With 800 million Facebook users, its not easy putting a real dollar amount on your social media fans. There are several variables to take into account as well as a great deal of non-monetary value associated with your social platforms.
Facebook marketing has become an essential tool in building a brand’s relationship with its customer’s. Making the most out of these relationships can help you leverage your brand’s connection with its fans. This can be a valid marketing channel and may be the most valuable aspect of the social network. In turn, the more relationships you have, the more valuable Facebook can be.
Then we must ask ourselves, how much effort should I put into my social marketing? Facebook is great to have someone “like” your company or “follow” you, but what is it really worth?
We recently took a look into SumAll, a data visualization startup that recently launched a new analytics tool that uses data from Facebook and Twitter accounts and reveals their return on investment for social marketing.
We ordered their report for a client and found that each engagement on Facebook was worth 1 cent and every instance which someone actually recommended the product was valued at $1.07. By using these tools, the company was able to leverage the data and make better decisions on social marketing as well as long-term investments. These analysis reports are customized on individual basis but if you are in a situation where this information would be useful, SumAll is a good start.
Why Invest In Social Media?
Social media is an increasingly important component of any internet marketing campaign. Not only does a well-developed social media strategy help foster meaningful relationships, but also offers positive SEO benefits that can help your rankings.
Comparison on The Amount A Non-Facebook Fan Spend to a Facebook Fan
Be On Target
You must be the eyes and ears of your business in an ever-changing social media landscape and give a dominant voice in your industry. Both Google and Bing have confirmed that they take tweets, likes, shares, and even the “social authority” of a user into consideration in their search algorithms. With over 800 million users, there are officially more users on Facebook than there are people in North America.
Our Approach
Our company meticulously tracks all key performance indicators of a social media campaign while keeping the “social” aspects of social media marketing in mind. A great social media strategy isn’t just about numbers and measurable factors – it’s about relationship building and sharing information. We view social media marketing as not simply a method of promotion, but a vital channel for customer service. Interaction through social media encourages a genuine connection between a brand and its customers. By hiring a social media manager you can count on us to stay vigilant to capture every opportunity to cultivate those relationships.
Whether your goal is increasing brand recognition, igniting your community, or simply attracting more likes and followers to your social media accounts, you will need to develop a custom social media marketing strategy that’s right for you. We can help, start today with giving us a phone call.
Now I Know Its Important, Where Do I Start?
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