How much is a Facebook fan actually worth?
Social media has allowed brands to connect with consumers on another level. Consumers have changed their buying habits, and companies had to respond quickly. This meant social media sites saw a massive influx of businesses trying to stand out, and build their own social personality.
A few years down the line, and most businesses have some kind of presence on social media, but now the rush of information has slowed down, companies are starting to analyse how successful their social campaigns have been.
A study conducted by Media Post set out to find the true value of a Facebook fan. They surveyed 2000 US Facebook users and compared Fans and non-Fans of the respective brands.
These are the main directives they found as a result of the survey:
- Fans are more approachable
Fans who have ‘liked’ a brand are more open to these brands. This comes as no surprise as surely you’d be interested in the brand, before you ‘liked’ them on Facebook.
Fans are; 80% more likely to use the brand (compared to non-Fans), are 18% more satisfied than non-Fans, and are 11% more likely to continue using the brand over non-Fans.
These figures show how important it is to convert users into Fans. Brands can then reinforce their message and improve the customer experience.
- Fans are more engaged
Again this one comes as no surprise. Brand Fans are much more active on social media, as two-thirds of Fans will be Fans of at least 10 other brand pages.
Three quarters of Fans are likely to share brand experiences, promotions and discounts with their Facebook friends. Brand Fans tend to be users and evangelists, and marketers need to take advantage of their sharing nature. Nurture these Fans and they will help grow your brand for you.
- Fans spend and advocate more
According to the study, Fans spend around $116 more per year compared to non-Fans. 85% of Facebook Fans are likely to recommend the brand compared to 60% of non-Fans.
Marketers need to determine which Fans are customers, and must learn how to segment the two groups. This way, marketers can focus relevant content and offers at customers who are engaged and likely to spend more.
From the above statistics you can see how important Facebook Fans are. Social media marketing should be at the front of your marketing strategy. The insight from the study only highlights how Facebook Fans need to be treated differently to non-Fans.
Ultimately, having a social media presence comes at a cost; time and effort needs to be poured into social media, in order to build your brand and customer experience. Social sites are proving themselves to be worth it.
Amy is our Campaign Manager and works with our clients to ensure all campaigns follow an effective campaign strategy and produce results.