Social Media is HOT! Even so, not that many Small Business Owners are realizing that it’s here to stay, as 75% continue to ignore it. Whether you believe there is huge value and potential in connecting with clients and prospects via Social Media or not, there is still a question that everyone wants to know the answer to…
What is the value of a Facebook Fan? What should I expect my Social Media ROI to be?
Here is a little insight from Insurance Marketing expert Chris Jordan:
“One big reason that some agency owners are hesitating to become active online is the question of ROI. What is it? What is the potential? The truth is, nobody really knows at this point.”
To put a value on a Social Media connection such as a Facebook Fan or Twitter follower is a great idea in theory, but in practice, it’s very hard to measure.
Here’s a question that might put it in a little different perspective:
“How much would you pay to acquire a new Facebook Fan, Twitter Follower, or Email List Subscriber?”
Think about that for a moment. If you have an answer, it would be really awesome if you’d share it in the comments section below. The reality of ROI from Social Media is that it’s definitely worth something or else companies wouldn’t be doing it. In most cases, what you get out of Social Media is dependent upon what you put into it. With the right strategy and Internet Marketing Engine, you can engage your Social Media connections, and ultimately develop them into connections that will be more likely to result in real revenue as opposed to just impressions.
If you are willing, we’d appreciate you taking a moment to complete a survey that we are conducting related to Social Media Marketing. Just click the link below to get started.
Want some help or need some advice on how to make this happen. Get in touch with us we’re here to help.
You might also like some of our other related content:
Hi!
I found your site from WooThemes. In any case, when I read this post, it reminded me of an article I read a couple months ago about the actual monetary value of a Facebook fan. A company did a whole in depth analysis and study of how much fans are worth…. their results were that each Facebook fan is worth approximately $3.60.
Here’s the article: http://www.adweek.com/aw/content_display/news/digital/e3iaf69ea67183512325a8feefb9f969530
This is before you add some things that can change their value, like brands that manage their relationships with customers very well.
Interesting, eh?
HI Stacy,
We’re glad you found us. We saw the Adweek Story you referenced and have read the Vitrue Study as well. The information was interesting, but it seemed to be based on a “Big Business” context. While the results they came up with may apply somewhat across the board, we are wondering what the value may be to small businesses and organizations like yours, for example, that provide temporomandibular joint disorder patients with hope. We think that in many cases, the value of a social media connection may be much higher than the findings published in the study. And in some cases, the value of those connections is probably a lot less. If you’d take a moment and complete our Social Media ROI Survey that we’d appreciate it. There is a link to the survey in the How much ROI should I expect from Social Media post.
We really like what you are doing for others at TMJ Hope. I’m going to send you an email about some things that I noticed that may be opportunities for you on your site. If we can ever be of assistance to you please let us know.