Unlocking growth from fan data
Turning passion into opportunity
Many companies have yet to realize the full value of engaged fan communities. By tapping into fandoms, businesses can unlock new avenues for growth and create more meaningful connections with their audiences. Learn how Deloitte leaders view the opportunities in this executive spotlight article.
Key insights
- 40% of consumers express their fandom through purchases
- 80% of consumers surveyed said they've discovered brands they like as a result of their fandom
- Investing in fan and audience data analysis can lead to improved ROI and enhanced marketing spending.
- A lack of data availability is a common challenge for companies pursuing a fan strategy.
- Understanding why fans engage with a brand can help companies create highly monetizable interactions.
- Creating an expanded view of fans’ buying behavior can foster unexpected partnerships and drive repeat business.
Fan communities represent a potentially untapped revenue and marketing opportunity for media and entertainment (M&E) companies. Deloitte research shows that engaged fans spend consistently and visibly on their favorite sports teams, music artists, and entertainment franchises.
While devoted fans can be highly loyal and profitable customers, many M&E companies don't have strategies for engaging with them. By analyzing fan behavior and melding that information with market data, companies can improve content ROI and increase revenue.
Harnessing fan data for business growth
Focusing on fans and enhancing data processes to learn more about them can be a game-changer for M&E companies.
Getting to the “why” of fan engagement
Understanding the motivations behind fan behavior can help companies create meaningful and personalized interactions. By learning why fans engage with a brand, businesses can tailor offerings based on customer needs and target them more precisely.
Fans may have different motivations for engaging with a brand: Some are drawn by themed experiences, others by life stages (like having kids who are fans), and some may be loyal to specific intellectual property. With a better understanding of the fan engagement point and the expanded profile data from third parties, companies can design and serve up more personalized experiences.
Wenny Katzenstein
