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4 Working Paper, July 9, 2013 Department of Agricultural Economics Mississippi State University

5 https://facebookeconomics101.com

6 Woodville, MS Organizations: 7 Pilot Program 2013 May 1, 2013 to April 30, 2014

7 Mississippi Bricks to Clicks Members Woodville, MS

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9 Facebook Business Pages

10 https://www.facebook.com/stepinfaithdaycare

11 https://www.facebook.com/thebetterhalfgifts

12 https://www.facebook.com/WoodvilleMainStreetMarket

13 https://www.facebook.com/woodvillemainstreet

14 https://www.facebook.com/24autosales

15 https://www.facebook.com/WoodvilleFest

16 https://www.facebook.com/MgFarms

17 Facebook Page Results… Woodville, MS May 1, 2013April 30, 2014May 1, 2013April 30, 2014 LikesFriends of Fans Company/OrganizationStartEndStartEnd MG Farms0000 Step In Faith Daycare Center0000 The Better Half Gifts & Assessories Main Street Market & Café Woodville Deer and Wildlife Festival Auto Sales Woodville Wilkinson County Main Street Association

18 80/20/20 Metrics Woodville, MS “Do 80 percent of our recommended engagement activities for a 20 day business cycle and your number of Likes and Friends of Fans should grow by 20 percent, other things equal.”

19 80/20/20 Metrics Example Woodville, MS

20 Baseline Facebook Page Value Estimation Approach Page Value Assumptions: -Per “Like” valued at $109 -Per “Friends of Fan valued at $109 -Only 1% of FF growth considered actual value to business FB Page Value = Likes ($) + FF ($) Likes ($) = Chg. in Likes*$109 FF ($) = (Chg. in FF*0.01)*$109 Economic Value Created ($): Likes ($) + FF ($)

21 Baseline Facebook Page Value ($) Woodville, MS May 1, 2013April 30, 2014May 1, 2013April 30, 2014 LikesFriends of FansFacebook Page Value ($)Economic Value Created ($) Company/OrganizationStartEndStartEndLikesFriends of Fans MG Farms0000$0 Step In Faith Daycare Center0000$0 The Better Half Gifts & Assessories $42,619$123,386$166,005 Main Street Market & Café $17,767$52,409$70,176 Woodville Deer and Wildlife Festival $88,944$236,281$325, Auto Sales $3,488$15,684$19,172 Woodville Wilkinson County Main Street Association $5,341$22,698$28,039 Page Value Assumptions: -Per “Like” valued at $109 -Per “Friends of Fan valued at $109 -Only 1% of FF growth considered actual value to business FB Page Value = Likes ($) + FF ($) - Likes ($) = Chg. in Likes*$109 - FF ($) = (Chg. in FF*0.01)*$109 Economic Value Created ($): Likes ($) + FF ($)


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