A Branded Social Network provides you with the opportunity to create additional revenue streams for your business.
Based upon your order type, the choice to charge membership subscriptions to join your branded social network is entirely yours, but before discounting the idea take a look at the branded social network example case study below to get an idea of the potential increased revenues from a relatively small social platform.
It may be that you wish to generate revenues from advertising or sponsorship or it may be that you just wish to provide a free and open branded social platform to consolidate your users into an environment that is owned by you.
The best way to explain the potential revenues available through your own Branded Social Network is through an example case study. The example case study below does not include any merchandising revenues, upgrades for video content access or any forms of advertising revenues.
Let's say for example you are a sports brand (maybe a football club).
You have 50,000 local supporters and another 20,000 supporters spread throughout the world and your stadium holds 22,000 capacity of which 3,000 seats are reserved for the visiting supporters
On a good match day, the brand engages with 19,000 supporters at the grounds, provided the stadium is at capacity.
So, who is engaging with the other 51,000 supporters, who did not buy a ticket, maybe do not or cannot attend fixtures and in many cases do not generate any revenues for the club?
Let us focus on these missed opportunities where you do not currently generate any revenues.
Using the example case figures, let's say you charge a £3.00 per month fan subscription, which is the average price of a match day programme.
Your Branded Social Network could be generating an extra £153,000.00 per month just from the supporters who did not or do not attend fixtures and who make no revenues for the brand at present.
That is an extra £1,836,000.00 per annum without any extra ticket sales, merchandising, or advertising revenues. Whilst consolidating your supporters into one central environment that you control.
Even if your branded social network only engaged with the 20,000 international supporters who don't generate any revenues for the brand. This would still be generating an extra £720,000.00 per annum just from a base subscription rate.
Why not compare your own situation to our case study and run the numbers, you may surprise yourself at the results and additional revenue potential that you uncover with your own Branded Social Network/ This is all revenue that you are currently giving to another party for the benefit of their business.
Can your business afford to ignore the influence and revenues generated from having your own branded platform?