Looks like all those shares and retweets that artists and their teams constantly seek could be worth more than we may even realize. In a recent study conducted by independent and self-service ticketing platform Eventbrite, the total amount of dollars and visits per social media share has increased substantially over the last two years. The findings were from an October 2012 study that examined revenue and traffic benefits gained through the social sharing of events on Facebook, Twitter and LinkedIn.
The United States, home to all three social media giants examined in the study, saw a consistent pattern in its value of shares that is also reflective of the rest of the world. Facebook was seen to lead in the value per share at $4.20 in the Unites States. The next runner-up was Twitter, which showed a significant increase in value per share at $1.66, while LinkedIn pulled in $.67 for each share of an event.
“Because events are inherently social, it’s not surprising that we see a compound effect of sharing,” said Tamara Mendolsohn, Eventbrite’s VP of Marketing. “It’s interesting to see the values and traffic driven from a share continue to rise despite the increase in volume of sharing across social networks.”
In measuring social commerce behavior, Eventbrite identified two important metrics to track: Dollars Per Share (the average value of the additional tickets sold through this share) and Visits Per Share (the amount of additional traffic generated by each act of sharing).
Dollars Per Share nearly doubled across social networks, with Facebook driving the most revenue of any social network. Since 2010, the average and aggregate DPS increased 81% from $1.78 to $3.23. Twitter saw the greatest increase at 330% from $0.43 to $1.85, while Facebook also saw healthy growth at 65% – growing from $2.52 to $4.15. Dollars per LinkedIn share increased only slightly at 2%, from $0.90 to $0.92.
The data then indicates that every time an event is shared on Facebook worldwide, it drives on average of $4.15 in additional revenue back to the organizer. On average across all social networks, the value of a social share drives $3.23 in additional revenue for the event each time someone shares it.
When it comes to Visits Per Share, Twitter shares drove more event page traffic than Facebook and LinkedIn. Over the last two years, Eventbrite found that the average number of people who clicked on one of their event links shared through social media increased from 7 to 17 visits per share. Links shared on Facebook now drive 14 visits back to Eventbrite, compared with 11 in 2010. Twitter drives the most visits with 33 visits per share, while LinkedIn users visit Eventbrite event pages an average of 10 times for every link that’s shared.
Eventbrite found that Italy shares the most of any country at a 14% share rate – double those of Australia and Ireland (each at 7%), the two countries with the lowest share rates. They also discovered that U.K. saw the most clicks on average. Ireland was an interesting case in that it had the lowest share rate, but the highest Dollars Per Share, driving an average of $10.37 in additional ticket sales on Facebook and $9.03 for every tweet.
Canada was found to have the highest Dollars Per Share and is more evenly shared across networks. On average, every Facebook share in Canada drove $4.51 in additional ticket sales, while Canadian tweets drive $2.97. LinkedIn in Canada is also high compared to other countries, driving $3.13 per share.
Check out the infographic below for more key findings, or head to Eventbrite's blog for the full Social Commerce Report and methodology.