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<atom:link href="http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments" rel="self" type="application/rss+xml" /><title><![CDATA[Comments on: Question: What's a Facebook Fan Really Worth to Marketers?]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments</link>
<language>en-us</language>
<ttl>120</ttl>
<description><![CDATA[The technologies at New York's annual Internet Week wowed, but what really generated attention were efforts to answer the $64,000 question: How do we measure the value of a Facebook fan, especially since Facebook is a dominant part of a marketer's toolkit?]]></description>
<item>
<title><![CDATA[By: Bart van de Kooij]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-78347</link>
<description><![CDATA[Great article and I totally agree with @tedrubin that brands are looking at this in too narrow perspective. Everyone is trying to assign a strict dollar value to a Facebook fan or Twitter follower instead of addressing the engagement and interaction that takes place in these mediums.

I believe the value of a Facebook liker cannot be measured using the same measurement system as old traditional media. It calls for a new form of measurement which takes into account whole new set parameters including the &quot;liker&#039;s&quot; level of engagement with the brand, duration of being a &quot;liker&quot; and more. I know there are problems with answering this question and that it assumes there is some sort of generic value that every &quot;liker&quot; has. The truth is, there are different types of qualities of liker&#039;s and it&#039;s complicated. 

The next thing in social media ROI will be a framework attempting to give insights to providing an accepted method for measuring the true value of Facebook liker&#039;s.]]></description>
<pubDate>Tue, 28 Dec 2010 07:03 EST</pubDate>
<author>Bart van de Kooij</author>
</item>
<item>
<title><![CDATA[By: Kalle Anka]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67864</link>
<description><![CDATA[Good article. 

I think we all know intuitively that there is a return on Social Media. The problem is that defining the social media return is really tough. Moreover, even if we can define it, it is equally tough to put a dollar value on the return.

The key to defining the social media return is partially to use what Vitrue calls &#039;earned media&#039;. For instance, we know that there is value is consumer insight. We can determine this value by analyzing the cost of focus group. If we get the same types and quality of consumer insights from social media, then we know the value of these consumer insights and this value is our social media return measured in dollars. There are over 15 different types of social media returns that taken in aggregate constitutes your total media return per month, year or length of campaign. Vitrue, in this case, is using only one return value.

I don&#039;t want to spam the thread but see kluriganalytics.com for a more in-depth discussion of social media ROI and return channels.

Again, good article.]]></description>
<pubDate>Mon, 21 Jun 2010 13:08 EDT</pubDate>
<author>Kalle Anka</author>
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<item>
<title><![CDATA[By: Judy Shapiro]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67764</link>
<description><![CDATA[I love how this post created great conversations which centered on three areas; 
1) what should be tracked 
2) how should marketers apply measurement learnings in the real word (see this great post from brandmovers (http://www.brandmovers.co.uk/blog/) 
3) is tracking even possible? 

Important questions that requires a broad consensus that can scaffold how marketers increasingly introduce new technologies into the marketing mix. 

Thank you all for your generous outreach of support. We will proceed from here.

Judy Shapiro]]></description>
<pubDate>Thu, 17 Jun 2010 14:16 EDT</pubDate>
<author>Judy Shapiro</author>
</item>
<item>
<title><![CDATA[By: TED RUBIN]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67707</link>
<description><![CDATA[I believe many are looking at this in too narrow a fashion. Everyone is trying to assign a strict dollar value to a Facebook fan or Twitter follower instead of addressing the engagement and interaction that takes place in these mediums. Building a relationship with existing and future customers is the true value and strength of social media/marketing. ROI is certainly incredibly important whenever investing, but companies have to start looking at ROR, Return on Relationship, when planning, strategizing and most importantly evaluating social marketing. 

A new study shows that those who are fans or followers of a brand on Facebook or Twitter, respectively, are significantly more likely to buy products and services or recommend the brand to a friend. Specifically, the study by Chadwick Martin Bailey and iModerate Research Technologies found that consumers are 67% more likely to buy from the brands they follow on Twitter, and 51% more likely to buy from a brand they follow on Facebook. Moreover, they&#039;re 79% more likely to recommend their Twitter follows to a friend, and 60% more likely to do the same on Facebook.

