Harnessing Fandom for Marketing Success: Insights and Analysis

From Taylor Swift’s record-breaking The Eras Tour to the explosion of popularity in video games, the power of fandom is evident. In fact, 80% of consumers say their fandom brings them excitement and joy, per recent findings from Kearney, suggesting fandom could be a palate cleanser for the growing polarization of everyday life.

While the idea of a fandom may initially conjure up images of a Star Wars fan or Dungeons and Dragons player, fandom extends far beyond the typical nerd spheres. Sports teams, music stars and a range of other mainstream activities are also known to attract groups of loyal fans. Brands have a unique opportunity to tap into the passion of these consumers, they just need to know how.

Fandoms have the potential to drive sales by engaging super fans who are willing to support a brand financially and personally, even based on faith rather than fact. According to Kearney's report, super fans are known to defend a brand passionately. However, marketers should be aware of the risks associated with fandom, such as harassment and feelings of personal betrayal. Finding the right balance between risks and rewards is crucial.

Katie Thomas, the lead of Kearney's Consumer Institute, highlighted that fandom offers consumers a sense of connection, belonging, joy, and excitement. Whether it's being a super fan of a sports team, music artist, or brand, the power of fandom should not be underestimated. Super fans are extremely loyal, share their opinions about the brand, and are willing to invest financially. The community aspect of fandoms can attract new buyers and potential super fans in the future.

Fandom: explained

The Kearney Consumer Institute's report, "Got my mind set on you: Cultivating Fandom," used consumer surveys to explore the economic opportunities associated with fandom.

Fandom is a significant part of many people's lives, playing a central role in their lifestyle. According to a report, almost a quarter of consumers (23%) admit to being completely obsessed with their favorite product or brand. More than half of consumers (50%) think about or interact with their chosen product daily, and 56% have been loyal to the brand for over ten years.

80%

the share of consumers who say fandom brings them joy

50%

of those with a fandom think about or engage with the product at least once per day

56%

Fans have been loyal followers for at least ten years.

According to Kearney, the amount of money fans are willing to spend varies depending on the product and its related items. The most popular items for fans to splurge on are branded clothing and shoes, with 50% of fans choosing to do so. Following closely behind are the products themselves (43%), events like concerts or conventions (37%), food and drinks (31%), home items (28%), travel (27%), costumes or outfits (20%), and donations (15%).

It’s not just a brand, it’s a way of life

Fans have a significant amount of spending power. Take for example Taylor Swift’s The Eras Tour, which has generated more than $1 billion in revenue and has had a notable impact on the economy. However, the influence of smaller fan communities should not be underestimated. For instance, the Twitch stream "Critical Role," where popular video game voice actors play Dungeons and Dragons, managed to raise over $11 million for an animated series on Kickstarter in 2019. The company, with its loyal online fan base, now has its own Amazon Studios series called “The Legend of Vox Machina” and is also working on a second series, “Mighty Nein.”

Many people view fandom as more than just a brand or product - it's a way of life. A survey found that 61% of consumers have defended their fandom to non-fans, 63% are committed to supporting it, and 45% have even complained about other fanbases.

These strong emotions can present challenges for marketers looking to target fans. While there are great opportunities for lifestyle brands, it's crucial to understand the risks involved. Marketers should take into account the unique lifecycle of fandom when creating their marketing strategies. It's also important to recognize the role of "haters" within the community - those who participate in the fandom out of dislike for the property.

Marketers should be aware of the risks of engaging with highly emotional consumers, as they may face harassment from fans towards non-fans. In some cases, harassment can also occur within the fan community if someone offends others.

Despite the risks, there is potential for success. The report suggests that taking risks like grassroots marketing and collaborating with unconventional categories can yield positive results. Marketers can tap into the benefits of fandoms, as long as they know how to navigate them effectively.

"We discovered that being a super fan can have its benefits, but it can also become a problem if taken too far. This is especially true in today's divided society, where fandoms shift from unity to division," explained Thomas. "There's a delicate balance between super fandom being an advantage and a drawback, especially when it leads to boycotts or outrage on social media."

Editor's P/S:

Fandoms, transcending traditional nerdy pursuits, have become a ubiquitous force in contemporary society. They offer a sense of belonging, joy, and excitement, fostering intense loyalty among their members. The economic potential of fandoms is staggering, as evidenced by Taylor Swift's record-breaking tour and the success of Twitch's "Critical Role." Brands have a unique opportunity to tap into this passion by engaging with super fans who are willing to invest financially and emotionally.

However, fandoms also pose certain risks. Harassment and feelings of personal betrayal can arise within these highly emotional communities. Marketers must strike a delicate balance between reaping the benefits of fandom and mitigating the potential pitfalls. Understanding the lifecycle of fandom and the role of "haters" is crucial in navigating these complex dynamics. By embracing grassroots marketing, collaborating with unconventional categories, and fostering inclusivity, brands can harness the power of fandom while minimizing the risks.