Monetizing Facebook Fan Pages

by Jay Deragon on 11/16/2010

Crowd Gatherings

Face book Fan Pages have become the popular method of gathering crowds around common or popular interest. Millions of fans follow specific interest on these pages and share related content. Some of the most popular fan pages include:

  1. Texas Hold’em Poker has over 20 million  fans
  2. Michael Jackson has over 15 million fans
  3. Lady Gaga has over 11 million fans
  4. Taylor Swift and Vin Diesel  each have over 10 million fans
  5. Numerous brands such as Starbucks have over 10 million fans

Fan page practices have become a closet industry with entrepreneurs and social gurus pushing video’s, white papers and services all claiming  best practices for managing fan pages through engagement, advertising, promotions and selling “content ads” as post.

Organizations and individuals are using “fan pages” for multiple purposes.  Samir Balwani writes in his article 5 Elements of a Successful Facebook Fan Page: “For many companies a Facebook fan page is an integral part of their social media campaign. But, what elements help fan pages build up large followings and what can brands do to emulate the success of others? I’ve put together a list of specific elements that I believe have helped create fan pages with large, engaged, followings.”

  1. Networking with other platforms
  2. Creating A Resource
  3. Creating Context That Include Participation
  4. Empowering Pre-Existing Pages
  5. Targeting The Proper Demographics

There are hundreds of other articles proclaiming strategic insights and opportunities to leverage Facebook Fan pages but none seems to address the question of “how can you give fans measurable economic value and earn income from doing so?” The answer to this question requires a shift in thinking about innovative ways to transform social currency (the value created from engaging conversations) to economic rewards for engagement. Traditional approaches to marketing and advertising are not the answer.

So What Is The Answer?

Traditional advertising and marketing schemes on the internet are producing the same old results using the same old methods. Yet the data clearly shows consumer behavior on the net reflects motivation to find value and suppliers are trying to find unique ways to deliver value.  For instance the #1 motivation for “liking” a company, brand or association on Facebook was to receive discounts and promotions.

Coupons, discounts and rewards have been the traditional “hook” for brands and merchants to lure consumers into their stores or sites. The value proposition attracts consumers but the redemption process is still wasteful. Clipping coupons or jumping from one fan page to another to collect the value is time consuming. Time and productivity are value attributes which represent money. If saving money cost time and productivity then the face value of the savings are reduced significantly and sometimes costing more than the savings.

The value consumers seek is out there but the real issue is how can the marketplace deliver it more efficiently and create even more value within the delivery mechanism?

The next (r)evolution in value added technology will be aimed at efficient delivery platforms that enable increased economic returns in the “space” between sellers and buyers. The space that is currently inefficient and non-productive for all participants.

While searching globally for answers to these issues I found the answers locally. The Social Value Network , right here in my home state of Tennessee,  provides a revolutionary technology that enables everyone to create real ROI from social media engagements.

The new technology enables consumers to access discounts from their favorite merchants by downloading coupons, rewards and even cash incentives directly to a debit VISA card. This technology will revolutionize “advertising, marketing and the entire rewards industry”.

In January 2011 the Social Value Network will be launching a branded card for the Nashville Facebook Fan page (over 50k fans) with hundreds of local merchants integrated into the “Nashville Fans” card.  By integrating the branded affinity card into the Nashville Facebook Fan Page fans get the card for free then gain access to discounts and rewards by simply pointing and clicking which reward and discount they want on their personal card. At one click of the mouse coupons and rewards are loaded to the card and redeemed when the user makes the related purchase. This isn’t a credit card where debt accumulates, rather it is a debit card where rewards accumulate and users can convert the rewards into real money.

Users gain real value and save time. Brands and merchants provide the value at less cost than traditional coupons and marketing schemes. The folks behind the Nashville Fan Page get paid from merchant who want to offer discounts to the fans. No push, no advertising just simply matching sellers with willing buyers and a innovative way to exchange value.

More on this the Social Value Network in tomorrow’s post.

For more information about the Nashville Fans card contact Sherman Mohr at [email protected]

For more information about the Social Value Network send an email to [email protected]

{ 3 comments }

MONETIZE FAN PAGES May 24, 2012 at 3:44 pm

May be useful to somebody. A service that automates your monetization of fan pages, groups, etc.

https://www.facebook.com/groups/how.to.monetize.fan.pages.groups/

Ola Ayeni November 19, 2010 at 6:37 am

Nice article. A new spin to an old idea.

Demetria November 16, 2010 at 11:02 am

Very interesting. I’d love to find out more about social value networks. (And I had never heard of the “fan cards”). Unique concept.

Comments on this entry are closed.

{ 22 trackbacks }

Previous post:

Next post: