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article imageA Facebook 'Like' worth more for businesses than a 'tweet'?

By Stephanie Medeiros     Mar 17, 2011 in Internet
Further cementing its place on the Internet, it has been reported that the Facebook "Like" feature is considerably more profitable than a tweet on Twitter. Or at least, for one event marketing company.
Social media has become a huge driving force for any company, whether they are a small business or a international corporation. Airline companies, fashion retailers and even food companies can be found using Facebook and Twitter to stay in touch with their customers. However, one of the bigger questions asked by these businesses is: "What will be worth more: the Facebook Like or the tweet?"
Mashable reports, alongside Eventbrite's research conducted of using both social networking platforms, that Facebook brought in more returns for the event company. Eventbrite announced on Wednesday that during a span of six months, the average tweet produced an extra .80 cents while the Like had an average of $1.34; however, Eventbrite also concluded that although the Facebook Like brought in more sales, the tweet is now considered to be "valued" more.
Last year during the month of October, Eventbrite conducted the same research for twelve weeks, and during that time the numbers were drastically different. They reported in their blog post that the social platforms they use kept at a steady $1.78, but Facebook was at $2.53 per share.
This research is what the technology industry call "Social Commerce"; the "intersection" of social media and eCommerce, as Eventbrite explains.
A blog post at Eventbrite's website also revealed that the biggest value per share for event tickets are music related and the second most is fundraisers whereas the least values for them were business related events. However, the highest "share rate"--how many times a user linked an event to their friends or followers--were business events, such as conferences and seminars.
Eventbrite's director of marketing, Tamara Mendelsohn, said this about the results: "We carefully track sharing behavior in an effort to help event organizers tap into a new world of distribution for their event promotion, but the findings apply broadly to all e-commerce businesses, because the foundations of e-commerce are shifting as the social graph becomes a meaningful influence in driving transactions."
However, it should be noted that this research was using only Eventbrite's own services and marketing techniques as well as with their own in-house social analytic software. Results can vary for each company, depending on their presence with social media and networking. A business that uses strictly Twitter for their sales will see better results from Twitter and vice-versa.
Also, while Facebook boasts of about 500 million active users, there are also a wide range of websites that businesses can use to market themselves. Eventbrite also took this into consideration, however, did not publish the exact numbers of their return rate from others.
More about Facebook, Twitter, Social media, Social media network, Tweet
 
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