(L/M NET: the blogged experience & expertise of some of the best minds in Business Innovation, Brand Engagement, Communication Agility: Tom - Tim - Helge - Drew - Charles - Anthony - Adrian)
The Facebook “Like” land grab is in full swing. Fan acquisition is becoming an increasing part of many marketing plans, in the midst of a lot of debate on the value of Facebook fans. Different pundits are increasingly trying to pinpoint a universal value to fans.
As one observer summarized, “Your Facebook fans are worth exactly $1.07. No, they’re worth $3.60. Or maybe they’re worth $136.38. Unless they’re worthless.”
Setting a value per fan can lead to indiscriminate fan chasing. Many brands seem intent on amassing as many fans as possible, independent of the relevance of the fan. They’re treating fan accumulation as a media buy.
While fans can be bought, it’s important to remember than quality trumps quantity. And simply accumulating fans is only the start. Developing a relationship is far more valuable.
Hal Thomas posted some useful notes following an SXSW panel on the value of a Facebook fan: “The value of a Facebook fan is ZERO until you do something with them. There is no inherent value in amassing fans.”
The overlooked key to getting fans to like your brand is to be a brand worth liking.
(ralf says: Every marketer should carry the last sentence under her pillow. Nothing to add - just a few quick links: Ooops - the Value of a Facebook Fan is Zero! and Facebook, Twitter, LinkedIn - When Shall we Three Meet Again? In Thunder, Lightning, or in Rain? and Liebe Facebook-Apostel, ich habe im Bus jemanden “geliked”! and Facebook Fans: Die gute Nachricht ist die schlechte Nachricht! and Engagement & Experience: What are Your "Pentalobular Screws"? - Enjoy!)
Tom, when not cartooning (eg. for Marketing Week), is method's international managing director. Based in London, he frequently speaks at campuses, companies, and conferences about marketing, cartooning, and how to spread business ideas. Twitter: @tomfishburne
