How much is a Facebook friend worth? According to a new study a Facebook friend is worth about $174.17.
That doesn’t really apply to your aunt Sally or uncle Joe. The new study, which was conducted by the social intelligence company Syncapse, focuses on companies on Facebook and the value of their social media fans.
The study, called “The Value of a Facebook Fan in 2013: Revisiting Consumer Brand Currency in Social Media,” says that there’s been a 28% increase in the value of a Facebook friend since 2010.
The report reads: “The increase in average fan value is driven by fans’ tendencies to be super consumers … 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.”
The study states that people who are fans of a brand on Facebook are much more likely to purchase the company’s product. According to the study, a company’s Facebook fans will spend an average of $116 more than people who are not fans of the company.
Live Science notes that Facebook friends are 18 percent more likely to be satisfied with their products and 11 percent more likely to continue using the brand than people who are not fans on Facebook.
Facebook friends are also valuable to the company because they are likely to share good experiences about the company. CIO calls Facebook friends a “company’s evangelists” and encourages brands to prioritize their social media advertising.
Are you surprised that a Facebook friend is worth $174.17?