Facebook $174.17 - Your friend's 'like' worth

Each Facebook friend’s like is worth $174.17. A new study shows that every click translates into something valuable for Facebook-smart businesses.

Syncapse, a social intelligence company, conducted the research study to analyze the value of a Facebook fan, a Business News Daily report on Yahoo! News stated.

“Following the old maxim that 20 percent of customers represent 80 percent of revenues (also known as the Pareto principle), the study suggests that the better you can isolate key customer segments, the more relevant your messaging can be to drive loyalty and grow revenues through targeted offers.”

Ordinary netizens would think that Facebook is simply a social networking site, but online entrepreneurs see it as an opportunity to push marketing efforts and a direct way to interact with existing as well as potential customers.

Almost gone are the times that companies use traditional means of communication to reach their clientele. At present, the utilization of social media, particulary Facebook, has become a standard method to introduce to people or inform them about a service or product.

For their part, customers can easily express dissatisfaction or contentment over services or products through the companies’ respective Facebook page. This way, businesses can gather customer feedback and respond to it in a productive manner. The likes or complaints will provide companies a room for improvement.

“Your brand’s Facebook users are your evangelists. The study recommends prioritizing your social media marketing investment to make sure they’re happy: Ensure they feel appreciated and nurtured, and find ways to talk about your brand and share their opinion,” the report said.

Businesses must alter the old phrase “the customer is always right” into “the Facebook user customer is always right” as it is essential to meet the demands of the modern times.

To become highly globally competitive, an online business (or a business-minded user) should always bear in mind that every Facebook friend’s click is worth $174.17.