Is there Real Worth for Brands Behind Social Currency?

UNICEF Sweden recently created a campaign titled “Likes Don’t Save Lives.” Especially for charities and social causes, social media is a good first step…but support beyond a vritual “like” is needed. Fake followers on Twitter and Facebook are becoming a multi-million dollar business, but is there really any long-term gain in acquring these “fans”?

While Facebook fans spend more money on brands they’ve ‘liked’ than on ones they haven’t, is there any real value hidden behind that thumbs-up? On average, a ‘like’ is worth $174.17. “Superconsumers,” says a  study by Syncapse, have significant power to effect products. “Not only do they tend to be brand users first, they spend more, engage more, advocate more and are more loyal. The significant and increasing value of a Facebook brand fan affirms past social marketing…

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Published May 3, 2013 by Luke Severn.
Categories: Social Media