Archive for June, 2010

How much is a follower worth?

Wednesday, June 23rd, 2010

Ever wonder what your followers are worth? After all, with each follower you gain, you get a targeted, engaged consumer eager to hear what you have to say. Everything you tweet is delivered directly to them, they can respond directly back to you, and you can reap enormous benefits by exchanging information with your followers in real time. If you’re a brand or a business, then your followers are a self-selected group made up of customers and potential customers. So, to ask our original question another way: How much is it worth to you to be in constant contact and communication with your customers?

eMarketer reported on a new study on Monday measuring the value of a Facebook Fan at $136.38.  The study found that “fans” of a business spend substantially more money with that business over time than non-fans. The study looked at a diverse group of brands, ranging from Nokia to Nutella, and regardless of their market segment, they were all able to see markedly greater value in their fan customers, including larger and more frequent purchases, greater propensity to recommend the brand and increased brand loyalty.

What does this mean for you, a tweeter trying to grow your following and increase the reach of your message? This study demonstrates the value of communicating with your customers in a high-engagement forum. Twitter and Facebook provide unique opportunities for you to build a dynamic relationship with your customers in which you can speak directly to them and they can answer you right back.  The result of these relationships is that your customer “fans” spend more money than their non-fan counter parts. Whatever social media platform you use to interact with your customers, it is crucial that you foster engagement with the fans most relevant to your business. It is those targeted fans who will track your communications day after day, and who will appreciate the true value of your brand.

What differences have you noticed in your follower-customer base compared to your non-follower customer?