Research Explores Financial Value of Social Media Fans
For anyone who has ever wondered about the monetary value of having numerous Facebook fans and Twitter followers, some encouraging findings have been released.
Over 50% of Facebook fans and 67% of Twitter followers said that they are more likely to make a purchase from at least a few brands that they follow. This statistic is evidence of the direct return on investment brands can generate when they employ successful social media strategies.
Social media has also proven to be incredibly powerful with regards to word-of-mouth marketing. Those who become fans of and follow brands are significantly more likely to spread the word; 60% of Facebook fans and 80% of Twitter followers say they would recommend brands they follow to their friends.
If the result of increased Facebook fandom and Twitter following is sales, how can marketers grow their social media fans? The most popular reason for becoming a Facebook fan of a brand, chosen by 25% of respondents, is to receive discounts and promotional information. Other top reasons included simply being a customer of the company (21%) and wanting to show others that they like the brand (18%). On Twitter, the top reasons for following a brand were discounts and access to up-to-the-minute information and exclusive content.
The numbers speak for themselves. In this day and age, social media is a necessary component of any brand’s online strategy. Brand loyalty via social media extends far beyond the social media world and into the real world. Nurturing your revenues means nurturing your customer base, and social media may be one of the most cost-effective ways to do so.
Read the full article from emarketer.com here.