Fanocracy: Turning Fans into Customers and Customers into Fans by David Meerman Scott, Reiko Scott

Most of today's businesses understand the importance of engaging their customers and partners in the growth of their enterprise. However, many are finding that simply putting out a message and expecting those customers to respond is no longer effective. Instead, customers have come to expect a much more interactive experience in order to remain engaged.

This is where "Fanocracy: Turning Fans into Customers and Customers Into Fans" by David Meerman Scott comes into play. In this book, Scott offers up a fresh and unique approach to customer engagement by turning customers into fans and fans into customers.

In Fanocracy: Turning Fans into Customers and Customers Into Fans, Scott argues that the traditional idea of a business-customer relationship is no longer enough. Scott says that we live in an age where customers demand to be more than just customers. Instead, they now want to be fanatics. With the advent of social media, customers have increasingly become empowered and vocal while not only throwing around brand loyalty but also brand loyalty challenges.

In order to make it in the current business landscape, businesses must develop a strategy to turn these customers into raving fans. However, doing this effectively and sustainably requires more than just conventional marketing tactics. Scott argues that this can be done through creating an active and living relationship with customers that goes beyond simple interaction.

The key components of these relationships as outlined in the book is Fanocracy. This is an approach that puts the 'fan first'. As Scott puts it, how an organization treats its fans will determine how successful it will be. The book provides businesses with the guidance to 'fan first' by providing an easy to digest process for doing so:

1. Listen: Utilize social media and network with customers to understand what inspires and what frustrates them.

2. Respond: Develop comprehensive strategies to respond to customer feedback and develop strategies to nurture customers.

3. Engage: Encourage customers to become passionate by engaging with your product or service.

4. Delight: Strengthen the connection by surprising and delighting customers.

5. Monitor: Track the results of your strategy and adjust to ensure your customers remain delighted.

By adopting the 'Fanocracy' process, businesses have the opportunity to turn their customers into raving fans. With this approach, organizations can not only encourage increased loyalty but also increased sales and profits. In addition, Scott explains how businesses can leverage their fan base to create additional opportunities to collaborate with customers and identify additional ways to offer up value as part of their relationships.

Ultimately, Fanocracy: Turning Fans into Customers and Customers Into Fans provides a comprehensive framework for businesses to create lasting and profitable relationships with their customers. By adopting Scott's Fanocracy process, businesses can not only increase customer engagement and loyalty; but also capture the hearts and minds of their customers. As Scott explains, this is the key to increased customer engagement, loyalty and ultimately success.