What are Facebook fans really worth?

Ah…..   I think I included the wrong image….  Oh well, you get the idea I hope..  I am always looking to understand the value of communities, whether Facebook, Twitter, or any other type of community.  In the past I have seen Facebook fan value defined close to $3.60, but a recent report, based upon the efforts of  a firm named Syncapse, shows fan value as being much higher, especially for organizations that understand social business.  GigaOM did a nice write-up and pointed out the key findings, including:

  • An average fan spends $71.84 more on the products they “fan” then non-fans.
  • Fans are 28% more likely to continue using a specific brand.
  • Fans are 41% more likely to recommend a product they are a fan of to their friends.
  • The average fan is worth $136.38 to your organization.

report from ROI Research Inc. (roiresearch.com),  sponsored by Performics, further explores fan behavior and, to some extent, fan value.  The report surveyed 3000 US social network users and notes:

  • 50% of users fan/like a brand
  • 32% of the users have recommended a brand  on social networks.
  • “Users are not only satisfied, they want more, which is a good sign for marketers,” noted Scott Haiges, president of ROI Research. “Respondents expressed a strong desire to get more printable coupons [49 percent], notifications of sales and special deals [46 percent], and information about new products [35 percent] from companies or products on Facebook, and this rings truer in some industries more than others.”

If you consider the latest Facebook statistics  more than 200 million Facebook users are becoming fans, Liking, brands.  These 200 million users account for $14,368,000,000 (yes, count the zeros)  in additional spend.  I know I could do something with those billions of dollars, could you?

John

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Filed under: Social Business Strategies Tagged: Facebook, metrics, Social Strategies
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