New research shows consumers who engage with companies using social media spend up to 30% more than consumers that don’t.
The same research from Bain & Company, suggests they are also more loyal and emotionally connected than customers who are not socially engaged. Bain demonstrated this by looking at the Net Promoter Score (NPS) of customers – the NPS score was 33 points higher for the socially engaged consumer.
To some extent this isn’t surprising – the NPS score of a consumer socially connected to a brand is skewed by a self-selection bias. A consumer chooses to ‘follow’ or ‘fan’ a brand because they have some interest or affinity with it already, indeed they might be a loyal consumer. Other research shows that the main motivation for following or liking a brand on social media is to get the latest information and deals.
Nonetheless, this is useful data when trying to make the business case for increasing investment in social media.
Other useful social media ROI research/data that will help in this area (albeit Facebook focused) includes:
- 1 Facebook fan = 20 additional visits to your website
- The average fan is worth £138
- Fans Are 291% More Likely to Engage With Brand Than Non-Fan
Please let me know if you have other great ROI case-studies.