In the words of the amazing Sally Field, “You like me, you really like me.” Our obsession with approvals or “likes” hasn’t changed much since the actress’ famous Academy Award acceptance speech. Today we most closely associate a “like” with Facebook, but many have raised an important question — what is the true value of a Facebook “like”? This topic permeates many social media/PR conversations, alongside 1) how do we increase our “likes” and 2) how do we measure our followers’ engagement?
A recent study from Experian Hitwise (and covered by Ragan’s Kevin Allen) is beginning to answer the value question, estimating that for retailers, each acquired “like” leads to 20 extra visits to the company’s website in a year. That is a pretty powerful number — proving that businesses shouldn’t ignore their Facebook presence.
Today, participating in Facebook is almost as important as having a website. Given the network’s 500 million user base (and counting), businesses are missing a huge opportunity if they don’t at least have a basic business page with contact information. This goes for BtoC and BtoB companies alike. It’s obvious Facebook users enjoy not only connecting with friends and family, but also with their favorite businesses, brands and products. According to Facebook, the average user is connected to 80 community pages, groups and events.
The value of a Facebook “like” will be different for every company based on size, business type, industry, location and more. And in the end, your goal shouldn’t be to rack up the largest number of “likes”, but instead to focus on a core group of quality connections who engage with your business, want to read your posts, view your photos/videos and create ongoing dialogue.
Not on Facebook yet and need more reason to jump on board? Check out my colleague Eve Sheridan’s blog post here.