What Is the Value of Your Facebook Fans?
Did you know that a BMW Facebook fan is valued at $1613? If you consider the official Facebook page of the company with 13,234,552 at the date of this report, the numbers are simply mind blowing. Imagine how much money BMW’s PR firms, Kwittken PR or Coyne PR would be asking for if they were responsible for even some of this valuation in the digital arena? Wow.
The numbers above were revealed by an empirical study from Syncapse in partnership with Hotspex. The study compared fans and non-fans, based on brand loyalty, spending, media value, brand affinity, propensity to recommend and cost of acquisition; and concluded that fans are much more active in social media, and more likely to be fans of other pages, while non-fans have fanned 10 or less brand pages.
“With this study, we applied stringent research methods to benchmark and measure the differences between users who have ‘liked’ or “Fanned” a brand on Facebook [fans] and those who have not [non-fans], to determine their business value,” explained Michael Scissons, founder and CEO, Syncapse.
For marketers, such a study can offer essential business intelligence to allow them to cultivate new and existing fan relationships, and encourage fans to become consumers and evangelists. To nurture these relationships, to drive action, and to gain even more active fans, Syncapse suggests using existing customer touch points – i.e., microsites, product packaging, time of purchase, and customer service interactions – to convert brand users into Fans.
The study examined 20 top global consumer brands, including Zara, Levi’s, Coca-Cola, Disney and others – and revealed very interesting statistics for each. It is important to note that the first study of this kind was conducted in 2010, and that the value of a Facebook fan has increased an average of 28% to $174 since. To see the complete details of the study, visit the official Syncapse website, and download the Value of a Facebook Fan 2013 whitepaper.