Money, Money, Money – Facebook users follow brands for discounts, and Twitter for social badging
Some days ago, we could read that Facebook is becoming kind of an outlet for brands to engage with their fans and which brands scored the best. A recent survey from ExactTarget and Co-Tweet now shows product discounts and “social badging” are the main motivations for “liking” brands on Facebook.
43% of Facebook users interviewed said they “like,” or are fans of, at least one brand on Facebook. Among those, 40% admit that the reason for staying friends with the brands is to receive discounts and promotions. Interestingly enough for me is that already 39% state they do so to make their brand affiliations public versus 23% of interviewed people said they follow brands on Twitter for social-badging purposes.
Some more findings of the study is basically saying that marketers are “welcome as participants on social networks” as long as it supports free enterprise, not because they seek out interactions with marketers on Facebook.
Further key findings on ExactTarget’s study Facebook X-Factors why people like brands on Facebook…
- 34% like brands in order to stay informed about company activities
- 33% want to get updates on future products
- 17% are more likely to buy after liking that brand on Facebook
Again we can see in this study that Facebook is definitely more a platform for women than for men to keep up relationships (63% vs. 54%), connecting with old friends (68% vs. 56%), and managing their social lives (41% vs. 34%).
As the top performing brands on Facebook are named…
Oreo (Nabisco): Top among deal seekers across all age groups (Facebook drivers: coupons and freebies).
Wal-Mart: Top among cost-savings opportunitiy seekers across all age and gender.
Victoria’s Secret: Top among especially Millennials as of new product offerings featured.
iTunes: Top among Millennials as of highlighting new movie and music releases.
Dove: Top among women based on their iinitial “Campaign for Real Beauty”.
The findings are based on a survey of 1,506 consumers age 15+ in April 2010 and consumer interviews among 44 people in March 2010.