The most common question I get from businesses is: What is the Return on Investment (ROI) of Social Media? Although ROI is difficult to calculate, there are numerous studies that demonstrate the value Social Media can bring to any company.
While perusing my LinkedIn account I came across an article titled, “The Value of a Facebook Fan.” According to the article, SocialCode, an agency owned by the Washington Post Company “looked at 50 brands and more than 5 million Facebook ads over a five-month period earlier this year.”
What they discovered was:
- Facebook fans are 547 percent more likely to perform a desirable act than non-fans.
- Facebook fans are 291 percent more likely to engage with brand than non-fans.
- Facebook fans make actual purchases at a rate of 7 percent, while non-fans make purchases at a rate of 2 percent.
- The difference in cost per acquisition* between fans and non-fans is $9.56.
- For fans making a purchase, the fan cost per acquisition is $14.88 compared to $43.86 for a non-fan.
The overall impact of Social Media undoubtedly benefits your business more substantially and for less cost than other forms of marketing and advertising. The study by SocialCode is just one example of the thousands that can be found online indicating the benefits Social Media can bring to any business.
Sign up for a free, personalized consultation with Welborn Social Media owner, Zeb Welborn to discuss how we can improve your Social Media presence, meet more customers and enhance the relationship you have with current customers.
(909) 973 -9089
*Cost per Acquisition means how much it costs to convert a sale incorporating all marketing and advertising used to attract clients to a product.