Ladies love Diet Coke. Children love Disney movies. Teenagers love MTV and Youtube. These brands are atop the most popular Facebook pages list*, right below Facebook itself.
More love, more fame.
More fame, more worth.
With massive Facebook and Twitter followings, the mentioned brands could be called the cool kids in the business of being popular.
An article we came across on NPR a few weeks ago gave a simple, but sweet explanation of how social popularity can help brands out. The coolest kids in high school were the most liked, envied, and thus talked about all the time. They also excelled because of it. This was Arthur O’Connor’s example of when that fairy dust of awesomeness strikes some companies, those companies tend to do extremely well. They are liked, envied, and talked about on social media constantly. Because of this, they’re worth more.
In an experiment, O’Connor kept track of the likes and daily share prices of a few well-known brands over a years time. Using data from 30 companies, including Adidas and Best Buy, he proved his theory on popularity; As the number of likes increased, so did the stock price. Your social media accounts matter. Better yet, what your fans are saying about you matters.
Are you paying attention to the conversation on your accounts, about your business? What’s being said? Who’s talking? Do they even like you and your product, or are they just complaining?
A few simple things you can do with Colabo right now (free trial on www.colabo.com):
- create a board with your company or product name and see what comes up.
- Become continually aware of the discussion, discover your fans and clients and how they see you, engage and keep an ear out on a daily basis through your board.
- look at the analytics in your Colabo board, find how data correlates and what the underlying causes.
- Find something great? re-post it with through your official social channels and on your website.
- Find nothing at all? Take notice, it means you need to ignite the conversation, help define the hashtags being used.
Turn the spotlight around and analyze yourself, a bit like O’Connor describes. Each and every “like” counts to your bottom line.
What does the social conversation say about your performance?
The point is to be looking and listening everywhere (not just your pages!) taking social information and correlate it to your business goals and interests.
Try Colabo’s free limited version and see what people are saying about your brand, product, industry or topic of choice in less than a minute!
For more on Colabo, check out our website: www.colabo.com