A survey by social marketing firm Syncapse has shown that value of Facebook fans has been growing steadily since 2010. According to the survey the value of these 'fans' could be worth about hundred dollars each depending on the brand or company.The survey looked at over 2,000 Facebook users who have patronized brands on the social network and have determined that an average Facebook fan is worth $174.17. BMW fans are worth $1,613, Starbucks $177, and Coke $70 among other noteworthy brands.
Factors like product spending, brand loyalty, tendency to recommend, media value, acquisition cost and brand affinity were considered during course of this survey. Fans are basically not typical users as they patronize brands and companies more than users. They spend double the time on social networking sites and have greater tendency to share experiences and recommend the brand to other individuals.
Fans are an invaluable asset to brands and companies as they not only like products but also promote them amongst their friends and family. In short they are virtual marketing executives of brands and companies on social networking platforms.