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Value of a fan

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

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

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  • 1. A project for the  A project for the WFA DIGITAL NETWORK March 2011The value Th lof a fan? f f ?
  • 2. This is an abridged This is an abridgedpublic version of learningsl ip pprepared for the World Federation of Advertisers.AdvertisersFull report is available on request Full report is available on requestto 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 metricsWhat 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 socialTime and money versus expectation?
  • 8. But unsure about But unsure about the returnsSocial media fan base ROI?
  • 9. Fans already outspend non‐fans by over 4x. The  y p yfan 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 abouthow to engage is availablehow 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 consumersSource:  Firefly Language of Love
  • 12. Phase Two: Phase Two:Learning from our brands’ fansb 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 gcompleting our surveys were registered fans.   Fan Tenure (%) More than a year 9They had typically been  7 12 months 7‐12 months 11registered for 3‐4  4‐6 months 20months. 2‐3 months 32 Less than a month Less than a month 19 Registered today 9
  • 15. First thing we learned:we learnedSize matters!But it certainly B i i lisn t everything…isn’t everything…
  • 16. Bigger fan pages generally rated betterBigger fan pages generally rated betterBut 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 pmeasure 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 gand 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 basicsTrust is a must havemust have
  • 20. Most pages we assessed are Most pages we assessed aredelivering 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 TrustSource:  Firefly Language of Love
  • 22. Key differentiators:Variety,  innovation innovationand style
  • 23. Appear as news, never news never They must provide me  h id with information,  gadvertising. good knowledge  about the brand so  h I ld h h that I could share that  with friends like an  ‘expert’ ‐Male, 19Keep them K thguessing guessingabout 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 nosilver bulletsilver bulletHow you best build appeal will depend will dependon brand personality & objectives
  • 27. Last but certainly  i lnot least:not least:Post P tregularly!
  • 28. More frequent posts tend to result in a better More frequent posts tend to result in a betterFanIndex 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 DifferentiatorRegular 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 researchWhile 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 andDynamic Logic hope in future to extend this work with ppartners 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 informationFor 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.comContact MB or DL to conduct your own bespoke fan page assessment

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