The Value of Fan Customers

In this chapter, we show why focusing on Fan Customers has been proven to bring economic success: Fan customers spend more money, are less price-sensitive, increase revenues through cross-buying and are also very loyal, i.e. they have the highest customer lifetime value. Fans also indirectly increase sales and revenue because they support their company in numerous areas. Fans are more forgiving of poor performance and resistant to poaching and negative recommendations. Fans also actively recommend their company to others and thus support the acquisition of new customers. Fans contribute ideas and, due to their high level of involvement, form an excellent basis for crowdsourcing, which reduces internal development costs. Fans are therefore the best support for any growth strategy. This is why companies with higher fan rates have more economic success.