1000 True Fans

This concept, popularised by Kevin Kelly in 2008, remains surprisingly relevant in 2024, offering a powerful alternative to the elusive pursuit of viral fame. 

I also think this is a vastly under utilised concept, and a metric that as an investor I would like to see discussed in more detail.

How many true fans does your business have ?

It is not easy building sales, however it is a lot harder to build a brand, which is why having focus is so important. Last week we discussed the benefit of going narrow and deep, this week the focus is on the end consumer - and finding your true fans.

So how do you measure the trueness of your fanbase, see below some suggestions:

1. Repeat Purchases & Frequency: Track how often someone interacts with your brand commercially. True fans regularly choose your products or services over competitors, demonstrating loyalty and driving sustainable revenue. Analyse purchase history, subscription renewals, and repurchase rates to identify frequently returning customers.

2. High Engagement & Advocacy: True fans go beyond passive consumption. Look for individuals who actively engage with your brand online and offline. Measure likes, comments, shares, and participation in events or webinars. Track brand mentions, positive reviews, and referrals to gauge advocacy behaviour.

3. Premium Content/Service Consumption: If you offer tiered content or services, see who accesses and engages with higher-value options. True fans might subscribe to exclusive newsletters, join premium memberships, or attend paid events, demonstrating deeper commitment and willingness to invest.

4. Customer Lifetime Value (CLTV): While traditional CLTV considers overall revenue, focus on the long-term value of individual customers. Identify individuals who consistently contribute to your brand over time, considering repurchase behaviour, referrals, and engagement duration.

5. Net Promoter Score (NPS): This metric goes beyond transactions, measuring true fans' willingness to recommend your brand. Conduct regular NPS surveys, focusing on open-ended feedback. True fans will provide valuable insights and score high on their likelihood to promote your brand, solidifying their loyalty.

My suggestion would be a combination of a couple of the above, but once you have decided what constitutes a true fan - it is then a matter of finding them and keeping them.

Forget chasing millions. In the age of information overload and fleeting trends, building a dedicated community of just 1,000 "true fans" might be the key to sustainable success, especially for UK creators.

True fans vs. casual likes:

Unlike passive followers, true fans are deeply engaged, willing to invest their time, money, and even advocacy into your work.

Imagine 1,000 consumers eagerly pre-ordering your next NPD, subscribing to your newsletter, or attending your sold-out workshops, brand tastings or other events.

This loyal base provides financial stability, invaluable feedback, and an organic marketing force, amplifying your voice within their networks, it is also attainable and measurable.

1. Foster Direct Connections: Ditch the one-way communication. UK brands like Pact Coffee excel by prioritising personalised interactions. Utilise email marketing, live chats, or social media DMs to answer questions, offer recommendations, and create a sense of genuine connection. Remember, your 1,000 fans crave a dialogue, not a monologue.

2. Reward Loyalty: Don't underestimate the power of appreciation. Implement tiered loyalty programs like Bosh!'s "Bosh fam" rewards or exclusive early access for your most engaged followers. Consider offering unique discounts, merchandise, or even personalised experiences to show your true fans they're valued.

3. Spark Community Engagement: Move beyond product promotion. Create interactive campaigns like Craft Gin Club's monthly themed "Gin of the Month" boxes, encouraging discussions, recipe sharing, and social media engagement around your brand. Foster a sense of belonging and shared values within your community through collaboration, feedback, and shared experiences.

4. Embrace Direct-to-Fan Content Creation: Instead of just selling products, cultivate deeper connections by offering exclusive content directly to your true fans. Platforms like Substack, Ko-fi, or Beehiiv allow you to create newsletters, podcasts, or behind-the-scenes content accessible only to your subscribers. This fosters a sense of exclusivity and strengthens the bond between your brand and its most dedicated supporters.

5. Partner with Micro-Influencers: Ditch the celebrity endorsements. Collaborate with UK micro-influencers who share your brand values and resonate with your target audience. Look for individuals who align with your brand's identity and can genuinely connect with your 1,000 true fans on a personal level.

The "1,000 true fans" is for businesses playing the long game - think of the CLTV for these fans, they become the bed rock of your business, however it takes time.

Where are they, who are they, a deep understand of what makes them buy your products and why. 

Be patient, focus on authenticity, and prioritise meaningful connections.