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 can also be a powerful force when it comes to driving sales. Superfans can act on faith, rather than fact, and are likely to defend a brand and invest in it financially and personally, per Kearney’s report. However, there is a dark side to fandom that marketers should be aware of, such as risks of harassment and feelings of personal betrayal. Knowing how to balance the risks and rewards is key.
“Fandom provides consumers with a source of connection, belonging, joy and excitement,” said Katie Thomas, lead of Kearney’s Consumer Institute. “Whether they are a superfan of a sports team, music artist or brand, fandom can be a powerful tool and asset. Superfans are often unwaveringly loyal, voice opinions on the brand and financially invest in it. The sense of community fandoms provide can be a huge draw for new buyers and future superfans.”
The “Got my mind set on you: Cultivating Fandom” report from the Kearney Consumer Institute relied on consumer surveys to gain a better understanding of the economic potential of fandom.
Fandom: explained
Fandom cuts across categories and can play a central role in the lifestyle of the consumer. Almost a quarter of consumers (23%) report a “complete obsession” with their product or brand of choice, per the report. Additionally, more than 50% think about or engage with the product at least once a day while 56% have been invested in the brand or product for at least a decade.
How much money fans can spend depends on the product and its adjacents, according to Kearney. Branded clothing and shoes are the most popular items for fans to spend money on, with 50% of fans doing so. This is followed by the product itself (43%), events such as a concert or convention (37%), food and drink (31%), items for the home (28%), travel (27%), costumes or outfits (20%) and donations (15%).
The spending power of fans is considerable. On the large scale, Taylor Swift’s The Eras Tour has grossed over $1 billion and contributed significantly to the economy. However, brands shouldn’t overlook the power of smaller fandoms. “Critical Role,” a Twitch stream featuring popular video game voice actors playing Dungeons and Dragons, raised over $11 million for an animated series on Kickstarter in 2019. The company, which has a dedicated online fandom, now has its own Amazon Studios series titled “The Legend of Vox Machina” with a second series, “Mighty Nein,” in production.
It’s not a brand, it’s a lifestyle
For many, fandom extends beyond just a brand or product into a way of life. Sixty-one percent of consumers have defended their fandom to those who don’t like it, 63% indicated they are unlikely to stop supporting it, while 45% have admitted to complaining about other fanbases.
Such strong feelings can make fandom-related marketing tricky business for advertisers. While the potential for lifestyle brands is substantial, knowing how to navigate risks is paramount. Marketers should understand the fandom’s unique lifecycle as they make their marketing plans, according to the report. Marketers should also be aware of the role “haters,” or those who participate in the fandom due to hate of the property, play in the community.
Additionally, marketers should know the risks that come with associating with high-emotion consumers, which include the potential for harassment by those in the fandom against those outside of it. Harassment can even occur within fandoms, if someone involved commits what some fans consider to be slight against it.
However, success is possible. Taking risks, such as grassroot marketing efforts and associating with categories outside of the traditional vertical can prove to be beneficial, according to the report. Fandom can be worth it, marketers should just know how to navigate them.
“We found that while super fandom loyalty can be a positive, it can also be a risk beyond a certain point — particularly in today’s polarized climate — when fandoms go from, ‘We’re all in this together,’ to, ‘If you’re not with me, you’re against me,’” said Thomas. “There is a fine line between super fandom as an asset and a risk when it comes to the potential for boycotts or social media outrage.”
