Measuring Facebook’s Impact on Marketing: The Proverbial Hits the Fan
Marketers understandably are obsessed by Facebook these days and with this metric in particular: the “value of a Fan.” It is simple, and it is easily acted upon. If the value is high, execute more programs to attract more Fans. If the value is low, execute more marketing programs to raise the value of each Fan. Either way, the answer involves executing more marketing programs.
Underlying this appeal is the immense pressure marketers are under to deliver more value for less money. Facebook and other social media offer the lottery-like promise of a marketing jackpot and return on investment in the million-percent range (forgetting, conveniently, that the odds of this happening are slightly less than being struck by lightning twice standing under the same unlucky tree).