Determining Your Brand’s Value on Facebook
Do you want to get a better handle of the value of your Brand’s Facebook page? Are you trying to determine the perfect Social Media package, but you just aren’t sure how to monetize the value of your Brand’s page? Today, a social media management company released a free tool called the Social Page Evaluator.
It’s really simple; just go to the site, tell them your company’s Facebook “page” name and presto! See what your value is based on factors like number of fans, number of posts per day, number of interactions and so forth.
It’s a fun tool that allows you to gauge the potential value of your Facebook Page to advertisers.
The tool, which was built over 63 hours in a Startup Weekend-style project, is adjustable and interactive. For instance, the base rate of Earned Media Value (or CPM in more traditional terms) is $5, but this can be adjusted to a higher or lower value depending on the brand in question.
Other benefits of the Social Page Evaluator include:
1. Compare to Other Brands: You can compare your Facebook Page with up to three other brands at a time and view a Page’s value history. In addition to the valuation data, there is also a list of best practices for getting the most out of your Facebook Page.
2. “Fan-tasize”: This section lets you manipulate other features like number of posts per day, engagement level and Fan count to see how that affects the valuation.
The formula of this tool was derived from a study of large brands, that may not be applicable to all companies, but it’s still a fun and simple way to better understand your efforts as profitable on Facebook and may help marketers understand the potential advertising power of a Facebook Page.