A new social media company Syncapse has released a report on their research on the true value of a Facebook fan, by asking 4,000 social media fans of top brands such as Coca Cola, Red Bull, McDonald’s and PlayStation.
The objective of the report was to try and put a monetary figure on the value of a Facebook Fan. In summary, the main points found:
- An average fan is worth about $136.38
- On average, fans spend an extra $71.84 they would not otherwise spend on products they describe themselves as fans of, compared to those who are not fans.
- Fans are 28 percent more likely than non-fans to continue using a specific brand.
- Fans are 41 percent more likely than non-fans to recommend a product they are a fan of to their friends.
With social media sites such as Facebook and Twitter, the number of fans and followers have become a big numbers game, and almost a competition between businesses. However with almost anything, quality over quantity will trump.
How can you measure the quality of fans or followers?
- Updating and evaluating fans on Facebook by looking into their user information such as demographics and like can help you determine if they are in the same industry as you, or would be interested in your products or service.
- Ask questions and feedback from fans and followers. You not only are actively engaging with your current/potential clients, this will help you determine how active and eager they are.
- Google Analytics is also a great way to track the number of users coming through the referring sites of Facebook/Twitter. If you are an e-commere store, specific tracking on your shopping cart system can be set up so you can specifically track sales from social media sites.