Value of your facebook & twitter fans [infographic] (#socialmedia, #sm, #trends,#facebook)

The most heard question you hear about social media talks about "why would we need to invest in it". Well, for those that aren't yet convinced, here is a study of Syncapse about the value of a facebook fan compared to non-fans. get convinced now...

The green bars on the left indicate the average spending of people who have become fans of a brand, the red bars are those that aren't fan of your brand. The bars in grey on the right indicate the difference...

 

 So still questionning if you would need to join the social landscape? Well, if you could earn twice as much money on your customer by just connecting to him or her, would you do it?

some other stats out of the Syncapse report:

• Fans are 28% more likely than non-fans to continue using the brand
• Fans are 41% more likely than non-fans to recommend a product

download full report here

 

Comments

[Kandy]

I'd be careful inferring causation here (Correlation does not mean causation). It's more likely that people who love your products/services and spend more on them become your company's fans on FB. It's less likely that they started spending more on your products because they became FB fans (sure, those promos helped a bit, but...). So your limited budget may be better off spent in making your product/service more loved by more people (e.g. improving your product/service) than on FB fan pages.

[Salvatiry Carlino]

Kandy shared a good point there. The usual customers may have become fans of the FB page after having spent that much on their products and services. There is a chance that people would become fans of a certain business through FB and other social networks before actually purchasing anything. But that isn't always the case. Social networks could be used for sharing updates to the customers and catering to the potential target market.