Every wonder if your social marketing efforts are worthwhile? According to recent research by Syncapse, “the average value of brand fans in key consumer categories has increased 28% to $174.17.” Based upon our interpretation of this research, social marketing is well worth your effort! We highly recommend that you take the time to review their insights in this research report, Value of a Facebook Fan 2013. However, the specific declared dollar value may be only a portion of each fans value to your business.
As a social marketing apps developer, we come to this party as biased. This comes from continued client validation of ShopTab, our leading Facebook Shop application, which has been used by tens of thousands of retailers. Regardless of our bias, this new research is further evidence to organizations that there is a hard dollar payoff for your participation in the emerging social channel. This new information can be extremely important for organizations that have been hesitant to embrace new marketing methods and channels.
Syncapse provides further evidence (read the report!) that these fans are “super consumers” of your products – they spend more, engage more and advocate for you. We believe this is important information because many companies, especially smaller ones, struggle to segment their clients. The data suggests that social networks, like Facebook, give you an opportunity to segment your best clients inside of a unique channel. If these users are going to buy more, give you more feedback and tell more people about you, shouldn’t you treat them in a very special way? This report reveals excellent validation for you to put a unique and compelling marketing plan together for these social channels to enhance your relationships with your best clients.
As it relates to your Facebook Shop, we believe you can easily leverage this app as a way to facilitate discussions about your brand and products. Some of these discussions will drive revenues but more importantly it can encourage discussion about your products. These prompted or spontaneous conversations can be invaluable for your future product developments. Most people call this “market research” and it is typically very expensive to conduct. We’ve seen tremendous response from fans to our clients that ask for feedback on a product (colors, options or features needed), encourage new ideas for products or a recent example when a client promoted a product before it was produced to determine client demand – how brilliant is that? And extremely valuable!
We suggest you use this report as a call to action to drive more users to become a fan of your Facebook Fan Page. On your Fan Page you’ll need to provide compelling conversation, new ideas and engagement opportunities for these special customers to encourage their participation. Additionally, the use of Facebook marketing (promoted content posts or targeted ads) and other marketing vehicles (website, email, newsletter, print marketing and client center contacts) are great opportunities to encourage qualified individuals to connect with your page. We don’t just want numbers; we want new quality fans that will fit our profile of a hyper-valued client.
What do you think about the research that each Facebook fan is worth $175? Does it make sense to you?