Fans Economy：The New Economic Way of Social Media
What is the Fans Economy?
According to week study,I realized focusing customer is necessary when we discuses the business marketing. Today, I want to talk about a spacial customs marketing, called " fans economy".
I really think the fan economy (not copying Wikipedia) is a
new type of economy based on the Internet. The connection between social media and fans economy. Interactive social media is a key of
internet form. Social media has narrowed the gap between ordinary fans and
idols. The commercial profit activity that idol companies use to make use of
this feature is a fan economy. For example, last week my blog shared Rihanna's beauty brand Fenty named Fenty Beauty by Rihanna, which also a good example about fans economy.
The fans economy is divided into two parts. The first is the
real economy, which is around the stars, concerts, movies and film and
television dramas. The other part is the virtual economy, which can also be
called the indirect economy. This part mainly relies on social media. I
will roughly analyze the "fan economy"in this blog.
Strengthen direct contact between brands and stars
With the Facebook and Instagram popular in whole world, brands
are preferring to strengthen direct contact between brands and stars. For example,
GiGi, a star model put post about interaction with prada on Instagram. The number
of likes is over 1 million.
The brand hopes and uses the star's influence to
determine its fan base. The star hopes to enhance his star effect through the
characteristics of different brands. For them, social media provides a good
platform.
Other example I want to analysis is fans economy in south Korean.
As we know, SM is the most popular entertainment company, Sulli , who recently
thought that she made a hop topic because her suicide, is their artist. The
right or wrong of this matter is not discussed in the blog, but sulli is indeed
a successful example of a fan economy. From the past 10 years, her fans have
created many benefits for SM. Thougout the ins of sulli, the respectively cooperate
with Fendi, channel and Este lander increase the sale for brands.
Finally, I want to put forward a company from china, which
is Xiaomi. Following the Groundswell, I know the importance of customers. Actually,
fans could become the greatest number of customers. Not only the stars have their own fan economy, but the brand also has a fan economy.
Example：
Example：
1. Mobilize fans. Using Facebook and Instagram to acquire
new users; using forums to maintain user activity; using WeChat as customer
service.
2. Enhance participation. For example, when developing MIUI, let rice flour participate in it, make suggestions and requirements, and improve it by engineers. This greatly enhances the user's sense of ownership.
3. Increase self-identity. Through the Popcorn Forum, the Rice Noodle Festival, and the City Club, Xiaomi allows users to solidify the feeling of “I am the protagonist”.
4. National customer service. Xiaomi is a customer service from the leader to the employee. They all have continuous dialogue with the fans, so that they feel that they are valued and have problems to solve in the first time.
What do you think about Fans economy by social media? Let me know in the comments below!
I think fan economy is definitely a huge deal, and I think you see it very clearly in the rise of influencers online. Not only do traditional celebrities and brands capitalize on fan economy, but random people can just start posting things online, get a lot of attention, and then be hired by brands to promote them even more.
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