Amazon.com, Best Buy, Target and Walmart all enjoyed a boost in their brand visibility as a result of social media promotions this holiday season.
That’s based on an analysis by Buddy Media and comScore, which compared paid ads versus earned media for the aforementioned brands.
Their findings somewhat contradict other holiday shopping season statistics that suggested social media had less of an effect.
Buddy Media Chief Executive Officer Michael Lazerow discussed the findings with comScore Chief Marketing officer Linda Abraham at the Digital Life Design conference in Munich, and provided a recap of it all in a blog post today:
The data shows that earned social media impressions can stack up favorably against paid ads for brands who maximize their efforts. Using an estimated value for earned impressions of $3.55 cost per impression, Walmart earned $417,000 worth of impressions while Best Buy earned $86,000 in impressions.
Promotions can significantly expand the viral impact of social media to friends of fans. When looking at the lift received from promotions that started in November, all four brands received a lift of 2.2x or higher. Target received the highest lift between October and the end of November at 3.5x.
For most retailers, a significantly higher percentage of fans and friends of fans visited the retailer’s website, as compared to the rest of the Internet. A whopping 64 percent of Amazon’s fans visited Amazon.com, compared to 27 percent of the total Internet. For Best Buy, 18 percent of fans and 13 percent of friends of fans went to BestBuy.com, compared to eight percent of the total Internet.
In the presentation, Lazerow and Abraham said that Facebook now accounts for one in seven minutes spent online, while social media overall accounts for one in five minutes spent online.
Another point that the two executives included in their presentation: Facebook users spend more time looking at the news feed on the homepage than they do on brands’ pages, which means that promotions need to have a broader focus than just brands’ pages.
Readers, what do you think about this set of findings from Buddy Media and comScore?