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In this age of Facebook and Twitter, capitalizing on new media is both an opportunity and a conundrum for many companies. Social media can be a great way to connect and stay top-of-mind with consumers, but how can you really quantify what a “like” on Facebook is worth?
This is a question the country’s No. 3 craft brewer recently set out to answer, and it now says it’s determined what its Facebook fans mean to its bottom line.
According to Ad Age , Colorado's New Belgium Brewing recently commissioned a survey of its Facebook followers in which it determined the average New Belgium Facebook fan spends $260 per year on the brand. That translates to $50.7 million annually — or roughly half the brewery’s sales each year.
Not a bad return on what New Belgium tells Ad Age was a $235,000 investment it made on its social-media presence last year “mostly dedicated to Facebook, including both app development and advertising.”
This year New Belgium is planning on upping the ante. They’re rolling out a new beer in April and have set aside $1 million towards the launch, with almost 20 percent set aside for digital and social media.
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