Welcome to the &quot;Age of Influence,&quot; where anyone can build an audience and effect change, advocate brands, build relationships and make a difference.]]></description>
<pubDate>Thu, 17 Jun 2010 10:02 EDT</pubDate>
<author>TED RUBIN</author>
</item>
<item>
<title><![CDATA[By: Katharine Murphy]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67687</link>
<description><![CDATA[I&#039;d say it&#039;s worth $3.60 if anything. 
I couldn&#039;t tell you one brand I&#039;m a &quot;fan&quot; of on Facebook, or one brand any of my hundreds of &quot;friends&quot; are fans of.
Facebook as a serious marketing platform boggles me, it&#039;s all just clutter.]]></description>
<pubDate>Wed, 16 Jun 2010 21:27 EDT</pubDate>
<author>Katharine Murphy</author>
</item>
<item>
<title><![CDATA[By: Mike Strutton]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67685</link>
<description><![CDATA[Hi Judy, thanks for putting a spotlight on Facebook ROI. Vitrue&#039;s analysis was published to give marketers a simple and easy to understand metric, something anyone can get their hands around. We believe it&#039;s conservative for many brands, based primarily on earned media value. That&#039;s just one piece of the ROI puzzle, but it is a metric many marketers are familiar with, and the data is readily available via the Facebook graph API.

http://evaluator.vitrue.com 

The free Vitrue Evaluator tool calculates Page value based on the aforementioned earned media formula, but we also analyze the page for engagement and include a factor for its value. The Vitrue Evaluator lets brands adjust the earned media CPM (from $1 to $25) to meet their assumptions and even lets them forecast on fan growth, post frequency and engagement. The $5 CPM is simple, conservative and a starting point.

The Vitrue Evaluator also does a deep analysis of the page to determine best practices, like post frequency, use of shortened URLs and post types. We have develop these learnings and best practices from our experience managing in excess of 60 million fans for the largest brands across social media.

The ROI question is absolutely top of mind with Facebook marketers, to date we have had over 36,000 Facebook Pages evaluated, from over 160 countries measuring engagement from over 1.4 billion fans. The Evaluator is an incredible conversation piece for marketers to help spark, measure, justify and grow their social media investment throughout their organization.

In addition to Vitrue&#039;s technology platform for social media, we also develop holistic engagement analysis for our clients taking into account their entire Facebook strategy from earned media values, engagement, acquisition, direct response, word of mouth, customer LTVs, etc.

Warm regards,
-mike

----------------------------------------------------------------------
Mike Strutton, Chief Product Officer
Vitrue, Inc. - we make brands social
http://evaluator.vitrue.com - how much is your facebook page worth?
http://vitrue.com]]></description>
<pubDate>Wed, 16 Jun 2010 19:42 EDT</pubDate>
<author>Mike Strutton</author>
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<item>
<title><![CDATA[By: Simon Small]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67684</link>
<description><![CDATA[]]></description>
<pubDate>Wed, 16 Jun 2010 18:07 EDT</pubDate>
<author>Simon Small</author>
</item>
<item>
<title><![CDATA[By: Simon Small]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67683</link>
<description><![CDATA[Agree with lbeale, I love the idea of an ROI for social media, it&#039;s just odd, but when dealing with marketing managers they love to ask it.

The theory is great, but a great question to ask back at them is &#039;What&#039;s the ROI of TV?&#039; the answer will usually consist of, we&#039;ve done it for ages, or it&#039;s a mass medium. Never do they give you an ROI for any of their media spend.

This kind of science in numbers and data is what stops digital from getting a larger piece of the pie. Digital is already SOOOOOOOO much more accountable than other media, which means marketers make smart decisions about their digital spend, but on the flip side they make silly decisions about their traditional spend. 

Digital media should take a page from the TV book, they created the TARP (in Australia or ratings points/share in the US??) which is a scientific sounding number based on a small amount of actual data, but helps them sell a shirtload of media.]]></description>
<pubDate>Wed, 16 Jun 2010 18:05 EDT</pubDate>
<author>Simon Small</author>
</item>
<item>
<title><![CDATA[By: Lee Beale]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67630</link>
<description><![CDATA[Do we even have a reliable ROI nailed for traditional media channels yet? 
I see this being disputed client and agency side on a regular basis and consistently so over the years. Convenient numbers and formulas chosen; agencies delivering econometrics which are questioned.
It&#039;s unlikely that there will ever be a consensus on ROI for social media. This may mean we have to market to some degree by intuition!]]></description>
<pubDate>Wed, 16 Jun 2010 10:58 EDT</pubDate>
<author>Lee Beale</author>
</item>
<item>
<title><![CDATA[By: David Frawley]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67625</link>
<description><![CDATA[Ironic that the inherent principle of inbound marketing and social selling is that authority and value is demonstrated and earned. Yet we can not reach consensus on the ROI (not even close).

Jay Dunn from Lane Bryant has an interesting take (Dunn&#039;s Equation). http://supergroup.ning.com/page/get-the-book

And he admits: 

&quot;Is Dunn&#039;s Equation scientific? No. Am I working the
formula to validate the premise? Absolutely. But it&#039;s
indisputable that we can create ROI and generate
profitable retail sales through social selling.

