How Do You Determine The Value Of A Facebook Fan?
Companies have been debating how to determine the value of a social media contact for years. Today, I’d like to specifically discuss how you can determine the value of a Facebook fan.
Kudos to Ryan Rasmussen for bringing up this subject. Rasmussen states succinctly:
Instead of using an approximate static value of a fan (e.g., $10 per fan, on average, as SocialCode concluded in 2011), it proves the effective value of your program and the unique value of your particular customer segment in taking an action or adopting an attitude that can be tracked back to sales.
In other words, if contact with a Facebook fan doesn’t lead to a sale, then there is really no value in that fan.
Don’t take that to mean that the fan herself must be the one buying your product. The fan could share a piece of your content with her network of friends, and if that leads to you getting another fan or two who purchase your product, the sharing fan proves her value. Is it much? It depends. Do her referrals purchase often, and do they purchase a lot?
I agree that Facebook fans should not be given a blanket static value. This is arbitrary and doesn’t give a true picture of your Facebook marketing efforts.
When it comes to determining value, think a little deeper. Don’t just look at the surface.
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