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Digital CPG Roll
Photo Credit: Kevin Labianco.
Just how much are your social media efforts worth?
Well, the average value of Facebook fan for brands is an astounding $136.38, but it can swing all the way up to $270.77 on average for “best” fans or go down to $0 in the “worst,” reports Retail Wire. ” This value is based on Syncapse analysis of five factors per fan: product spending, brand loyalty, propensity to recommend, brand affinity and earned media value.”
Other findings in the study:
- On average, Facebook fans are 28 percent more likely to continue using a brand than are non-fan consumers.
- Overall, 68 percent (on average) of Facebook fans indicated that they are very likely to recommend a product across the 20 brands. This is contrasted by 28 percent for non-fans.
- Thirty-eight percent of respondents reported that they would likely become a fan of a brand if they saw a family member or close friend do so. This influence is slightly reduced to 34 percent if it is a person known through Facebook rather than a family member.
- Eighty one percent of fans said they feel “connection/empathy” with the brand, compared to 39 percent of non-fans.
Responses to “How much is a Facebook fan worth?”
October 25th, 2010 at 3:39 pm
Wow, this is really quite surprising. I haven’t really been involved enough with our company’s Facebook page to really calculate a monetary value of our fans.
However, these different stats may be just what’s needed (although it will be and needs to be taken with a grain of salt; since everything is NOT the same) to help prove that “Social Media Advertising” will be worth it and beneficial to us.
Thanks for the post!
October 25th, 2010 at 3:55 pm
It’s nice to see some actual numbers on this stuff. It’s hard to measure the “quality” of a Facebook page, but I have always thought there was a really strong connection between “liking” something on Facebook and liking it in real life. A fact that this survey shows.
Good post!
October 25th, 2010 at 3:32 pm
Research like this is great for when trying to explain the value of investing in social media. My only worry is that it will push companies just to work on volumes of fans rather than quality.