The average value of brand fans has increased 28% to $174.17 #report
So what are the key drivers of fan growth?
Liking a brand is driven by two main reasons;
- To get a coupon or other price discount or reward like enter a competition
- 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.