A Facebook Fan has a $136 Value or Worth to Companies!
Bloggers can now Translate Posts into Value!
In a study released today by Syncapse entitled: The Value of a Facebook fan an Empirical Review a Facebook fan is worth about $136….with a range in value of $0 to $270! What does this mean to YOU as a fan or liker on facebook? What does this mean to YOU if you are a blogger? Here’s my opinion.
A little background coupled with Still Blonde’s intepretation.
Syncapse studied Facebook fans and came up with several major conclusions:
1. An average Facebook fan can be worth about $136 on average to a company based on various factors such as brand line equity, purchase value of product, product lifecycle and product category .
FAN on Facebook: You are an important commodity to the Brand. They should treat you as such.
Blogger: The fans that you are able to drive to a company’s Facebook allow you to provide value and as such, make your blog and brand worth more.
2. Facebook Fans spend $78 more per year on your brand than non-Facebook fans. Can you say WOWZA? Of course, various factors impact the average number as well including brand health, product health, sales penetration and Facebook Marketing success. If you view the charts in the Data in the Syncapse Study, the amount spent by fans versus non-fans is significant!
FAN on Facebook: The brands you favorite might start offering you more freebies, contests, discounts. They will soon realize that YOU are their best customer.
Blogger: The brands that you expose your readers to need to respect your readers and your blog as a viable part of their marketing arm. Both your readers and your Blog provide them value.
3. Facebook fans are more likely to keep using a brand than non-fans. 28% more likely! Both short term and long term marketing efforts influence this finding.
FAN on Facebook: What brands you favorite are affecting the brands you buy.
Blogger: If your readers are gaining exposure to a company’s Facebook via your blog posts, the readers will benefit if the brand is truly for them. Your blog will benefit, as the readership that you provide to brands, can make your blog worth more!
4. Fans on Facebook are 64% more likely to recommend the product versus 28% for non-fans. It would appear Facebook can really contribute to the viability of your brand and help spread that “word of mouth” marketing that we so often hear about.
FAN on Facebook: I guess we are what we buy!
Blogger: If you can expose your readers to brands that make their life better or easier, your blog will flourish. Your readers will return and so will the companies.
5. 38% of respondents indicated they will become a fan of a product if a friend or close family member does.
FAN on Facebook: As usual, I find we often trust those who are close to us over a stranger’s point of view.
Blogger: This may be the most significant finding of all. If your readers, see you as a friend then your recommendation will influence them for a brand. This is an awesome and mighty responsibility. NEVER take it lightly. That’s why I will not review without a review product and I will not recommend ANYTHING that I wouldn’t buy myself.
6. Just being a Fan on Facebook makes 81% of people feel like they have more of a connection with the brand over 38% when they are not a fan.
FAN on Facebook: DUH! That’s we you keep “Liking” them.
Blogger: Your readers will look to you for good recommendations on brands they can relate to. Brands will look to your blog to introduce your readers to products and services that will appeal to them–even if they don’t realize it!
WOMEN OVER 45–As one of the largest and most influential market segments in the consumer area today, your Facebook choices will change the marketing landscape for tomorrow. VOTE with your LIKES!
What does this research mean to YOU? Leave me a comment. I’d like to know!
Update: For update information: WebPronews looks at various studies 6-23-2011
Blog Note: The Chief Blonde was not compensated to for this post. The interpretive opinions are her own.
Category: blogger's worth, Blogging/Web
Hi there. Coming over from the Blogmania blog hop. Following through GFC.
Interesting information. I love facebook!
Thanks for sharing. I have to work on my 'likes' on
Thanks Jacque!
Very interesting! I actually have more fans on Facebook, and wonder haw to import those FB Followers to my site?!
Karena
Art by Karena
Excellent post! Very informative and good to know. Thank you!
Oh Karena and Gigi, Glad you found it interesting!
This was certainly eye opening! Thanks for the post & the report in PDF format. I'll need to read it completely when I have a spare moment (which will likely be never, but I'll make time!).
It means I was thinking along the right lines when we launched our current I LIKE AUGUST promo. Personally, I see brands EVERY day that I fall in love with, bookmark, and shop at that I might never have seen if it were not for page suggestions!! I think many people overlook this valuable tool – LIKE and then SUGGEST, SUGGEST, SUGGEST!!
Very interesting article and brings up a great amount of points. I am so very glad I became a part of Gina’s PR Online August Like. Thanks again for a great read!