Users of Facebook Inc. (Fb) are way more selective now about connecting with brands as they are with their friends. Consumers use branding community to share their opinions about a certain brand, and by responding to certain comments by the community, brands create engagement with consumers. Using the platform of Facebook page brand popularity has now increased upto 28% of brand fan since the year 2010, and each Facebook fan is worth $174 for a brand. According to the new research conducted by Syncapse the prime reason people liked a major brand was that they already owned or used product in the real world. In a 25 minute online survey of 2,080 U.S consumers in Q1 2013, researchers learned that 78% of Facebook Fans were already using their respective brands, which ranged with consumer packaged goods to fast food restaurants and big-box retailers. Exception may occur with passion and aspirational brands that are price prohibitive; such as, the one brand that demonstrated this phenomenon was BMW, where the usage rate for Fans was only 36%.
Here are the top ten reasons that people Like a brand on Facebook:
Building an engaged audience on any social network will always involve a little give and take. People like brands on Facebook as a sign of support. They shop in stores, appreciate the service which has been provided. Consumers have some sort of relationship with respective business or organization. But, they also expect a certain value in return. For a number of fans, that value comes through coupons, discounts, and other special offers. For others, that value comes from being the first to know when a new product in respective store or an event coming up.
The average value of a brand fan on Facebook in key consumer categories increased to $174 in 2012, from $136 in 2010, according to a new report from . The 28% increase was driven by Facebook fans’ tendency to be super consumers: On an average fans spend 43% more than non-fans in respective categories, despite not having higher incomes. The study, examined the Facebook fan performance of 20 top brands. It estimated the value of a fan by looking at spending, media value, acquisition cost, loyalty, and the propensity to recommend a brand to others.
Below, extra key findings
Facebook brand Fans have proven highly valuable in key consumer categories. Marketers’ work gives knowledge that they are aware of the market’s need and have a control over need of consumers. A brand value incorporates various benefits including spending, loyalty, propensity to recommend, earned media value, acquisition cost and brand affinity for fans.