Recently, a lot has been written on the value of a Facebook Fan. Some claim that they're worth as much as
$136.38
, while others claim the figure is merely
$1.07
. So who's right?
The answer is that it depends. For starters, the value varies from company to company -- and even within a company, the value of each fan can vary widely. But regardless of that variation, there are three things you can focus on to maximize the value of your organization's fans.
3 Ways to Maximize the Value of Your Facebook Fans
1. Propensity to Evangelize - Are your fans helping you grow your business? Make sure you're sharing remarkable content on your fan page to encourage your fans to interact and broadcast your message to their networks. Keep track of the impressions and feedback scores for your posts to see what works for your business. At HubSpot, we've found that asking a questions whenever we post an article encourages people to engage and share the article with their networks.
2. Consumer Loyalty - In general, the more engaged a customer is with a company, the more likely they are to purchase from that company again. A great way to make someone feel engaged is by establishing personal relationships with them. We try to respond individually to every question on our page as soon as we can to nurture that type of relationship.
3. Product Spending - Are your fans buying what you're selling? If you have a lot of fans but not a lot of customers, then you might consider putting more direct offers in your page. Including a promotion or special offer on your page that's exclusive for fans is a great way to convert them into customers.
Marketing takeaway
It's important to consider how your Facebook fans are adding value to your organization. While the value can be a difficult number to pin down precisely, there are certain strategies you can utilize to make sure you're leveraging your Facebook Page to add the most value to your organization.Image via Media Logic .
Inbound Marketing Blog Feed
Stick Figure 2:43 PM on March 18, 2011
This is really a B2B related article but I think the same principles can be applied to all fan pages whether it be a company, website, artist, musician, etc. As a musician, many of the ideas you mention are still very relevant. Thanks for sharing.
David 11:32 PM on March 19, 2011
Fanpage to me is a viral trigger and I really like how your article articulates it with the 3 Ways to Maximize the Value.
Thanks for sharing!
Mark Etsemov 12:01 PM on March 20, 2011
Great question and discussion topic. To a large extent, the value of a Facebook fan is what you make it. It's best to look at the Fanpage as a garden where inactive fans are 'weeds' to be culled out and active productive fans are cultivated to help your FB site blossom.
Just don't go to heavy on the fertilizer.
Jonathan Deville 4:35 PM on March 20, 2011
I agree with your statement on consumer loyalty but I think Facebook allows us to even go beyond the simple consumer loyalty and help us to build a complete brand community that live and has feelings. The social era transformed the relationship in a 2-way relation where companies have also to be loyal to their customers!
Hartley Brody 7:10 PM on March 20, 2011
Jon, that's a great point. Company-consumer loyalty is a two-way street
Abhishek Syal 12:19 AM on March 21, 2011
Insightful article!
Is there any other article which deals with twitter?
Russell 5:24 AM on March 21, 2011
Facebook doesn't work good for all types of business, same is true for Facebook ads.
Ross Davis 9:39 AM on March 21, 2011
Good information. You determine the value of your Facebook Fans in how you treat them and what you provide them.
Krissy 12:22 PM on March 21, 2011
Sometimes it can be difficult for businesses to conform and understand how social networking sites can be beneficial to their traffic.
Great information on how use to use the facebook fans to your advantage. Thank you!