The average value of brand fans has increased 28% to $174.17 #report

Syncapse have released their 2013 report highlighting increases in the value of brand fans for key consumer categories and a few other interesting insights.

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So what are the key drivers of fan growth?

Liking a brand is driven by two main reasons;

  1. To get a coupon or other price discount or reward like enter a competition
  2. To show their support for a brand and receive regular updates

On average it's the emotional connections that beat the practical ones as Fans are looking to express themselves through the brands they like rather than expecting discounts from brands they would chose to shop with anyway.

Research like this highlights that it's almost impossible to ascertain the value of your fans without offline focused interviews. No matter how many calls to action or loops you close with unique vouchers you'll never really understand what value your social media fans bring the business vs no fans without research like this.

Download yourself a copy of the report here.