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Your Facebook friends and fans are worth $174.17

Posted By GABRIELLE LEVY, UPI.com   |   April 26, 2013 at 12:52 PM   |   Comments

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April 26 (UPI) -- A new study found that you can put a price on your Facebook likes, showing that becoming a fan of a brand page does actually translate into brand loyalty.

A social intelligence research company called Synapse looked at 2,000 Facebook users following a brand and found that each like translates to $174.14 -- a number that has gone up 28 percent since 2010.

In other words, people who take the time to like a brand's page is much more likely to actually give that company their business, to the tune of $116 per year, 43 percent more than non-fans spend.

Fans are also a good indication of how satisfied people are with the brand.

The study recommends leveraging this kind of correlation, encouraging brands to reach out to these fans who become the evangelists for the brand.

"The increase in average fan value is driven by fans' tendencies to be superconsumers," the report said. "Not only do they tend to be brand users first, they spend more, engage more, advocate more and are more loyal. The significant and increasing value of a Facebook brand fan affirms past social marketing investment and mandates deeper commitment and accountability in the future."

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