What’s the value of a social follower? And does a fan on one platform, and their actions therein, have more value than that of another?
It’s a contentious issue. Moreover, are fans acquired by a promotional campaign, such as Facebook cost per click (CPC), less valuable than those who are attracted organically?
Tapping into the latest research, Imbue Marketing have taken a closer look at the value of social following in this attractive infographic.
Key takeaways include:
- 47 percent of customers are somewhat more likely to purchase from a brand that they follow or Like
- 63 percent of companies say social media has increased the effectiveness of their marketing
- A share on Facebook is the most highly-prized action in social media, with a value of $14, ahead of a Facebook Like ($8), Twitter tweet ($5) and Twitter follow ($2)
- Moreover, Facebook fans are cheaper to recruit via a promotional campaign, with an average cost per Like (ALWAYS the key metric, as opposed to straight CPC) of $1.07
- Meanwhile, a cost per follower on Twitter is a somewhat heady $2.50-4.00
These numbers are averages and it’s fair to say that your experience may vary. Having done hundreds of Facebook promotional campaigns, my own rule of thumb for the average price of a Facebook cost per Like is closer to £1 GBP, which is approximately $1.56, around 50 percent more expensive than the level suggested from this data. Campaigns vary and many are cheaper than this; many others, in the meantime, are more expensive. I personally think the actual cost of a Like is higher. And it’s also my view that a Like gained via CPC has an equal value to a Like gained organically, as long as the ad campaign used to attract that Like was accurate and above-board.
I’d be interested in your own experiences – hit the comments to let us know.