As a marketer, I struggle with the ROI and/or ROE (Return on Experience) of social media. Intuitively it makes sense, but I need cold hard facts to help me believe it. It must be the market researcher in me.
- More than one-half of Facebook fans said they are more likely to make a purchase for at least a few brands, and 67% of Twitter followers reported the same. And…
- Sixty percent of study respondents claimed their Facebook fandom made them more likely to recommend a brand to a friend…this was even higher among Twitter followers – nearly eight in 10.
So if fandom drives purchases, what gets to someone to become a fan in the first place? Well, the Chadwick Martin Bailey addressed this question as well. According to the study, the top reason to friend a brand on Facebook was to receive discounts, followed by simply being a customer of the company and a desire to show others that they support the brand.
Interestingly, on Twitter, the main reasons for becoming a follower (fan) were to receive up-to-the-minute information and exclusive content; only 2% of study respondents followed brands on Twitter to show their support.
So, it seems that regardless of whether you are currently measuring the impact social media on your business, securing fans and followers on social can be a profitable venture for companies. My only concern lies in the belief that the data presented above really only applies to B2C companies, not B2B companies. I hope to provide more support for B2B companies in future blogs.