Pending further investigation, the value of a Facebook Fan is 42

I’m skeptical of any research that purports to quantify the monetary value of a Facebook Fan. While some social media service providers claim they’ve got it figured out, I find that they typically only take into account variables that they can measure with their own tools, which leaves out a host of factors that may be equally important.

Comparing apples to airplanes

I also think that vendors feel it necessary to proclaim they’ve cracked the equation because clients everywhere demand “a number” that will help them compare the ROI of various marketing channels.

The problem is that apples to apples comparisons don’t make sense when a Facebook program is pitted against some tactical program like an ad buy, which often is the case.

Here’s how Facebook marketing is different: Engaging prospects and customers on Facebook isn’t a one-time connection like traditional advertising. Done right, you can “earn” a Fan. “Fanning” establishes a communications channel between the marketer and these self-selected individuals.

They way I see it, earning Fans on Facebook is more like buying an email list of prospects. Except, in this case, the list consists of individuals who’s already bought into your brand’s value proposition and who, as an added bonus, are happy to broadcast their brand affinity to their friends.

What’s the value of a Facebook Fan?

In a wall-to-wall Facebook exchange I recently had with an executive of a multinational CPG company on the value of a Facebook Fan, I had to confess that my best guess would have to be 42.

Let’s get rhetorical

What do you think will have a greater conversion rate? Marketing to an anonymous list of names in an email-marketing list or to self-proclaimed Fans on Facebook? I can’t tell you exactly. It could be 42. However, I’m pretty confident that you’ll see better ROI by preaching to the converted on Facebook – and I’m happy to entertain any marketers who want to figure out what their magic number is.