If you’re looking for a dollar amount for all the social media shares you’ve been getting for your event, here’s a starting point.
Global events promotion and ticketing platform Eventbrite has conducted one of the first studies that aims to quantify exactly how much revenue is being generated by a social media share. The platform studied the sales data from all the events promoted on through its platform in 2013, tracking and analyzing which social sharing options users chose, as well as which channel drew specific purchases.
For Australia, which is where the Eventbrite study was based, the research found that a share on Twitter generated $10.70, way more than Facebook, which only generated $4.10 per share. Globally, although the numbers were lower, Twitter still came out on top, generating $5.70 per share on average, with $3.40 for Facebook. LinkedIn was in third place, generating $1 for every share.
While it’s definitely worth noting the higher ROI being generated by Twitter compared to Facebook, there are a couple of caveats. For starters, the analysis only applies to event promotion on social media, not the marketing of other products such as retail, services or B2B. It may very well be that Twitter just lends itself better to event marketing than Facebook.
However, the results do make sense if you consider the declining reach of Facebook posts. With more people joining Facebook everyday, news feeds are more cluttered, and with their organic reach being downgraded, brands are less likely to have their posts be seen by most of their followers.
At least with Twitter, brands can be assured that their tweets will be sent out to every one of their followers, and possibly retweeted so that even non-followers can see it. For the first time, it looks like more people are likely to see a tweet from a brand than a Facebook page post, and for marketers constantly frustrated by Facebook’s unfriendly algorithm, it’s an important statistic to note about a rival social media platform.
