Can customers share their wishlists with friends? Yes, via email
Before you read the rest of this post, I want you to take a few guesses as to what is social media share worth? Do you think it is .50 or a dollar? Which social media channels do you think provide the most bang for your buck?
You may be surprised to know that in 2014 a social media share was worth, on average, $2.56! Now that number fluctuates quite a bit depending on the industry, and your vertical. Meaning that a high fashion share is worth more while someone selling small trinkets might be worth less.
Typically you’ll see the following:
- An email share is worth $12.41 and continues to dominate online sharing.
- Google+ share is worth $5.62 (and also ties to organic search validity)
- Facebook share is worth $0.80 (due to strict visibility and engagement)
- Twitter Tweet is worth $1.03
- Pinterest Pin is worth $0.67
- Other (Polyvore, Gilt, etc) is generally around $3.46
When you consider that some people share your content a lot you can extrapolate out that a share is sometimes more valuable than a direct purchase and you should try and create ‘shareable’ content to expand your reach out past your own marketing efforts. The best metric to follow is the 70/30 rule. To continue to grow your base customer and brand reach you need to reach 70% new customers and 30% returning customers. Take to social media to make that happen!
From the beginning of the post, how close were you to the actual 2014 figures? What do you think of the numbers for 2014? Share your opinion.