Fan Economy Marketing Strategies and Financial Performance: An Economic Analysis of Social Media Engagement
Year: 2025
Type: article
Study designs: Systematic Review, Meta-Analysis
Abstract: The proliferation of social media platforms has catalyzed the emergence of the fan economy, a phenomenon wherein passionate consumer communities generate substantial economic value through sustained engagement with brands and content creators. This meta-analytic study examines the relationship between fan economy marketing strategies and organizational financial performance, analyzing 89 empirical studies published between 2012 and 2024. Employing a comprehensive theoretical framework integrating brand equity theory, customer engagement theory, and resource-based view perspectives, we investigate five core dimensions of social media marketing activities: entertainment, interaction, trendiness, customization, and electronic word-of-mouth. Our findings reveal significant positive associations between fan economy marketing investments and multiple financial performance indicators, including revenue growth (r = 0.447, p < 0.001), market capitalization (r = 0.382, p < 0.001), and return on investment (r = 0.394, p < 0.001). Heterogeneity analysis identifies moderating effects of industry sector, platform characteristics, and market maturity. The study contributes theoretical insights into value co-creation mechanisms within digital ecosystems and provides empirical evidence supporting strategic investments in fan-centric marketing approaches. Managerial implications emphasize the importance of authentic engagement, community cultivation, and integrated multi-platform strategies for maximizing financial returns from social media investments.
DOI: 10.14419/1r86g409
Authors: CHANG Hailing, DAI Jianhua
Subfield: Sociology and Political Science
Field: Social Sciences
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4416596448
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