The Fan Multiplier Effect
Updated: May 23, 2020
The following research has been provided by MEET ITALY member, Claudio Ludovisi.
Can you imagine if you had a massive free work force out there, actively helping you grow your business? What would that be worth? Say hello to your fans. These are people who love what you do so much that they are willing to become your ambassadors and actively recommend you to others. If you are in sports, show business or fashion, you are probably used to thinking about your customers as “fans”, but if you are in consumer products, medical devices or the plumbing business may not be used to thinking about your customers this way. Yet, every time you exceed your customers’ expectations, earn their trust or simply inspire them in some way, you are creating fan and real potential for positive Word of Mouth (WOM) or “earned media” (Hint: not paid!). Personal recommendations from people we trust have always been a powerful driver of purchase decisions. What’s changed dramatically is technology, and its ability to create those personal recommendations at scale. Connected devices, database management, video versioning, and other personalization tools, all of which allow you to build a direct, continuous, two-way relationship with your fans. They in turn can give you access to new customers or entire markets that you may not even have considered! This is where both challenges and opportunities arise for businesses both small and large. Technology is evolving faster than business process is able to absorb. This is because skill sets and organizational structures evolve more slowly than innovation. In fact, even the biggest and most sophisticated marketers are still relying disproportionately on a traditional (Paid) mass media model, paired with blatant “corporate” advertising messaging that is becoming less effective, especially with younger consumers. Companies that are willing to look deeper and experiment with fan engagement at scale can gain a real competitive advantage. The task here goes well beyond improving marketing process. Raising your game in fan engagement involves the coordination of multiple touch points, not just ones controlled by the CMO. That kind of coordination is nothing short of transformative for the entire organization. It is a cross-functional endeavor which requires buy-in from the top and an infusion of purpose into the organization’s culture. It can inspire everyone in the company who directly or indirectly to elevate the customer’s experience. That’s ultimately what converts a target prospect or a simple consumer into an enthusiastic and loyal fan who can help you grow your business and create a powerful “fan multiplier effect”.
REACHING FOR COMPETITIVE ADVANTAGE
1) Is your fan database big and robust enough for you to dial down on paid media?
2) Are your digital videos so compelling that if you received one on your phone, you would stop what you are doing pass it on to your friends?
3) Are you measuring your “net promoter score” consistently on your digital campaigns? Is it displayed on a live dashboard and shared across functions?
4) Is your content designed to collect fan registrations and grow your database?
5) Are you engaging everyone in your organization who can impact a potential fan’s journey?
For specific examples and expanded discussion on fan engagement, please contact Claudio Ludovisi:
The Fan Multiplier Effect - Claudio Ludovisi 310 892-3086
About Claudio Ludovisi
Mr. Ludovisi is an accomplished strategy and marketing executive with 20+ years of experience in senior roles at Disney ABC Television Group, NBC Universal, IMAX, Amgen, Warner Bros and IMAX. His background is in management consulting (Booz Allen & Hamilton) and advertising (Saatchi & Saatchi on P&G Brands). Claudio holds an MBA from Kellogg and a BA in Economics from U.C.L.A. and a frequent keynote speaker on strategic planning and fan engagement