Acquiring Facebook "likes" has become the major goal of many social media marketing efforts. There is very good reason for this because after a fan has liked your company's page any information or links posted will be placed into the users and friends Facebook streams increasing traffic and brand awareness.
This is good to know but what is that Fan worth in creating an increase in actual traffic to a website?
When Facebook launched their updated Like button in February, there was a huge, immediate jump in the amount of referral traffic generated from facebook.com. However, since then the percentage has been dropping rapidly (as shown in the report's graph), reports Net Applications.
On the other hand, Hitwise Experian says that A Facebook fan is actually bankable.
A recent study by Hitwise in the UK has revealed that a "Facebook fan is worth 20 additional visits per year to an on-line stores."
"The figure of 1 fan = 20 extra visits to a website uses a unique methodology that combines Hitwise data with data from Techlightenment. They took the top 100 retailers ranked in the Hitwise Shopping and Classifieds category and benchmarked visits to those websites against the number of fans those brands had on their Facebook page. They then also looked at the propensity for people to search for those retail brands after a visit to Facebook," wrote Hitwise.
The table above is an updated Index of the top retailers that were searched for after a visit to Facebook. Topshop, Boohoo and Jack Wills lead the pack, with consumers being 54% more likely to search for the 'topshop' brand after a visit to Facebook than they would in a normal everyday search in Google, Yahoo! or Bing. Out of the top 10 brands above, WHSmith was the notable exception to the collection, as the only non-fashion retailer in the top 10.
What is a Facebook Fan Worth In Hard Cash?
"All good on-line retailers know their ratios and will know how many sales they will achieve for every 100 or 1,000 visitors to the web site. From there it is easy to calculate the direct cash benefit in cold hard sales. It'll vary from store to store depending on conversion rates and average sale values. If your ratio was an average sale of $20 for every 100 visits then a Facebook fan word be worth $4 in additional revenue per year. That starts to put some perspective on the cold hard cash you may be missing out on by not having a Facebook presence or active marketing campaign to increase your Facebook likes.
Eventbrite (an on-line ticketing company) calculated that for them a Facebook like is worth $1.34.
So there you have it. A Facebook fan is actually bankable," explains Hitwise.