Measuring The Value Of A Facebook Fan
Syncapse develops a sophisticated framework to measure the value of a Facebook fan.
Syncapse recently put their analysts, SocialTRAC, and various panelists to work and figured out a smart way to assess the value of a fan as it relates to 5 primary categories, including: 1) Product Spending, 2) Brand Loyalty, 3) Propensity to Recommend, 4) Brand Affinity, and 5) Earned Media Value.
20 successful brand communities were included in the research. For all these brands, social media communities (Facebook particularly) form an increasingly important segment of their Internet audience. While the research’s findings should be approached with a level of healthy skepticism, the methodology suggests a scientific, cautious, and sophisticated approach to mining insights.
Here are some key findings on fans in Facebook brand communities compared to non-fans:
- The average fan spends $71.84 on products they Like. This figure varied due to sales penetration, brand health, and Facebook marketing effectiveness
- On average, fans are 28% more likely to continue being a loyal user
- The average fan is 41% more likely to recommend the product/service to their friends. Brands with the highest recommendation rates included Playstation and Victoria’s Secret.
- 81% of fans reported some affinity with a brand they Like
- The average value of a fan is $136.38, and this varies depending on how active a given fan is
Due to the high variability in the success of social media communities and the emergent nature of the medium, articulating implications is perhaps the weakest part of any research, as they rarely offer progress beyond what has already been said about social media channels. This research outlines 4 general implications that re-affirm what others have said about social media effectiveness:
- Score your fan base
- Understand performance of of social channels
- Execute strategies against key factors
- Manage and build off existing trends”
If you are interested in reading about Syncapse’s methodology and detailed report, check out the PDF linked below