Brands place value on insights and loyalty, not spending
How much is a brand fan worth? It’s a question some social media marketers have been asking for a while, but research suggests many are moving on from the search for a hard number.
According to a July 2010 survey of social media marketers byMillward Brown and Dynamic Logic, the most valuable aspects of social media brand fans go beyond anything with an immediate monetary value. Increased short-term and long-term spend on the brand were the bottom two results.
At the top of the list were the fan’s value as a source of insight and increased loyalty overall. Advocacy and engagement were also important to at least three-quarters of respondents.