Study: The Value Of Social Commerce (or) How A Facebook Like Is Worth $12 In Ticket Sales
A recent Eventbrite study of Facebook 'Likes' during the ticket buying process found some surprising results that should cause every musician marketer to redouble their social media and social commerce efforts. The study found that within the Eventbrite ticketing platform:
- Over the last six months ending in March, 40% of Facebook sharing happened on the event page (pre-purchase) vs. 60% on the order confirmation page (post-purchase). Takeaway: The motivation to share is higher once the purchase is made.
- 1% of the people who looked at an event page before purchasing a ticket shared it. But once on the order confirmation page 10% people shared it.
- A post-purchase share on Facebook also drives 20% more ticket sales than a pre-purchase one.
This chart illustrates the statistics:
- Over the last six months, sharing on Facebook was 4X the amount on Twitter.
- A Facebook “Like” drives on average $1.34 in ticket sales, compared with a tweet that drives on average $.80. The value of the Facebook “Like” has steadily increased as adoption has taken off.
Concert Tickets Are #1
In the Eventbrite study, Facebook shares are most valuable for music events and concerts at over $12 per share: "While people are more likely to share business-related events, sharing information about social events drives the most sales."