We all know that social media is all about sharing. Some people have a preference for Facebook, others Twitter and the older demographic leans towards email and in the mix are other social media channels such as Linkedin.
How much is sharing worth? We all know it is worth something but what?
Eventbrite has just unveiled a report that measures what social media sharing is worth in real dollars.
Eventbrite is a new digital age social commerce event ticketing company and this concept is very strong especially for this type of industry where when you are going to or planning to attend an event, you constantly are telling your friends online and offline
They leverage social media centric tools to tap into the world's overlapping social graphs to spread event news and purchase behavior.
If you visit their site you will notice that they are encouraging not just buying the tickets but sharing them on social media channels.
These tools are built specifically to empower organizers and attendees alike to turn events into truly social experiences.
They have developed in house metrics that specifically and accurately measures the first tangible data to quantify the value and impact of social media in driving eCommerce. They are tracking a new set of metrics that measure social commerce success.
Eventbrite defines social commerce as transactions that are driven through sharing on social platforms such as Facebook, Twitter and LinkedIn and through email sharing via the Eventbrite "email friends" application.
So what were the findings over the 12 weeks they collected the data?
- One share on Facebook equals $2.52
- A share on Twitter equals $0.43
- A share on LinkedIn equals $0.90
- And a share through our "email friends" application equals $2.34
So a share on Facebook is worth in real dollar terms 600% more than a share on Twitter.
This is what social commerce looks like.
So what were some of the other findings?
- Facebook is now the #1 referring site for traffic to the company's site, surpassing Google as people discover events that their friends are sharing and they click through to find out more.
- On average each Facebook share drives 11 visits back to Eventbrite.com.
- Averaging across all social media channels, one share drives over 7 visits back to Eventbrite.com
Social commerce brings together social promotion and transactions into a single, unified experience, which breaks the old rules of eCommerce and demands new metrics. And the exciting news is that this is just the beginning.
Could you apply this model or some of its elements to your niche or industry?
Image by Lyelton