Time has shown that with social media, success is not measured in the volume of friends or fans, but in the increased revenue and ROI (return on investment) resulting from participating in social social media marketing. Not a popularity contest, quality beats quantity. The more relevant the information you provide through social media to your fans and followers, the better your results will be in increasing your bottom line.
The first part of this entry, What is the Value of Your Fans or Followers in Social Media, covered details of the value of fans Facebook and Twitter. Facebook and Twitter are both social media platforms, but interactions with fans and followers can convert customers in completely different ways.
With the ability to measure the value of fans and followers, your organization can benefit from these online platforms for free communication, advertising and customer service. These are priceless resources when used in advantageous ways.
With Twitter marketing, having a high-quality audience is a two-way street. If a non-spammer follows you, it’s an organically gained follower: your information is relevant to them. Do not feel the need to follow each person who follows you. Instead, only follow those whose information is relevant to you. Whether they are seeking out products or services you provide, or are posting information relevant to your industry, the users you follow may be a completely different collection of characters from those who are following you.
Similarly, with Facebook marketing, when someone becomes a fan of your business page on Facebook, there is no need to add them as a friend on your personal page. Unless they are an industry colleague or potential customer, you may never find members of your fan base on your personal friends page, and this is completely normal.
Regular updates and evaluation of fan and follower lists helps you weigh the value of your Twitter and Facebook accounts. The higher amount of fans and followers who fall in your target demographic, the more mutually beneficial your social media relationship becomes.
In terms of monetary value, the impact of your followers can be analyzed and measured from two angles: the point of view of website analytics, and a CPM perspective. Each time a user becomes a fan of a page on Facebook, it becomes front page news on their friends’ home pages, and also shows up in the right hand column, sending suggestions to friends of your fans to also become fans of your page. Because users tend to be friends with plenty of people within their demographic and with similar hobbies and interests, friends of your fans are likely to check out your page and become fans as well. In a sense, Facebook provides a “free” CPM campaign through fans.
Though Twitter is a bit more difficult in keeping track of numbers and statistics, you may track how many visitors clicked through to your site via Twitter or Facebook, using Google Analytics or URL shortening services such as bit.ly and cli.gs which provide analytics when you create a user account. High levels of spam or inactive accounts make Twitter impression value harder to calculate.
Let social media marketing professionals help your organization succeed in the online social media world. Blue Interactive Agency is a website design and interactive marketing company providing strategies to match your business goals. Blue Interactive provides free website analysis and creates an organic SEO strategy for your online presence.