31 Aug What Are Your Social Media Fans Worth
There is an on-going debate right now between marketers and advertisers desperately trying to quantify the value of social media marketing. There have been several proposed models but each one seems to have their weak spots. It might make you wonder if it’s even possible to really go beyond your fan and follower numbers but most professionals use these as the measuring stick.
A recent article on The Next Web discusses two different theories on how to judge the value of Facebook fans. It’s a very interesting article for those wondering what their fans are worth. In the end, it may just be impossible to really tell how valuable a fan is or maybe it’s impossible to apply a universal method of finding their value. The argument that social media fans and followers are not as valuable as traditional media viewer is hard to accept. All one must really do is think about the terms in which the audience receives the message. Social media delivers a message to someone because they have opted-in to receive that message. Television commercials and billboards are still interrupters. They are forced interactions. I believe, along with many others, that this is indisputable when it comes to arguing value.
The problem with this argument in the eyes of the social media naysayers is that there is no way to determine why someone becomes a fan of anything on Facebook. The truth is that fans and followers should be judged on individual accounts. Unfortunately, this makes it almost impossible to put an overall value on your entire fan base which is why a lot of marketers don’t care for social media.
The big difference between social media fans and a commercial viewer has to do with potential. A social media fan is more likely to spread your message than a commercial viewer for two reasons. The first being that they have opted in and already associate themselves with your brand. The second being they are receiving your messages on a platform in which they are already participating. I’m not sure how marketers can argue against that.