Update – July 2011 Facebook Fan Value
The internet evolution keeps marketing managers on their toes. Is it really worth it for a brand to spend time and money to strategize and execute a Facebook marketing plan?
The short answer is a resounding “Yes!” Facebook Fans are a different kind of customer. The have segmented THEMSELVES – because they self-proclaim their endorsement of your brand, your products, your service, and/or your company – they are VALUABLE. You cannot buy this type of customer.
Treat Facebook Fans Differently
It is enormously important to recognize that these Facebook Fans need to be treated differently. The true benefits lie in the company’s ability to actively engage this customer and provide meaningful value.
Examples include:
- Provide them links to helpful info – and make them available only on Facebook.
- Offer personal customer service contacts such as a phone number that is actually answered live, instead of auto-prompts.
- Tell success stories about individual customers (Facebook Fans) – and post them on Facebook, the company’s homepage, etc. Recognition makes for loyal customers.
Now these Fans have something of value to tell others about, and unwittingly become your Brand Ambassadors! These customers that engage are considered high-value.
But what is the monetary value of a Facebook Fan?
The Average Value of a Facebook Fan
According to EContent Magazine, Syncapse Corp., a Toronto-based social media management software provider, studied and quantified fans’ and nonfans’:
- Product spending ($71.84)
- Loyalty to a company ($43.71)
- Propensity to recommend a company ($13.57)
- Brand Affinity and Earned Media Value ($6.79)
- Acquisition cost ($47)
The total value of a customer who is a Facebook Fan is worth the sum of all these: $136.38 more than a customer who is NOT a Facebook Fan.
What is the total value of YOUR Facebook Fanbase?
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For more resources, see our Library topics Marketing and Social Networking.
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ABOUT Lisa M. Chapman:
Ms. Chapman’s new book has a name change! The Net Powered Entrepreneur -A Step-by-Step Guide will be available very soon. With offices in Nashville Tennessee, but working virtually with international clients, Lisa M. Chapman serves her clients as a business and marketing coach, business planning consultant and social media consultant. As a Founder of iBrand Masters, a social media consulting firm, Lisa Chapman helps clients to establish and enhance their online brand, attract their target market, engage them in meaningful social media conversations, and convert online traffic into revenues. Email: Lisa @ LisaChapman.com