With social media breathing in fresh air to online businesses, the fans are no longer confined to sports or icons; it has hit the business circuit. The loyalists of a brand, who in turn, are social media buffs, spread the buzz about a brand, helping it to grab eyeballs and earn visibility. The Facebook fans can do a lot for a business and it is the count of the fans, which has the potential to make a brand to soar in popularity. This, in turn, will help in increasing the revenue of the businesses and beat the competition in a respective industry. For building up the customer base and for spreading brand loyalty, Facebook fans chip in with their crucial role.
Emphasizing on the Worth
A Facebook fan is worth $174 to a brand, with the figures rising from 28% since 2010, according to the reports of a social media marketing firm of repute.A research was carried out and based on the data collected from more than 2,000 U.S. panelists; some useful insights can be gained about the fans of a brand in one of the top networking sites, Facebook.
The study engaged in making a comparative study based on Facebook fans and non-fans. The emphasis was put on their pre-purchasing and post-purchasing behavior along with other parameters and how it helps in making a brand known more to the people. The areas that was emphasized on was product spending, brand loyalty, inclination to recommend, media value, brand affinity, cost of acquisition- which together enabled in arriving at a figure, which is $174 and it is an average figure. The value is susceptible to change depending on the worth and credibility of different brands.
Why a Brand Fan is so important?
A brand fan is very active on social media than non-fans. It has been observed that two-thirds of fans follow 10 or more brand pages, which is not to be found when checking out the graph of non-fans of a brand and the figures of brand association got as fans got to be less than 10. It is one of the exciting news that 75% of the fans opined that they are going to spread and share their brand experiences with Facebook friends. So, in other words, what social media does is that it empowers people who become the chief instruments in promoting a brand indirectly.
However, the e-businesses should also keep in mind that the fans are also more to openly share their bad brand experience. So the fans have the power to make or break your brand, hold up or plummet down its image. The social media fever catching up with the potential purchasers who are a part of the social networking world in the virtual realm, it is the reviews, ratings and recommendation which have become the watchwords that govern the buying decision of the potential purchasers.
Hooking more Loyalists
There is greater urge among the prospective buyers to be a brand’s fan if they have purchased once. However, the concern for e-businessmen is repeat purchase and social media is the best place to make the customers that a brand has already locked in to be updated with the new arrivals, updated offers and the like. The challenge is to turn a first buyer into a fan and holding on to the buyer for long for boosting up the sales figure. The Facebook fandom can definitely add on more value for the advertisers and the e-sellers if they learn the trick of how to play their cards well.