ChompOn, a group buying startup, revealed that Facebook has turned out to be a better contender than Twitter, as far as internet marketing is concerned. ChompOn has compared the values of posting on Facebook and Twitter. According to its report, a Facebook ‘share’, which fetches $14, is of threefold value of a ‘tweet’ and one Facebook ‘Like’ is four times more valuable than a Twitter ‘follow’! This may irk Twitter fans, but ChompOn thinks that the comparison was necessary because of the selling of their products by different publishers.
According to the startup, the actual value per action must be even greater as it does not consider the long-term value of customers acquired through these social channels. ChompOn writes, “Gross revenue depends on the products/services being sold, but due to the diverse set of ChompOn publishers, we still feel the comparison between actions is reasonable”.
The survey was done based on simple division. Sales were directly attributed to the actions like Facebook’s share and Twitter’s tweet. The total revenue attributed to each action was then divided by total number of tweets or shares.
Though comparison of the ‘likes’ with ‘follows’ wasn’t easy. To attribute these actions, the traffic reference was firs considered and then purchases made through shares or tweets were then subtracted.
Another survey report from Society of Digital Agencies and AnswerLab’s Digital Media Outlook 2011 also indicates that marketers rely more on Facebook for online promotions. The report comprises of a survey on brand marketers, agencies and technologists who primarily use their own websites for digital brand promotion followed by Facebook and then by Twitter. The survey also revealed that these marketers may invest in marketing via Facebook rather than other conventional media channels.
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