If you remember the early days of social media marketing, then you’ll also remember all those talks where you’d be told that if you could just harness 1% of Facebook’s total audience, you’d have a huge number of potential customers.
In the end, it didn’t quite work out like that, but as user numbers have grown, you’d think that the law of averages would provide you with some new followers along the way.
And according to new research from Trackmaven, that is broadly true. More platforms and more active users (hello millennials) means more brand followers. But (there’s always a but) just how valuable are those new followers?
It’s a complicated question that largely depends on your business. In some cases impressions are enough to support a business model, but I’d wager that in most cases you’d rather have followers who… you know… actually cared about what you had to say.
So some of us are at least attempting to grow better audiences, but for brands a failure hit (and surpass) industry benchmarks could mean that while their audience is getting bigger, the average value of each follower is depreciating.
Let’s take a look at the numbers:
Based on 12 month analysis of 26,965 brands[/caption]
First of all, it’s worth noting sluggish performance by the more established platforms. On Facebook in particular once brands realised people were only following them to get free stuff, they stopped giving it away.
Now there are fairly few reasons to follow big brands on the platform, barring the occasional event opportunity. You can also see a big dip back in March when Facebook cleaned up as many inactive and bot profiles as it could.
According to the report this period saw large brands lose the …
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