Are Facebook Fans Really Worthless?

A recent article from Forrester Research’s Augie Ray carries the rather scandalous title “What Is The Value Of A Facebook Fan? Zero!” Of course, Ray doesn’t really think Facebook fans are worthless. But he does raise a crucial question that deserves serious consideration in our brave new world of social media-driven marketing.

Ray discusses the valuation of Facebook Fans and concludes that it is impossible to put a dollar figure on the ROI of such followers. He emphasizes that when it comes to getting a real return on social media investments, having followers in and of itself is not nearly so important as what a company does with those fans. In other words, your conversion rate is really what matters.

Marketing guru Seth Godin touched on this same topic in another recent blog. His conclusion nails it: “Commitment is the essence of conversion.” Becoming a “fan” requires little commitment and more or less amounts to being a digital spectator. But marketers don’t just want a bunch of spectators — they want participants, because participants are where you get your return! Accumulating spectators shouldn’t be an end in itself, but it does lay the foundation for conversion. The more spectators you collect, the more potential participants you could have on your hands.

But it’s ultimately up to you, the marketer, to convert those spectators into active participants.