Dynamic Business Magazine (07/07/14) Zillman, Stephanie
The value that social media confers to e-commerce businesses was measured by Eventbrite to specifically determine the portion of revenue and the number of pageviews that a single customer's share will earn. The online ticketing provider analyzed millions of transactions across its marketplace last year to demonstrate that a single share across Facebook, Twitter, or LinkedIn produces $4.80 in additional revenue. Moreover, Twitter dominates as the most valuable social channel in Australia, and also is the leading channel for driving traffic compared to Facebook and LinkedIn. "This data clearly demonstrates the power of social commerce and how the speed and connectivity of social networks can drive customer engagement and ultimately sales," says Eventbrite's Elsita Meyer-Brandt. "It also shows the importance of cultivating and nurturing a community of fans and making it super easy for them to share information on social media." Eventbrite research shows Twitter's advantage over rival social media channels in Australia is likely due to Facebook having a deeper Australian presence, "leading to more cluttered and potentially less relevant newsfeeds," according to Meyer-Brandt. Eventbrite found food events and performances derive the most value from social media sharing, followed by seminars and music events. Conventions and participatory sports events had slightly less value, while the most traffic was concentrated around food and social events, followed by seminars, conferences, and entertainment events.