What is your brand’s Facebook page worth?

Social media allows for complete brand transparency using 140 character billboards so get to the point and make it count! When brands misuse social media, it’s like two rams butting heads because they continue to put the same stuff out there that will never work and nobody wins. Companies are starting to realize they have to compete for loyalty and to do that, they must take the fight to your desktop. Once you launch your multi-media marketing campaign, now what? Besides an increase in traffic and sales, how does one evaluate social media progress to those that don’t know? ya know.

From Vitrue: The Social Page Evaluator isn’t the whole value of a page or fan. It’s a chunk of the story; we think maybe the hardest part to write for your brand, and we look forward to helping you tell it. Go ahead and try it: http://evaluator.vitrue.com

The Evaluator will examine its fan count, post frequency, and various fan interactions with the page and crunch the data using our original fan valuation, adding the equally vital aspect of “engagement”.

We get the data. We do math. We get a number. Then we put a dollar sign on it.

For instance, it’s useful to know how much value you’re getting out of your page, but wouldn’t it be great to know how much value you COULD be getting? We put that on there too. It shows how much a page could be worth, with the same number of fans, if it were following all of our best practices (posting the right number of times a day for your brand, using multimedia posts a LOT, using a branded URL shortener, etc).

Although it’s quite impossible to ever know the absolute value of social media, this is a great start. I decided to conduct my own Facebook Page research with ESPN, Lululemon, and Toyota.

As you look at different page evaluations, the current and potential evaluations will be closer or farther from each other– you may see a page where they are the same, in which case take note! That page is maximizing the value of its current fans and just needs more fans.

ESPN’s Facebook page is one of those companies because us Americans can never become over over-saturated with sports. ESPN maximizes it’s facebook page at $5,699,635 only to be dominated by the popular Starbucks Facebook page is worth $20.7 million.

I have heard a lot of great things about Lululemon‘s social media department and it was reflected in the results. Their Facebook page is given an current value of $1,071,436 and a projected value of $1,311,963. The fact that these numbers are close means that they do a great job participating in social media. Lululemon may sell technical athletic apparel but their marketing reflects their core values of living a healthy lifestyle within the community, well done 🙂

Most brands have similar results to Toyota. With a current value of $142,926 and a projected value of $1,071,943, a considerable gap is present. It was my pleasure to meet Toyota’s Communications Manager, Connie Burke, at Chicago’s #140conf a couple weeks ago and I can assure you, she is closing that gap to soon become a  new media powerhouse!

If you wanted to try and put a number on it, I would suggest that the Social Page Evaluator is the best tool present for measuring a brand’s Facebook ROI. Just remember, it’s not the whole value of a page, but it’s a chunk of the story. For twitter analytics, check out Twitalyzer. Everything online is traceable and these tools helps separate the contenders from the pretenders. To companies that look for shortcuts, you can’t pay for friendships in life or on facebook, grow your following organically!

Still interested in more? Read Putting a Value on Facebook Communities

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