What is the value of a Facebook fan?

My friend Yael Rozencwajg (Yopps) and I created this infographic to explain what is and wherein lies the value of a Facebook fan. The short story is that there is no way to place a single value on a fan. The answer is that “it depends.” Not only are some fans worth more than others, but the way you build up engagement on your page makes the value of a fan more or less potent. While this infographic is directed toward Facebook, the concept is equally valid for any social media strategy and other social media platforms (Twitter, Google+…). In any event, ultimately, the value of your fanbase depends on how much you truly care about your customers.

What is the value of a Facebook fan? by @yopps & @mdial on Twitter

Please let us know your comments!

UPDATED: for those who would like the PDF, I’ve put it up on slideshare here.

Comments

  1. Good that we start to see infographics in this area that paints the true picture, as opposite to the recently popular “Fans are worth $XY”.

    The next question is then how to attribute our actions to the actual sales, how to we find and measure the channels that assist leads?

    Throwing out tracking linka on all your lead gen links wont paint a good picture as it wont take into account that forum post where you resolved a problem…

    The future way of doing it is prob something like this 1) measure the relevance of your content/activities 2) use multi channel funnel web analytics software 3) attribute 1,2 to your hard sales numbers

    Just me thinking out loud again…

  2. Indeed, this is the next level, one might say, Joakim. The ability to link one single action to a dollar sale is unrealistic; and it's unlikely to hold true. With point 1, digital teams need to establish objectives and goals that make sense… Then applying multi channel funnel analytics can be layered on top of those goals. …

    Makes me think of Ford Explorer's programme which was very tight and right in funneling prospects to the Facebook page, and then inciting them to come to the institutional site for a Build & Price… with greater level of engagement… some of which successfully led to sales.

  3. The generation Y is into the addition, the one of experimenting simultaneously diverse job experiences and social media reflect this situation. Great picture, a good start for a conversation.

  4. Hello there – I came here via the comment you left on my blog. Nice infographic.

    Regarding your point on “Value vs Values” – I would think the acquisition cost is very important in determining value (I use the term ‘value’ here as similar to ROI). If your acquisition cost is much higher than the revenue you derive from the fan, then you are not getting much value from the fan.

    • You are absolutely right that, when investing in Facebook ads etc, the cost of acquisition must be understood in the calculation of an ROI. There is still much work to be done to measure the real “cost,” including the human resources, much less the “return” on that cost/investment…

      Rather than focus on the cost of acquisition, I tend to privilege aligning the content (i.e the editorial line) such that the fan growth comes organically.

  5. The future way of doing it is prob something like this 1) measure the relevance of your content/activities 2) use multi channel funnel web analytics software 3) attribute 1,2 to your hard sales numbers
    Just me thinking out loud again…

    • With good sense Martin! Easier said than done, as yet. It takes vision, experimentation and rigour… but, I'm sure we'll get there soon enough.

  6. I was recommended this website through my cousin. I’m no longer certain whether or not this publish is written by means of him as no one else understand such specified about my problem. You’re wonderful! Thank you!

  7. These days,there is a great trend of Facebook.With each passing day this trend is getting more and more.People are using it for running their business in all field.In this current period as mentioned in this article. It is playing a great role for the development and advancement of society.

    • And the growth has not let up yet… despite many new pretenders on the block… Time will tell as to how Facebook manages the transition into a money-making machine versus the builder of a loyal and happy "community."

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