The True Value of a Facebook Fan

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Well companies close early like this -- you're -- like this to when it comes to face that one study shows that you value of the space but.

To companies by taking a look at how much each individual -- Is actually worth took the particular company joining us now it's Michael citizens CEO and president.

As syntax the company that did the study were happy to -- -- -- -- thank you both for having me you know I think it's fascinating is that you've been actually able to come up with a way.

To calculate the value of -- FaceBook fan you did the back of the envelope.

Calculations.

You you have all these criteria.

And a grand total is at FaceBook fan is worth a 136.

Dollars and 38 cents.

First of all that's astounding that's a lot of money to it to companies out there and to how did you get to this explain the.

To us sheriff so we took a look at what's really the same things that you look at with what that customers were to -- So obviously consumers influenced by a lot of different factors FaceBook is one of those important factors.

We did is took a look at how much the consumer spends what the loyalty -- and what the life cycle and thumb was worth.

The overarching organizations so we got that number FaceBook is one of the factors but that direct connection between FaceBook -- that customer that represented -- -- the organization.

You -- even more drill down examples I think everybody can relate to that how much of standing verses in non -- spends at places like McDonald's and Starbucks.

At night he what's the difference in the distinction.

True difference is how much that customer's spending our work -- the organization obviously when you're talking nineteen buying.

A pair of shoes or shirt the value is more than buying a happy meal to the organization but you're gonna -- happy meal more frequently.

So take a look at the factors that are involved in creating that value for for customers and for those organizations.

-- -- special deal doesn't mean what is it that's causing these fans -- -- not I'm not -- lots of different things but that doesn't necessarily mean I'm gonna go out of that you know propensity to spend.

What is it they're do you waiting to attract their fans system.

More money to everyone's doing something different so I'm a benefit for our that doesn't mean I don't afraid Ari Hamas -- don't of course not been put -- down.

That not not part of any IPOs that are going on -- However.

I am a -- of McDonald's I do eat at mcdonalds so I think everyone's -- stands for different reasons and can be special offers -- can be he just loved the brand to want to be part of it.

What what happens by the what's your body has more than one does need to borrow Ferrari that's on the parking lot I was actually and I tried to take if there's -- sent out this isn't an -- yellow.

That's that it -- -- -- Michael.

What happens when the -- turns and and they say something really Roth I mean I find that people complain complete very -- very -- and the good that have a detrimental negative impact turn honestly can't read a lot of situations what you find is.

You have Sony fans of one place this kind of like going to.

You know a hockey game and and wondering and and being I am a member of the opposing team and standing a lot firm saying.

What -- you guys doing I don't want to be part of this obviously the rest of team is gonna say.

What are you doing down of our locker room at the same thing that happens a social media so the fans really are protective of the brands in a lot of situations.

The fans -- -- -- negative actions and kick those people out of communities however it is important -- does stand up and engage in that conversation.

Can -- respond back and forth to the -- help solve their problems.

Because it's also way of communicating with the -- went to the public relations.

Vehicle is well on so many levels customer service relations vehicle -- -- right.

Yeah when I had my you know when -- even on FaceBook Twitter I like golf clubs broken an airline two weeks ago the first thing I did was go to FaceBook and Twitter.

And make a comment now in that case no one responded to me however I would even a significantly happier customer had someone said -- -- -- -- golf clubs.

What is all this mean for FaceBook that this legitimize.

FaceBook -- that business center seeming is certainly it's making a lot of money but desist.

Legitimize social networking and they need for our companies to be on FaceBook and I and Twitter and all of these other site.

Sexual -- -- social networking has changed everything from marketing perspective it's really been that direct avenue to have that relationship with a customer.

So -- -- FaceBook is definitely illegitimate -- channel this point.

It's legitimate -- -- have a direct relationship it's a legitimate customer support channel so FaceBook today is a very legitimate player.

In terms of being a central part of that maintaining and building connections with customers if you're an advertiser or marketer.

While this is great stuff Michael citizens and I I know when your study came out everybody was tweeting about it it got around all the tech Blogosphere -- we're very happy to have you here in -- and keep us posted.

With more developments that you come --

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The True Value of a Facebook Fan

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