Nobody can deny the power of social media when it comes to marketing and advertising, but how powerful is it exactly?
I refer to the following site:
http://techcrunch.com/2010/10/14/eventbrite-facebook-share/
I quote from the website, “For online ticketing service Eventbrite
, each time someone shares a link to a paid event with their Facebook friends it results in $2.52 worth of ticket sales. In contrast, a Twitter share is only worth $0.43, and a LinkedIn share is worth $0.90. Sharing an event through Eventbrite’s email sharing tool is worth $2.34, almost as much as Facebook. On average, across all social channels, each share is worth an average of $1.78 for Eventbrite.”
A link shared on facebook is worth $2.52! My initial response was a feeling of surprise, for I did not think that each link share could be estimated at a value. I am wondering how Everbrite came up with this number, as I’m supposing they didn’t simply divide their total revenue by the number of facebook links they shared, or else the comparisons would be pointless as they could simply post more on Twitter and Linkedin to decrease their link values. If anyone has any idea as to how this figure was compiled, please reply 🙂
But assuming that the estimations are calculated on a valid basis, then it would be possible for companies to estimate their demand according to the number of times they post on facebook! Of course, not every event is the same, and each consumer has different preferences, but assuming that there are two seperate links for the old and new product, the customers that preferred the old product and don’t prefer the new would cancel out with the ones that didn’t prefer the old and prefer the new one. We would roughly arrive at a similar calculation, and the number of people who see the message would be roughly the same.
But this is not to say do not use Linkedin or Twitter; they still generate value! Be sure to use them as well along with facebook to maximize profits!
