The price of gas is going up. The price of milk is going up. And now, just like everything else nowadays, the value of a Facebook fan is also going up.
According to a new Syncapse study, that value is now $174 per fan to a brand. This is up a healthy 28% since 2010.
Syncapse, a marketing firm, worked with research firm Hotspex on a survey they formulated which was based on data collected from more than 2,000 panelists in America earlier this year.
It included a litany of factors, including: product spending; brand loyalty; propensity to recommend; traditional media value; cost of acquisition; and brand affinity to arrive at the figure. These factors were posed in the study to both Facebook fans and non-fans. The results of the survey are based and how the fans and non-fans responded.
A caveat though, $174 is an average figure. The real value can vary, depending on the brand.
The reason? Simply, a higher average purchase price for more premium products makes a fan more valuable.
Also of interest coming out of the study was the contrast between fans and non-fans. It discovered that fans of brands are much more active in social media. The average fan is an enthusiast of 10 brand pages. Conversely, nearly two-thirds of non-fans follow 10 or less brand pages.
The study also found that three quarters of fans are likely to share good brand experiences and share promotions and discounts with their Facebook friends. (That’s four quarters of fans who are fans of brands managed by The Brandon Agency!)
This is all very interesting data for brands to process.
And it also shows what we here at The Brandon Agency have believed about social media from the get-go. Social is a realm to build a base of loyal followers, provide useful content they can’t find elsewhere and give great customer service.
When these key things are done properly, brands, and fans, both reap the benefits.