Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
1 of 32

Value of a fan

15

Share

Download to read offline

Joint initiative with Millward Brown to help WFA members understand the brand value of a fan and inform their approaches to fan pages.

Related Books

Free with a 30 day trial from Scribd

See all

Related Audiobooks

Free with a 30 day trial from Scribd

See all

Value of a fan

  1. A project for the  A project for the WFA DIGITAL NETWORK March 2011 The value  Th l of a fan? f f ?
  2. This is an abridged  This is an abridged public version of  learnings l i p p prepared for the  World Federation of  Advertisers. Advertisers Full report is available on request  Full report is available on request to WFA members: http://www.wfanet.org/members_global.cfm
  3. Some background g • Challenge posed by WFA’s Digital Network • MB & Dynamic Logic agreed to help find out “so what?” • Not about an arbitrary $ figure for media/ sales value • All about how to build brand and optimise fan pages • Bespoke reports already with participants – this report is an  abridged overview of findings for industry learning • Many thanks to all WFA members who took part
  4. Unique two phase research project:  Unique two phase research project: combining two perspectives Phase 1  Phase 2  Marketers Brand Fans • How are they approaching  • How and why are they  the use of social media? the use of social media? using brand fan pages? using brand fan pages? • What do they expect from  • Are fan pages improving   social media? brand opinions?  How?
  5. WFA members’ view: brand  value over business metrics What do you consider to be “the value of a fan”? 85% 85% % 80% 75% 50% 45% 15%
  6. From liking g to love:  How fan  pages build  brands b d
  7. 96% spending  96% spending more on social Time and money versus expectation?
  8. But unsure about  But unsure about the returns Social media fan base ROI?
  9. Fans already outspend non‐fans by over 4x. The  y p y fan page challenge is to deepen the relationship Fans Non‐Fans 4% Bonding 1% 62% Advantage 19% 67% Performance 31% 83% Relevance 37% 100% Presence 50% 13.4% Share of wallet 2.8% Source:  Brandz, 2010 global database
  10. Qualitative learning about  Qualitative learning about how to engage is available how to engage is available
  11. Listening is key to success Ignoring social Thoughtfully integrated Jumping on media, program bandwagon — staying out of game "must be there" • Less relevant/current • Ability to listen to • Consumers see right and trustworthy consumers and through this — and it • Complete loss of understand their needs kills credibility control (consumers • Consumers co-own • Traditional marketing define the brand by the brand and approaches alienate themselves) evangelize consumers Source:  Firefly Language of Love
  12. Phase Two:  Phase Two: Learning from our  brands’ fans b d ’f • 24 fan pages from large  companies • Categories included  confectionery, alcoholic and  non‐alcoholic drinks, personal  p care and telecommunications • US, UK, Australia, France,  Germany and Sweden plus  d d l some global
  13. Phase Two:  Phase Two: Methodology Wall post: Wall post: "Dear BRAND fans,  your opinion is  important to us!  Please help us improve  Please help us improve this page by answering  our short 5 minute  survey."
  14. We spoke mainly  W k i l Visitors 5% to existing fans... g Fans 95% Virtually all page visitors  y p g completing our surveys  were registered fans.   Fan Tenure (%) More than a year 9 They had typically been  7 12 months 7‐12 months 11 registered for 3‐4  4‐6 months 20 months. 2‐3 months 32 Less than a month Less than a month 19 Registered today 9
  15. First thing  we learned: we learned Size matters! But it certainly  B i i l isn t everything… isn’t everything…
  16. Bigger fan pages generally rated better Bigger fan pages generally rated better But number of fans doesn’t tell the whole story High Correlation:  0.28 FanIndex Rating R Low 0 500,000 1,000,000 1,500,000 # of Fans
  17. The FanIndex rating is a composite  g p measure Recommendation  Overall opinion likelihood “Very favourable” “Very likely” FanIndex Rating Attention to brand  Revisit likelihood posts “Very likely” “Pay a lot of attention,  read them regularly”
