Dive summary:
- Social intelligence company Syncapse conducted a study to determine why people become Facebook fans of a brand and what the value of a Facebook fan actually is; the study determined 78% of Facebook fans were already consumers of the brand.
- These findings suggest that brands should focus on converting existing customers on Facebook rather than gaining new ones.
- Syncapse warns that acquire Facebook fans through discounts and coupons will lower the value of each follower significantly.
From the article:
"Syncapse took into account several factors in its study including spending, loyalty, propensity to recommend, earned media value, acquisition cost and brand affinity when answering this question. The total value of a fan based on these factors is estimated to be $174 – a 28 percent increase since 2010."
