Conversation with consumers is seen as the biggest contributor to creating brand value on Facebook and Myspace, research shows. In order for companies to achieve success, they must look beyond simply having users as a 'friend' or a 'fan' of their brand.
Tom Chapman, marketing professional and member of the Chartered Institute of Marketing, today released research findings from his study 'Social network marketing, engagement marketing and brands', which examines the marketing power of online social networks Facebook and MySpace.
According to the study only 12% of Facebook users have become a 'fan' of a brand and only 23% of MySpace users have added a brand to their 'friend' list.
However, nearly three-quarters of users said they would feel closer to a brand if they listened to their opinions and responded to questions or comments.
The report said that brands should throw out ideas or topics amongst users in which they can start their own discussions, and don't necessarily have to be about the brand and could involve negative comments.
Negative comments need to be answered, not ignored, and comments kept up, not removed, as an exercise in transparency, said the report.
The conversation with consumers has to be of interest to them, such as giving them something to engage with, rather than directly asking for feedback on a project.
The report found that by listening to friends or fans points of view and concerns on these platforms and accepting criticism while giving users honest information, a deeper relationship can be formed with increased brand loyalty.
Further findings reveal that social network users become largely irritated and tend to ignore promotions from brands and a majority of users would not remain a fan, or friend of a brand, that regularly sent them promotions.
Giving evidence to Facebook's recent trouble with its 'Beacon' advertising programme, 88% of Facebook users and 91% of Myspace users would not want their purchases to be made public to friends via notices or news feeds.
The study, which can be found the website, was conducted using quantitative and qualitative research with an online survey of Facebook and MySpace users aged 18 to 50 and in-depth interviews with executives from Innocent drinks, BBC Radio 1, MediaCom, Holler and MySpace UK.
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