I believe many are looking at this in too narrow a fashion. Everyone is trying to assign a dollar value to a Facebook fan or Twitter follower instead of addressing the fact that it is the engagement and interaction that takes place in these mediums that is incredibly important to a brand. <\/p>\n
Building a relationship with existing and future customers is the true value and strength of social media\/marketing. ROI is certainly incredibly important whenever investing, but companies have to start looking at ROR, Return on Relationship, when planning, strategizing and most importantly evaluating social marketing. <\/p>\n
A new study shows that those who are fans or followers of a brand on Facebook or Twitter, respectively, are significantly more likely to buy products and services or recommend the brand to a friend. <\/p>\n
Specifically, the study by Chadwick Martin Bailey<\/a> and iModerate Research Technologies found that consumers are 67% more likely to buy from the brands they follow on Twitter, and 51% more likely to buy from a brand they follow on Facebook. Moreover, they\u2019re 79% more likely to recommend their Twitter follows to a friend, and 60% more likely to do the same on Facebook.<\/p>\n Welcome to the \u201cAge of Influence,\u201d where anyone can build an audience and effect change, advocate brands, build relationships and make a difference.<\/p>\n Ted Rubin<\/p>\n","protected":false},"excerpt":{"rendered":" I believe many are looking at this in too narrow a fashion. Everyone is trying to assign a dollar value to a Facebook fan or Twitter follower instead of addressing the fact that it is the engagement and interaction that takes place in these mediums that is incredibly important to a brand. Building a relationship … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[137,7],"tags":[393,261,481,480,479,3,478],"class_list":["post-786","post","type-post","status-publish","format-standard","hentry","category-all-posts","category-tedrubin","tag-facebook","tag-investment","tag-open-sky","tag-return-on-relationship","tag-ror","tag-ted-rubin","tag-value"],"_links":{"self":[{"href":"https:\/\/www.thesocialcmo.com\/blog\/wp-json\/wp\/v2\/posts\/786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thesocialcmo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thesocialcmo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thesocialcmo.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thesocialcmo.com\/blog\/wp-json\/wp\/v2\/comments?post=786"}],"version-history":[{"count":1,"href":"https:\/\/www.thesocialcmo.com\/blog\/wp-json\/wp\/v2\/posts\/786\/revisions"}],"predecessor-version":[{"id":787,"href":"https:\/\/www.thesocialcmo.com\/blog\/wp-json\/wp\/v2\/posts\/786\/revisions\/787"}],"wp:attachment":[{"href":"https:\/\/www.thesocialcmo.com\/blog\/wp-json\/wp\/v2\/media?parent=786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thesocialcmo.com\/blog\/wp-json\/wp\/v2\/categories?post=786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thesocialcmo.com\/blog\/wp-json\/wp\/v2\/tags?post=786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}