What Is the Value of A Facebook Like?
What Is the Value of a Facebook “Like”? This is one question that has been plaguing the minds of social media users ever since these platforms, especially Facebook, came about.
ROI for digital marketers
For people who make a living online such as bloggers, copywriters and digital marketers, this is perhaps more important to them in terms of ROI rather than sheer vanity as would be the case for a social user.
Whichever way you choose to look at it, the Facebook ‘like’ is one of the most recognized buttons online today. This fact on its own should indicate the significance of that seemingly little button on your Facebook page.
Facebook and business exposure
As soon as Facebook became the mammoth that it is now, businesses worldwide started trying to figure out how to get the most out of its millions of unique users and the kind of exposure it accorded them. That was back then when it was just a few million people frequenting Facebook. But even then, you could tell that the ‘like’ button had some significance.
Facebook as a platform is built around this button. It is the one sure way that someone can tell every one of his/her friends that they agree with something online. Back then, for businesses, the main aim was to get as many likes as they could. This was mainly because getting a ‘like’ meant that the user had opened up lines of communication. With every single like, a user would from that point on, receive updates on the brands on-goings on their news feed. What this meant for businesses is that, they could engage with the customer and hopefully cultivate a loyal client.
This was all back then when Facebook had only a few million users. Today Facebook gets more than a billion unique visitors every single month. And with everything going mobile, people spend at least 70% of their mobile time browsing Facebook.
The amount of exposure a brand can get through these likes is staggering, to say the least. This has greatly raised the value of the Facebook ‘Like’, both intrinsically and extrinsically. For those of you who think in monetary terms, it has been determined that a single Facebook like is now equivalent to roughly $174. Of course, that is a number based on a lot of different factors. But what it shows is that a Facebook like is worth quite a bit, for both an individual and especially a business.
Even though $174 is not a number to scoff at by any means, it is still quite arbitrary. Due to the many different factors that go into defining the value of something as non-quantifiable as a like, it is understandable that there would be many different figures associated with the actual value.
Business Insider took a good look at the different factors that businesses look at when determining the value of a like and came up with quite an illuminating article. It shows that the actual value of a Facebook like varies depending on what you need it to achieve for you as a business.
Facebook likes and business brands
Let’s talk about what a Facebook like means to a business brand. People often buy from famous brands, people they trust or brands they see a lot of people trust. This multitudinous trust acts as one big referral. That is what a Facebook like does for a business. The more likes a business has, the more popular it appears to other potential clients. This means that you do not have to worry so much about individual referrals, the likes will take care of that for you.
For marketing purposes, different studies have shown that the topics people like on Facebook, says a lot about their gender, age as well as their political standpoints. This means that a business can tell just which demography is more sympathetic to their message and thus adjust their marketing tactics accordingly.
If you get the right amount of people liking your page and actively engaging through comments and shares, you can be assured that you are getting a fair amount of airtime in front of the right audience. For old people, know other old people and young people know other young people. Either way, you will be talking to the right demography as per your Facebook ‘Likes’.
Key reasons why people like things on Facebook
You might have noticed that the ‘like’ button on Facebook might be often misused or inappropriately used. The use of social media is one of the best forms of raising awareness today. This means that many courses use Facebook for their campaigns.
A food-relief charity might post a picture of a starving village for example and you will see plenty of likes. To the uninitiated, this may seem sadistic, we are not supposed to like people suffering. But the reason people do this is so they can show the world that they have taken notice of the plight in question and might do something about it. Either that or:
- They want to follow the story closely and find out ways to help
- Want to appear sympathetic
- They want to keep with the trend, especially if the page is getting a lot of likes
Whatever the reason for these sorts of likes, you can be sure that it raises the issues that need raising and that people will sit up and notice. So as long as the value of a Facebook like is still in question, you can rest assured in the knowledge that it is highly valuable. Much more than the aforementioned $174, a Facebook ‘like’ is like a worldwide public service announcement that almost everybody can take part in. Well, at least a billion people plus monthly as things stand.
This is why most small business owners and even big conglomerates are going out of their way to hire freelance social media marketers and companies to help them get as many likes as possible on Facebook as well as a strong following on the other social media platforms.