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What’s a Facebook “Like” worth? How about a Senate seat.

Written by in Strategy
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Facebook continues it’s remarkable – and seemingly daily – evolution from a simple social network to a remarkable storehouse of predictive data and social metrics. Case in point: the election. The ballot boxes contained the newest fact-fodder, as they revealed Facebook’s ability to predict winners in races across the full political spectrum, from the Senate to the town council.

  With data from a snapshot of 98 House races, Facebook was able to predict the winner with 74% certainty. Calling the Senate races was even more accurate, with 81% of those races picked correctly. Their methodology? The simple and almost ubiquitous like button; the more fans a candidate had, the greater the likelihood of victory. Now that’s brand loyalty.

  Of all the questions we’re asked by clients and prospective clients, one of the most common is “what’s the value of a Facebook friend?” Despite all the evidence to the contrary, many CMO’s and brand managers still aren’t convinced that a friend is also an advocate, a defender, a champion and a proselytizer. Wrap all that up in to one package and you have something that’s close to the holy grail of marketing and advertising. True, I didn’t provide an exact answer as to what a Facebook friend is worth.
For that answer I’ll defer to one of the new freshman Senators.

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