Walmart accounts for 1 in every 5 consumer packaged goods products sold in America. For a brand with this much retail clout, what sort of ROI do you think they get from their Facebook page? A lot by many measures. Consider this.
1. BY ONE ESTIMATE, WALMART’S FACEBOOK PAGE IS WORTH $586,787,180. According to WOMMA, the average value of a Facebook fan is $71.84 and Walmart has 8,167,973 fans. Facebook fans of a brand are 28% more likely to continue using the brand and 41% more likely to recommend it to a friend. $71.84 is an average. It’s generally higher for well known brands.
2. WALMART HAS 11,366 “CHECK INS;” THAT’S A GROUP OF LOYAL CUSTOMERS WAITING TO HEAR ABOUT SPECIALS. Facebook “Check-Ins” let retailers offer deals based on people’s Facebook Check-Ins when they visit. You can run Check-In deals across multiple store locations, and create different types of deals to achieve different business objectives. Imagine how this can boost business.
3. 40% OF CONSUMERS VISIT A RETAILER’S FACEBOOK PAGE BEFORE THEIR WEBSITE AND THE AVERAGE NUMBER OF RETAILERS THEY FOLLOW IS 6. These statistics come from Shop.org. Are consumers buying from social networks after they visit? See for yourself.
4. THERE ARE HIGH LEVELS OF CONSUMER ENGAGEMENT RELATED TO SALES. Walmart posts roughly 2X/day. Most of their posts are product related and conservatively get over 1000+ Likes and Comments each. Here is a post about a special deal on an iPad. Since 80% of people who are shopping on the internet right now are looking for reviews and recommendations, do you think this post generated sales?
5. WALMART IS SAVINGS ON MARKET RESEARCH AND TRACKING OUT-OF-STOCKS. What do consumers think of Klondike Bars and can they find them in their local Walmart. You could spend a lot of money on market research and product tracking software or you could ask them on Facebook for free. Plus, you’d see results a lot faster.
If you spend time on Walmart’s Facebook page, you’ll notice that not everyone is a fan of Walmart which I credit Walmart for publishing. There are also a good number of more targeted Walmart retail Facebook site that serve as further testimony of Facebook’s sales value.
There are manpower costs for Walmart to maintain, track and measure results. Based on the numbers, my guess is the people at Walmart believe the ROI is worth it.
If you manufacture a product with retail distribution, have you considered the value of a relationship with your retailers on their Facebook pages?