What’s a Facebook Fan Worth?

You have a Facebook Fan Page to promote your business. You've got some fans and want more. But it requires time, and you have a business to run.

You have a Facebook Fan Page to promote your business. You’ve got some fans and want more. But it requires time, and you have a business to run.

At some point you’ve probably wondered, is it worth it? Even the experts debate the value of Facebook fans. So, let’s see if we can make dollars & sense of the world of Likes, Posts, Comments and Sharing on Facebook.

Give It To Me Straight!
The Syncapse study showed, “The fan base of a brand is unique and comprised of different levels of influencers and customers,” The average fan value is $136.38, but it can swing to $270.77 in the best case or go down to $0 in the worst.

Forrester Research has done some of the best work on this topic. So, let’s peek inside their results.

Fans are more likely to purchase, consider or recommend the brand they have “Liked”.
The odds of a fan actually making a purchase are much higher than for an average customer.
Fans are much more likely to talk about a given brand to their friends and family.

Case Study: Best Buy
Forrester reports Best Buy Facebook fans are literally twice as likely to buy from or recommend the retailer. 79% of fans made a purchase in the past 12 months, versus 41% on non-fans.

Going further Forrester says, the average Facebook fan spent $368 at Best Buy in the 12 months prior to the survey, compared with $150 by a non-fan.

Forester goes on to say that even friends of fans were likely to spend more than shoppers not engaged on Facebook.

Increase Facebook ROI
There are 2 things businesses can do immediately to increase the return on their Facebook page.

First, make it fun & interesting. Don’t just promote your brand. Post real-world stories, funny photos or pose a thought-provoking question to get feedback.

Second, reward fans for being fans! Use Facebook Tab Applications to offer coupons, hold a contest or sweepstakes. You’d be surprised at the response.

Your Next Best Customer Is Connected to Your Current Customers.
Tab applications are powerful. They can require fans to share your offer with friends, or even require a certain number of friends to Like your page before the Deal Is On.