Face It, Facebook Just Works!
The opportunity to receive discounts is the number one driver for consumers to “like” a brand on Facebook, according to a new study from ExactTarget and CoTweet.
Data from “Facebook X-Factors” indicates that the highest percentage of consumers (40%) are motivated to like a brand on Facebook by discounts and promotions. Almost the same percentage (39%) is motivated by showing support for the brand.
Getting free samples or coupons (36%) and receiving updates on upcoming sales (30%) also tally high on the discount/promotion motivation. Some of the other reasons that people may “like” a brand’s Facebook page include staying informed about the activities of a company (34%), getting updates on future products (33%), and simply for fun or entertainment (29%). Education and interaction (13%) are the least-popular reasons to “like” a brand, by a significant margin.
Results from “Facebook X-Factors” demonstrate that for most consumers, Facebook is still much more about personal, rather than professional, interaction. 63% of Facebook users are there to reconnect with old friends and friends who live far away, while 59% say they use Facebook to maintain personal contacts.
37% of users have a Facebook account to stay on top of their social life. Only 15% of Facebook users say they are there to maintain professional and work contacts.
Other notes of interest include:
* 64% of all U.S. online consumers (and three quarters of Millennials) have created a profile on Facebook.
* 70% of consumers who “liked” a brand on Facebook didn’t feel they’d given this company permission to market to them.
* Only 17% of consumers say they’re more likely to buy after becoming a “liking” a brand on Facebook.
The study went on to calculate that the average value a Facebook fan provides a brand is $136.38, but it can swing to $270.77 in the best case or go down to $0 in the worst, according to research from Syncapse. This value is based on Syncapse analysis of five factors per fan: product spending, brand loyalty, propensity to recommend, brand affinity and earned media value.
On average, a Facebook fan participates with a brand 10 times a year and will make one recommendation. Value can differ significantly by individual brand. For example, in the case of Coca-Cola, the best case for fan value reaches $316.78 but is $137.84 for an average fan. In the worst case scenario, a fan is worth $0.
Shoppers’ Critique International has products and services for developing and growing a Facebook following, for maximizing the value of a Facebook entry and for monitoring relevant and important comments about consumer brands across all platforms of social media.