Social Networking Arizona: Value of a Facebook Fan
Many businesses have caught on to the recent popularity of social networking in Arizona. The businesses that are smart are taking advantage of this popularity and reaching out to their customers through social networking sites such as Facebook. The question we will answer in this blog post is: How much is a Facebook fan actually worth to a business?
A social media measurement firm named Syncapse recently tried to answer that question and was able to come up with a dollar value for a Facebook fan. According to Syncapse the average Facebook fan is worth roughly $136.38.
Syncapse surveyed 4,000 fans of 20 of the largest brands on Facebook to come up with this figure. The largest brands included companies such as Victoria’s Secret, Nokia, BlackBerry, Nike, Adidas, McDonald’s and Starbucks. Syncapse asked these fans why they became fans of these companies and about their past purchases. They then tried to estimate the approximate value of an average fan’s spending on a company as well as the value of having that fan as a customer over an extended period of time.
The key findings of the study are very likely to please advertisers and marketers that have been pursuing a social networking in Arizona strategy. According to the study:
- On average, fans spend an extra $71.84 they would not otherwise spend on products they describe themselves as fans of, compared to those who are not fans.
- Fans are 28 percent more likely than non-fans to continue using a specific brand.
- Fans are 41 percent more likely than non-fans to recommend a product they are a fan of to their friends.
The conclusions that this survey has reached are not exactly shocking – after all, one would most likely assume that if someone becomes a fan of a business on Facebook, that individual would be a larger supporter of the business or brand and be more likely to purchase their products and recommend it to their friends. However, the information released in this survey and has to be quite interesting to social networking marketers in Arizona.
For more information about social networking in Arizona, contact KEO Marketing.