Skip to content

Latest commit

 

History

History
42 lines (21 loc) · 3.18 KB

1000_true_fans.md

File metadata and controls

42 lines (21 loc) · 3.18 KB
Raw

Notes on "1000 True Fans"

Summary

"1000 True Fans" is a widely-known essay he wrote in 2008. The essay explores the concept of how artists, creators, and entrepreneurs can achieve sustainable success by cultivating a relatively small, dedicated fan base.

Here are the main points from Kevin Kelly's essay "1000 True Fans":

  1. The Power of True Fans: True Fans are individuals who are deeply passionate about a creator's work and are willing to support them consistently. They are more valuable than casual customers because they provide ongoing and loyal support.

  2. Defining True Fans: A True Fan is someone who will purchase anything the creator produces, whether it's physical products, digital content, or experiences. They are highly engaged and emotionally connected to the creator's work.

  3. Focus on Quality, Not Quantity: Instead of aiming for mass appeal and trying to reach millions of customers, the key to success is to identify and nurture a dedicated core of True Fans.

  4. Monetizing True Fans: Creators can build a sustainable income by providing premium offerings to their True Fans. This might include special editions, personalized experiences, membership programs, or exclusive content.

  5. Direct Relationship with Fans: Embrace direct communication with True Fans through newsletters, social media, and other platforms. A direct relationship fosters loyalty and helps creators understand their audience's needs and preferences.

  6. Engage and Appreciate True Fans: Show genuine appreciation to True Fans for their support. Acknowledge their contributions and make them feel valued as part of a community.

  7. Diversify Revenue Streams: Rely on multiple revenue streams rather than putting all the focus on a single source of income. This can include merchandise, events, consulting, crowdfunding, and more.

  8. Creating Sustainable Independence: By cultivating a strong and loyal True Fan base, creators can achieve financial independence and artistic freedom without depending on traditional gatekeepers or mass media platforms.

Kevin Kelly's "1000 True Fans" concept has been influential in the world of creators and entrepreneurship. It encourages creators to focus on building strong relationships with a smaller but dedicated fan base, rather than striving for viral success or mass-market appeal. By providing unique value and catering to the needs of True Fans, creators can sustainably support their creative endeavors and build a lasting, fulfilling career.

Math

1,000 fans each purchasing a $100 product each year will result in an income of $100,000/year.

That is about 84 sales per month.

That is about 3 sales per day.

But, 1,000 true fans is not 1,000 people on your email list or 1,000 visits to the website.

A typical website session to sale conversion ratio for cold traffic might be 0.01% (not 1%), conservatively. Therefore, we would need 30,000 sessions to get 3 sales per day. That is about 900,000 sessions per month or nearly 11,000,000 sessions per year.

Or you can for fewer sales and a more expensive product, e.g. 1 sale of a $300 product with perhaps 10,000 sessions per day.