Sunday, October 09, 2011

What Do Facebook Pages Mean For Companies?

As posted by one of my classmates, Facebook recently added a new metric to assess the success of a Facebook fan page beyond its "like" count called "people talking about." This new metric seeks to gain a more accurate measure of Facebook status for a brand and takes into account comments, posts, and activity related to the brand.

The top 10 Facebook pages in terms of Likes compared that with the top 10 for People Talking About are as follows: http://mashable.com/2011/10/09/top-facebook-brands-talking-about/.

Famecount provides detailed data on brand Facebook pages as well as brand presence on other social media: http://www.famecount.com/facebook-rank/Worldwide/all/Brand.

Ultimately, the big question is, how does this social media and brand presence translate to dollars and cents for these companies? Are certain fans more valuable than others? I.e., do they spend more and/or are they opinion leaders? Does social media work better for certain brands as opposed to others? Do firms who have products that can be purchased online see a more direct impact to the bottom line from their Facebook presence?

Obviously, as with any marketing effort, these are difficult and complex questions to answer, but I think it is fair to say that significant brand presence on Facebook and Twitter is crucial for most, if not all, consumer companies.

For those looking for a detailed study, take a look at this PDF: www.syncapse.com/media/syncapse-value-of-a-facebook-fan.pdf.

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