  18. We diagnose drivers of the FanIndex rating g g and then assess impact on brand measures Fan page Impact on  attributes brand equity Impact on  I t Fan page FanIndex brand  content Rating appeal Benefits of  Impact on  being a fan b i f engagement t
  19. Starting with  the basics: the basics Trust is a  must have must have
  20. Most pages we assessed are  Most pages we assessed are delivering well on trust F Fan page attributes (agree strongly)  % tt ib t ( t l ) % Easy to use and navigate asy o use a d a ga e 55 Trustworthy source of information 48 Clear and uncluttered 45 Fun and engaging content 43 Useful information 42 Stylish design 39 Wide variety of information 37 New and innovative New and innovative 36 Information I was looking for 35
  21. The Language of Love has taught us: maintain trust through transparency Transparency Expertise Authenticity Familiarity Likeability Trust Source:  Firefly Language of Love
  22. Key  differentiators: Variety,   innovation  innovation and style
  23. Appear as  news, never  news never They must provide me  h id with information,  g advertising. good knowledge  about the brand so  h I ld h h that I could share that  with friends like an  ‘expert’ ‐Male, 19 Keep them  K th guessing  guessing about what  comes next... t
  24. Fans most value news & information;   Fans most value news & information; also contests and offers F P Fan Page Benefits (Top Box) % B fit (T B ) % Latest news about the brand 62% New product information 61% Contests and giveaways 58% Sales, discounts, coupons and special offers l d d l ff 55% Allows me to show I like the brand 47% Enjoy reading other people’s thoughts and  ideas 45% Access to free downloads and virtual gifts 41% I enjoy feeling part of a brand community 34% Allows me share my thoughts and ideas 32% It gives me a sense of status 13%
  25. Another key  differentiator: A sense of  community
  26. There’s no  There’s no silver bullet silver bullet How you best  build appeal  will depend  will depend on brand  personality &  objectives
  27. Last but  certainly  i l not least: not least: Post  P t regularly!
  28. More frequent posts tend to result in a better  More frequent posts tend to result in a better FanIndex rating High 3 2 1 FanIndex Rating Correlation:  Correlation: R 0.46 4 5 0 10 20 30 40 50 60 Low # of Posts
  29. Checklist h kl Contests/  Giveaways y New  product  product Expected info Fun Expected Differentiator Variety Community Differentiator Differentiator Regular  R l posts Expected Off Offers Trustworthy  Expected brand news Expected Innovation Interaction Differentiator Differentiator
  30. Conclusions • Fans pages of all sizes can build equity and  p g q y engagement, but as expectations increase, brands  have to keep pace • Check your page against our expected checklist Check your page against our expected checklist • Then differentiate by going the extra mile in a way  which will achieve your specific brand objectives • Post and comment frequently.  Beware campaign  mentality: fan pages that ‘go quiet’ can have a  detrimental brand impact detrimental brand impact • Commit considerable resource: community managers?
  31. Further research While this study has provided some fascinating initial  insights, there is still much to learn.  Millward Brown and  insights there is still much to learn Millward Brown and Dynamic Logic hope in future to extend this work with  p partners to explore areas such as: p • How responses to fan pages vary by category, country, user type  • How attitudes to fan pages change over time How attitudes to fan pages change over time • How attitudinal responses to fan pages link to behavioural and  engagement metrics g g • How fan page quality relates to efficiency of fan recruitment and  retention 
  32. Further information For further information about this study, please contact: • WFA WFA  Rob Dreblow r.dreblow@wfanet.org • Millward Brown/ Dynamic Logic  Duncan Southgate Duncan.Southgate@millwardbrown.com Juan Manuel Hernandez  JuanManuel.Hernandez@millwardbrown.com Contact MB or DL to conduct your own bespoke fan page assessment

×