Is an absolute standard necessary? Possible?]]></description>
<pubDate>Wed, 16 Jun 2010 10:41 EDT</pubDate>
<author>David Frawley</author>
</item>
<item>
<title><![CDATA[By: James Faison]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67591</link>
<description><![CDATA[The Syncapse approach is very imaginative and I can see how that depth can be useful for marketers. As you rightly observe, Judy, the question remains what does that mean in the real world?]]></description>
<pubDate>Tue, 15 Jun 2010 14:22 EDT</pubDate>
<author>James Faison</author>
</item>
<item>
<title><![CDATA[By: PR 4SEO]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67590</link>
<description><![CDATA[If wishes were fishes I&#039;d wish that Facebook would stop being so cavalier in how/ when they make changes. It&#039;s hard enough to execute FB campaigns much less track them. Then they go and change the game with the &quot;like&quot; device. I really don&#039;t see the value because it is too easy to &quot;like&quot; something which means that everyone &quot;likes&quot; something or does it mean no one really &quot;liked&quot; it at all.

This confusing measurement picture is a syndrome of the larger issue. Young, big social media companies are run by young leaders who use marketers as guinea pigs. I long to work with grownups in the social media world. I&#039;m tired of playing with the children.]]></description>
<pubDate>Tue, 15 Jun 2010 14:17 EDT</pubDate>
<author>PR 4SEO</author>
</item>
<item>
<title><![CDATA[By: Nicholas Kinports]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67579</link>
<description><![CDATA[This is a good step in the right direction. Here&#039;s my final word on the ROI of Facebook fans:

Facebook Fan Value: The Definitive ROI Formula http://cot.ag/9I0P5W

Nick Kinports
http://twitter.com/ADMAVEN]]></description>
<pubDate>Tue, 15 Jun 2010 12:13 EDT</pubDate>
<author>Nicholas Kinports</author>
</item>
<item>
<title><![CDATA[By: Martin Evergreen]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67572</link>
<description><![CDATA[I just came back for a WOM conference where they attach the value of a &quot;connection&quot; - a/k/a the &quot;new&quot; fan at around $300. This is really silly -- too many people claiming to be able to track so many things. 

It seems to have lost any sense of reality or practicality.]]></description>
<pubDate>Tue, 15 Jun 2010 11:45 EDT</pubDate>
<author>Martin Evergreen</author>
</item>
<item>
<title><![CDATA[By: Harvey Mass]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67565</link>
<description><![CDATA[Hmm -- these numbers are so extreme that it casts a shadow on its credibility. $136 seems way too much and $3.60 seems way too little. I read other studies that include other wide variations - so what&#039;s a marketer to do? 

I miss the days when everyone knew what a GRP was (never mind if you don&#039;t). Harv]]></description>
<pubDate>Tue, 15 Jun 2010 10:56 EDT</pubDate>
<author>Harvey Mass</author>
</item>
<item>
<title><![CDATA[By: Nicholas sherm]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67559</link>
<description><![CDATA[It&#039;s more like the $64 MILLION question.... Every client is pushing for a way to measure this type of marketing ... but we lack the tools, the guidelines and the methodologies to deliver good answers to these questions.

Like Judy - i am encouraged that these questions are being tackled. But like Judy - i recongnize that a more coordinated approach is required.]]></description>
<pubDate>Tue, 15 Jun 2010 10:04 EDT</pubDate>
<author>Nicholas sherm</author>
</item>
<item>
<title><![CDATA[By: MICHAEL SCISSONS]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67547</link>
<description><![CDATA[]]></description>
<pubDate>Mon, 14 Jun 2010 23:56 EDT</pubDate>
<author>MICHAEL SCISSONS</author>
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<item>
<title><![CDATA[By: Mel Brand]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67545</link>
<description><![CDATA[The lack of an industry approach to measuring social media is probably one of its biggest constraints. These studies point to the extent of the problem -- as you point out -- the &quot;values&quot; are quite differnet. 

good summary.]]></description>
<pubDate>Mon, 14 Jun 2010 23:29 EDT</pubDate>
<author>Mel Brand</author>
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<item>
<title><![CDATA[By: Robert Barnett]]></title>
<link>http://adage.com/article/digitalnext/question-a-facebook-fan-worth-marketers/144437/#comments-67539</link>
<description><![CDATA[Thanks Judy for highlighting one important fact ... measuring social media is about as organized as social media itself. Lots of different social media and mobile technologies that don&#039;t really connect. Now we have lots of different types of measurements for SM *sigh*. 

I appreciate your call for a more organized approach. Without it -- social media will keep playing on the fringes.]]></description>
<pubDate>Mon, 14 Jun 2010 19:10 EDT</pubDate>
<author>Robert Barnett</author>
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