Everyone in Silicon Valley is wearing a celebratory hoodie today, to commemorate Facebook’s official listing on the Nasdaq. We’re excited for our pals in Palo Alto, and we look forward to seeing what new challenges Facebook will take on, now as a public company.
As you know, we spend a lot of time thinking about how social sharing relates to events, and have a personal example of the power of Facebook’s platform. In our first first social commerce report we noted that, on average, one share on Facebook drives an additional $2.52 in ticket sales. It makes sense that, when people share their ticket purchases with their friends, it drives more business back to the event organizer. People are motivated to buy tickets to an event when they see that their friends are going to be there, too.
In our second social commerce report, we looked at when people share event information on Facebook. 40% of the shares on our platform are pre-purchase and 60% are post-purchase. That’s the difference between ‘Hey guys, check out this event! Should we go?’ and ‘Hey guys, I’m going to this event, you should too!’ Not surprisingly, those post-purchase shares drive 20% more ticket sales per share than a pre-purchase share. Once that first friend commits, people are more likely to join in.
So here’s to Facebook! Here’s to sharing events! And here’s to geeking out over social commerce data for many more years to come!