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The speed of the boss is the speed of the team.Lee Iacocca

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Fanocracy

Fanocracy

How the relations that "fans" maintain with sports and entertainment celebrities can be transposed to the business word.

Author(s): David Meerman Scott, Reiko Scott

Publisher: Portfolio

Date of publication: 2020

Buy this book [amazon.com]


In this book, the authors investigate the type of relations that “fans” maintain with sports, music or cinema celebrities in order to transpose them to the business world. According to them, some brands have managed to establish ties of a similar nature with their customers. The latter seem to have developed a passion and limitless loyalty towards the brand: we can mention Apple fans, who go to the extent of camping in front of the stores to be the first to buy a product upon its release. Beyond being high profit generators, these customers are generally ready to become the ambassadors of their favorite brand, and even to support it in the event of a severe blow.

But how can you set such a strong relationship? By considering it as a long-term partnership, the authors indicate: the concept is to always remain attentive to what the customers say, to try and do them favors, without necessarily expecting an immediate compensation. Customers also expect a peer-to-peer relationship: transparency, respect, sharing of common values, etc.

Organized in three sections, the book first explores the concept of “fanocracy”: what are we talking about and what is the value for a company to be able to rely on “fans” rather than on simple customers? The second part gives concrete advice to build a “fans” network. Finally, the last part explains how to mobilize such a community to your advantage.

The book relies on numerous examples sourced from the worlds of music, cinema and sports. If you accept the idea that these examples can be transposed to the business world, it will usefully complement the thinking of top executives and managers who seek to reinforce their customers’ loyalty