
Why Your Marketing Strategy Should Consider Fandom
If you don’t know where your fans gather or how they engage with your brand, it can be hard to see the value of the fandom business. As a global marketing executive in the fandom business, here’s why I think you should place fandom at the heart of your marketing strategy—and what steps you can follow to make it possible for your brand.
Fandom is universal
Great art travels far. After all, almost a third of the content on Netflix is in a language other than English. So too will your brand have fans in the farthest of places. No matter how niche your field is, your content will likely resonate with people no matter where they are. Sure, having a localization strategy for how to translate and adapt your content to new markets is useful because not everyone speaks your language. But the feelings and passion that arise from art and storytelling are universal. Find out how to leverage that universality, and you can grow your brand to new heights.
Community engagement is the key to growth
Brand community is the next big thing. Technological advancements have reduced the distance between brands and consumers—but also made it easier for consumers to develop social relationships among themselves. These forms of engagement can take many forms, from sharing resources with each other to discussing the latest content, but ultimately this sense of belonging translates to heightened brand loyalty, advocacy and trust. As Web3 continues to transform the ways people interact with each other and share ideas online, this phenomenon will reach new heights in the coming years.
Building authentic fan relationships helps free you from the algorithm
Existing platforms are saturated with content. As we can now count more than 300 million creators on a global scale, it takes a lot to stand out, especially when the algorithm seems to decide on a whim whether your content is worth being distributed. It is also hard to tell whether the people who follow you are genuine fans, especially if you lack access to data. Focusing your content direction and strategy on super fans means you can build authentic, long-lasting relationships and a more powerful brand.
Here are four steps to build a fandom for your brand
Building value in the current fandom ecosystem means we need to give more freedom and flexibility to brands like yours to run the show. These are the steps you can follow to build a fandom for your own brand.
1. Consider a solution that gives you ownership of the platform and data.
If Instagram or YouTube shuts down tomorrow, so do your following, data and the ability to monetize your work. That won’t happen if you can consolidate all aspects of your fandom business into an owned channel, with all the features you need to increase fan engagement in one place. (Full disclosure: My company has developed an all-in-one fandom business-builder that does just that.) If you can build your own platform where you own 100% of the data, including content and customer insights, you can stay in control and minimize future risks.
2. Gather your fans from existing social media platforms in one place.
Your brand is probably on more social media channels than you can count on one hand. By all means, these platforms are a great way to interact with the public—you should take advantage of that reach for all it’s worth. But to nurture your fans into super fans, it’s better to have a more focused solution that increases engagement through direct and authentic relationship-building. What if you could upload content, sell products and communicate with fans—and be sure that the people on the other side are genuinely interested in every word you have to say?
3. Provide exclusive products and content that only the core fans can access.
Fan engagement is the most important factor when it comes to building a fandom. The easiest way to get there is to let your fans have their say. If you build your business by listening to your core fans and understanding their needs, you can tailor your content to them. By having fans participate in and influence your brand in their own way, you can help them feel more special and valued. As mentioned earlier, fans tend to want to own some part of what they love—and giving them this influence provides them with a new level of ownership that heightens their engagement with your brand.
4. Revisit your data and tailor your business strategy.
Currently, your data may be scattered across different platforms, which can make it difficult to truly understand your fans’ buyer journeys and behavior. By reviewing all of your data in one place, you can make informed decisions that make sense for your business. See what’s working for you and tailor your marketing strategy accordingly—and stop wasting limited budgets on what doesn’t work.
Everyone benefits when brands focus their resources on more productive ways to understand their audiences and generate tangible returns on their investment. By following these steps, you could have a powerful way to leverage the power of fandom online for businesses of the new generation.
This article is a Korean translation of Forbes articles by bemyfriends Hanna Park, CMO, a member of Forbes Communications Council. (Original text)
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