Today’s Social Networking Sites have given us the opportunity to communicate with people in real time from across the globe. They have helped us to come together and support a common theme.
Talking about a common theme, on the internet, customers, businesses and the media can immediately see what’s on people’s minds. With the various advanced setting from Google to Facebook or any other websites feature products according to the search history of the laptop user. So imagine how easy it has become to target audience by a company. Targeting audience essentially means reaching out to potential customers and giving them the benefit of exploring various brands. This is how social media has helped companies to market their product and influence customers. By inclining to a particular brand via a social media like Facebook or Twitter it has in turn helped them to increase and improve their social media value. So are you capitalizing on your social following?
A visual comparison between Twitter and Facebook tells us about the value of a social following. So what is the worth of Twitter or Facebook post or update? Every time we reach out to a brand in Twitter or Facebook, their value escalates.Investigating the latest research, Imbue Marketing decided to take a closer look at the value of social following and came up with this attractive infographic.
“We believe there is a value in a Like or a Follow. So we’ve created this infographic to show how much a social following is really worth to a business”. It is not the lack of data which makes measuring social ROI difficult, but classifying which pieces of data is significant.So let us take a look at the infographic to understand how it affect users and how big internet companies like social interacting media gain value from their users.How purchase intent is affected by chasing a brand? It has been recorded that only about 13 % of users following a brand are MOST likely to purchase a brand they follow or like, while a 47% are in two minds, may or may not buy the brand they follow online. While a 40% population have no influence at all.63% of companies say social media has increased effectiveness of their marketing, 50% of the companies believe that social media has increased customer satisfaction. 45% say they have reduced marketing cost while a mere 24% believe that they have increased service innovation and revenue.The most expensive action in social media is a ‘share’ on Facebook, which is worth $14, much more than a Facebook Like ($8), Twitter tweet ($5) and Twitter follow ($2).
Imbue Marketing also deduced that Facebook fans are comparatively cheaper to recruit through a promotional campaign, with an average cost per Like (CPC) of $1.07.Meanwhile, a cost per follower on Twitter is a somewhat $2.50-4.00.Twitter, is doing what is necessary to increase engagement between users and advertisers but for now, cost per engagement (CPE) is $0.75-2.25. These stats could differ based on a number of parameters, such as how active the company is on social media and how much a user interacts with the referred brand.
Campaigns vary among different social media. Some are relatively cheaper than Facebook or Twitter; many others, in the meantime, are more costly. Probably the actual cost of a Like is higher. Probably the cost of the Likes and Sharing are a bit higher and change from time to time. But that is hard to determine.
Nevertheless the world of social media is getting bigger every day. How we choose to use our network is completely dependent on us, and so is the value. It is just a matter of time before another social networking site rises and dominates Facebook and Twitter.
Thus, Social Media has impacted widely and has taken over the internet in the present day and age. With websites such as Facebook and Twitter ruling over the internet, the value of social following has increased by leaps and bounds in the past few decades. And by judging the ongoing trend, it is quite evident that this popularity will only increase in the coming years.