Kevin Kelly hypothesized that all you need is 1,000 raving fans. I believe he called them true fans. Being pedantic aside… does this still hold true, or did it every really hold true?
This concept was based on a business model for creating $100 of product per year to make your living.
What is 1,000 Raving Fans?
In your business, this would be 1,000 people that would literally buy everything you produce. Hence the reason for creating $100 in product per year. The math is simple. 1,000 people at $100 dollars would create your $100,000 a year business.
Does that mean that your business doesn’t have other people patronize it? No. This is just the 80-20 rule worded a bit different. This is what you want your 80% to be made of. In this scenario let’s use a restaurant. Let’s assume a $10 ticket and that person comes every month. This means they spend $120 a year with you.
Am I saying your restaurant only needs 1,000 customers to make it… no.
What I am saying is this is your profit. The people you take care of.
Because they tell everyone they see, and that 1 person makes you half as much as they were worth to you in the first place.
1,000 Raving Fans Multiplier
Do the math quickly. Since your fans are “Raving” they tell everyone. So, for every 10 raving fans you create, they create 1. Now, you have 100 more. However, those 100 make 10, and that 10 makes one. So eventually you have 1,111. Which means year over year you will see growth.
Raving fans also create the smallest amount of customer service issues. They are also the ones that are good to give you a pat on the back.
My Raving Fan Story
My wife loves a particular restaurant. It is called Chicken Salad Chick. I decided to bring home food to her one night, and I didn’t check the order. When I got home it was discovered that this part of the order was left out. I told her to call and see what they would do. I felt bad, as I felt this mistake was partially my own. The manager told her she could send her a gift card for the omitted portion of the order. A fair deal right.
The Moment I became a Raving Fan
I went in the other night, and the manager remembered me. She asked about the gift card and apologized for the mistake. She then said, “I am really sorry about the trouble, this one is on the house.”
Why is that important?
Because she probably didn’t know that I have 55,000 followers on Twitter or a personal blog.
She did understand one concept, I go in and spend around $40 a month. So, mistake or not. I am very valuable because I am a “super fan.”
Thanks for Reading,