How Much is a Facebook Event Share Worth?
We all know how great Facebook is for marketing, right? Do we really know it though?
For example do you know the worthiness of a Facebook share of your event?
This is a burning question for a lot of us marketers. Whenever we have to allocate budget to social marketing, we start to experience ROI related headaches.
The thing is that without knowing how much is going to come back it becomes difficult to set objectives and KPIs.
Eventbrite has been among the first industry players to try to give a proper answer to this question.
In this first, cornerstone report on social commerce they gave us an idea of the impact of social media on selling event tickets. They also suggested a more analytical perspective looking at the behaviours associated with sharing.
Eventbrite has just announced a new piece of research that looks at social commerce in the UK.
The Key Findings
In their own words:
Like in the US, Facebook has the highest value per share in the UK. When someone shares a UK event on Facebook, on average it generates £2.25 in additional gross ticket sales. A share on Twitter drives an average of £1.80, and an event shared on LinkedIn generates an average of £1.24 in additional event revenue
A Few Reasons Why You Need This Information
While we don’t know the event type breakdown of such analysis we can definitely reach some conclusions:
– The local use of social media impacts your event marketing strategy
– I share Eventbrite’s view that
“[…]Facebook is most likely to generate additional ticket sales for an event, because the connections we have on Facebook most closely represent the people we actually know and spend time with offline.”
Your social marketing mix cannot ignore Facebook. You will likely generate ticket sales from Facebook shares. Regardless of your country.
– If you are based in the UK you can draw conclusions in terms of Advertising on the above 3 social networks. How much do you pay to get a Like on Facebook or a mention on Twitter?
You’ll be able to quickly work out budgets and KPIs.
In invite you to read the post with the full analysis on Eventbrite’s blog a lot of free learning for us event lovers.