There’s an interesting concept that circulates in the world of creative types seeking to achieve business success by doing what they love. It’s called 1,000 true fans.
The idea is simple: If you use your talents to produce something creative and want to build a business based upon that, you need to build a base of 1,000 True Fans.
The argument is that a true fan will buy whatever you create, so if you have 1,000 of them who will each spend $100 per year on the things you create, then you have a $100,000 business.
It makes sense, it is a clear illustration of capturing a niche market, i.e., the people who love what you do, and it has implications for every other business.
Though I am not suggesting that you can sustain a credit union with 1,000 True Fans, there is merit in thinking about what you could do for your credit union if you had 1,000 True Fans.
Think about it.
What if you had 1,000 people from within your membership who really got it.
They understood what the credit union offered, they were passionate about it, they shared their experiences with others, they promoted the credit union to anyone who would listen, they helped you expand the reach and impact of the credit union at every turn, they took advantage of new products and services, they provided you with feedback that helped you be more effective in serving your members, and more.
Wouldn’t that be a powerful tool for building your credit union?
ACTION ADVICE: Here’s how you can put the concept to work.
1. Start a ’1,000 Fans’ program and reach out to your members and invite them to join. Outline clear expectations for what you want these folks to do and focus it all on the key things you need to help you grow…help you connect with new SEGs, increase your visibility within the community, share stories that demonstrate the impacts of the credit union in people’s lives…whatever you feel you need in order to attract new members and deepen relationships with your current members.
2. Create the necessary materials that your 1,000 Fans will need to promote the credit union…websites, blogs, fact sheets, tool kits, DVDs, online videos, and so forth…the things that make it easy for your fans to share the message with others.
3. Provide these 1,000 Fans with some sort of return on their investment in helping you grow the credit union…visible recognition, special offers on products and services, regular appreciation…commit to making them feel special and to making the 1,000 Fans group something that people want to join.
4. Be up front and have fun with the concept…start a campaign to sign up 1,000 fans before a certain date, and don’t worry about whether you are getting the people you would choose, make it open so that those who want can sign up…they will deliver once they have the tools to help them share the message and the assignment to make it happen.
5. Publicize the effort, create a Facebook page for it, setup a Twitter account for the followers, post notices in your branches, hand out membership cards…do whatever it takes to create the momentum to get the effort off the ground and to get people talking about it. Leverage the power of the world in which we live today…a world where the idea of attracting fans to what you do is part of the daily conversation and sharing personal experiences is made easy via online tools, it would be foolish not to participate.
