The Fan Based Economy

Bud Caddell posted a great presentation on SlideShare about what he calls “The Fan Economy.”

I’m a big fan of this philosophy and believe that it makes even more sense in the new economy.  Here’s why:

  • It’s a whole lot easier to get a current consumer to BUY MORE than it is to get a new consumer to BUY FOR THE FIRST TIME.
  • Awareness is nice, but does it sell stuff? Image is nice too, but does it sell stuff?  Yeah, sometimes – but fans making recommendations sells a whole lot more and on a much more consistent basis.
  • Does anyone have money to risk these days?  To me, advertising is a huge risk.  Strengthening the bond with loyal consumers is the safe play.

I found this thru my friend Owen Mack of CoBrandit on Facebook.

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