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So, just what is the value of a Facebook ‘like’? Does it have any real worth in terms of increased sales and customer loyalty, or is it simply a fan count?
In truth the value of a ‘like’ varies wildly between different industries and sectors, but Syncapse in partnership with Hotspex has started to work out exactly how much their Facebook fans are worth.
The value of a Facebook Fan to major consumer brands has increased an average of 28% to $174 since 2010, according to the 2013 study from Syncapse. The study, which examined 20 top global consumer brands in terms of their Facebook Fan performance, replicates and enhances the seminal research Syncapse conducted in late 2010 that first measured Facebook Fans value as drivers of shareholder value. Back then the average value of a Fan across all brands under the study was $136.
In addition to a 28% increase in value, Fan counts have doubled or even tripled since the first study so even a slight increase in the value of an average Fan is magnified. In 2010, these brand pages typically had a few million Fans each. Top brands in the 2013 study have well over 15 million Fans, with some like McDonalds and Coca-Cola with 25 million and 60 million, respectively.
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When it comes to determining value, social media can be one of the most elusive channels for marketers. You know that engaging with customers and prospects is important, but it can be difficult to know how to do it right or where to spend your time. Find out how well your company is mastering: reach, likes, comments, shares, subscribers, stories, tweets, retweets, circles, engagement, status updates, talking about this, events, followers, visual content, friends of fans, pins, repins, boards, hashtags, +1’s, favorites and more.
For a free, no obligation social media assessment simply go to www.customerinsightgroup.com/smgrade and complete the quick profile, then we’ll email you a comprehensive Social Media Report Card with an assessment of how you stack up on each of your social media channels and tips to help you harness social media to drive business results.
Complete the form below and receive your free comprehensive Social Media Report Card. This report includes an assessment of how you stack up on each of your social media channels and tips to help you harness social media to drive business results.
