Tuesday | Uncategorized
Smart marketers invest in social media — specifically, the development of communities of passionate followers — for a lot of reasons intrinsic to the success of their brands. Engagement. Involvement. Reward. Satisfaction. Loyalty. Referral. And while there’s obviously great value in this type of customer relationship, putting a price tag on a social media “fan” has proven donkey-tail elusive. Until now.
According to an extensive study by the research firm Syncapse of more than 4,000 Facebook followers of 20 national brands — including Coca-Cola, Nike, Blackberry, Nokia, Victoria’s Secret, Starbucks and McDonald’s — the average “fan” is worth $136.38 to its brand. How so? Let us count the ways:
1. Brand followers will on average spend 33% to 250% more annually than non-fans.
2. Brand followers are 28% more loyal than non-fans.
3. Brand followers are 41% more likely to recommend and refer than non-fans.
NOISE has championed social media since almost day one — and embraced its potential with the development of Vwallah! Social Media and QwickClick Online Videos. And while each brand’s fan value may of course vary, knowing you can always default to research and multiply your legions by $136.38 per person should be welcome news to innovative marketing directors — as well as nay-saying bean counters.
SOURCE: NOISE, Syncapse, Gigaom
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