On the way back from RE BarCamp St. Louis, while catching up on my magazine reading, I discovered a very interesting article entitled “Five Steps to Social Currency” in the May issue of Fast Company.
The entire article was utterly fascinating in its explanation of how consumer brands are still very confused in their usage of social, their objectives and false sense of achievement.
When chatting with people who are actively involved in the social media realm (in a business role), I am still surprised to hear that the focus on their success seems to coincide with the number of followers or fans they have.
Here is a perfect of example of why more isn’t always better and why quality is ultimately more important than quantity….
The Numbers:
- Dunkin’ Donuts has 80% fewer followers on Twitter.
- Dunkin Dounts has roughly 1.5 million “Likes” on Facebook, while Starbucks has 7.9 million.
The Truth:
- Dunkin’ Donuts fans/followers are 30% more likely to recommend the brand to a friend, family member or colleague.
- People are 50% more likely to have heard something good things about Dunkin’ Donuts than Starbucks.
So What?
Having thousands (or in this case, millions) of fans and followers is pretty cool. I won’t dispute that, but what do these fans and followers really mean to your business?
Are they finding value in your service or product offerings? Do you provide an enjoyable and memorable customer experience both on and offline? Have you created engaging events, forums or initiatives that allow these people to interact with you and your brand and differentiate you from your competition?
In Starbucks case, the answer would be no. The percentage of people recommending their product proves this. When a person is passionate about your brand, they WILL tell people about it. You know, that feeling when you’ve discovered something new or had a wonderful experience and you can’t wait to tell all those close to you about it.
Numbers can be deceiving. In turn, businesses should not solely look at the number of fans, followers, blog subscribers, etc. and be fooled into thinking that they have some type of a competitive edge. Knowing how the consumer really feels about your product/service is imperative. Behaviors, attitudes, competitor positioning, past experiences and future expectations are all important components involved in converting followers, fans and customers into loyal, lifelong advocates….areas in which even the most aesthetically pleasing Facebook Fanpage or social media “strategy” can fall short in addressing.
It’s easy to “Like” something on Facebook – just a simple click of a button. It only takes a moment to follow someone on Twitter. But, as a consumer, actively taking the time and having the passion to convey your allegiance to a particular business or brand is a completely different story.