Intertainment Media Inc (fka ITMTF)

[CansoSpaceMan]

Great read on social networking
http://intertainmentmedia.com/blog/2010/11/02/how-do-you-measure-the-value-of-social-media-and-facebook-fans/
When it comes to valuing your online social network, how do you put a price tag on a friend or a fan?
Recently, noted journalist Matthew Ingram wrote a great article on Gigacom.com providing evidence for the value of a Facebook Fan and suggesting how much they are really worth.
In his research, Matthew found that in a report released by Syncapse in June 2010, they found that an average Facebook Fan is worth about $136.38. He also notes that for some very successful social marketers, the value could be higher and for some less successful companies, the value could be as low as zero.
According to the Syncapse survey and the article, they found:
“On average, fans spend an extra $71.84 they would not otherwise spend on products they describe themselves as fans of, compared to those who are not fans.”
“Fans are 28 percent more likely than non-fans to continue using a specific brand.”
“Fans are 41 percent more likely than non-fans to recommend a product they are a fan of to their friends.”
“It also seems that the value varies widely, as an average fan may participate with a brand ten times a year and will make one recommendation. But an active fan may participate thirty times and make ten recommendations. The impact this has on fan value is quite dramatic. In the case of Coca-Cola, the best case for fan value reaches $316.78 but is $137.84 for an average fan. In the worst case scenario, a fan is worth $0.”
The full article can be found at: http://gigaom.com/2010/06/11/how-much-is-a-facebook-fan-really-worth/
So, how does this translate to Intertainment products and services?
For Intertainment, Ortsbo (www.ortsbo.com) is probably the best example of our products integrating with Facebook and its Fan platform. As of the writing of this blog, Ortsbo has approximately 12,000 Fans, likely reaching over 1.2 million Facebook users (each having 100 friends on average).
Considering the Ortsbo Facebook Fan page is only slightly less than 3 months old, I humbly believe that Ortsbo has quickly reached a level that many brands are having a tough time achieving. As Ortsbo is international, we are attracting users from all over the world, so our reach to Facebook Fans is not as limited as it might be if we were a retailer or specific product offering.
Facebook is only 1 of 13 current platforms for Ortsbo, as it covers all the major social network platforms. Does this increase the value of the Fan that might have more than one social media connection and bring it above the average value that Syncapse found? I can’t really say, as we haven’t done the research, but I do believe that the more opportunity you provide for your customers to connect on their preferred network(s), the higher the potential for increased long term value.
On a separate note, I wanted to point an interesting and valuable blog that has been very generous in their ongoing support of the Company and I encourage you to take a look at www.thetradersdigest.blogspot.com I personally find the information very informative and hope that you will too.