What's the Value of a Like?
Here at BusySeed, we are often asked about Facebook Advertising and more specifically, what exactly a ‘Like’ can do for your business. We broke it down into 6 different categories:
#1 Increased Reach
When someone ‘likes’ a post on Facebook, his or her social activity will be shared on their friends’ feed. This way, you can gain exposure to more people you may not have reached in a routine ad as part of your Facebook Marketing strategy.
#2 Direct Feedback
‘Likes’ can be used as direct feedback from your audience! If a particular post or type of content regularly gets a lot of ‘likes’ and comments, you can assume your audience will respond well to similar material! Use this information to structure your social media marketing and more specifically, your Facebook marketing strategy. Also, make sure to pay attention to which posts are getting the most ‘likes’. Are there comparable themes or visuals? You can create similar posts to get better results with Facebook Advertising.
#3 In-Depth Information
Facebook offers users the option to list all of their interests and hobbies, but few people fill out everything. And even if they did, it may be outdated information. However, Niel Patel suggests that a ‘Like’ is a reliable indication of what your audience is currently interested in and enjoys.
#4 From Like to Buy
Keep in mind that any follower on social media can be turned into a future customer! According to a 2013 study from Syncapse and Hotspex, the average monetary value of a Facebook Fan is a whopping $174. This value is based on your business model. If your business has expensive products or services, the average value of your Facebook fan will generally be higher than those of your competition.
#5 Virtual Stamp of Approval
‘Likes’ on Facebook, especially on posts promoting a product, business, or service, are considered a virtual stamp of approval. In today’s day and age, online likes, comments, and reviews are considered just as seriously as ‘word of mouth’ recommendations.
#6 Getting Analytical
Another common question regards the creation of a social media following and what it means for small businesses. There is no set numerical limit defining what constitutes a social media following. At BusySeed, we consider a following to be a group of people that differ in socioeconomic factors and backgrounds, but all come together for one thing, your business!
A strong following boosts not only your general social media status but also your SEO ranking. Any content published on the internet can be used to positively influence your SEO ranking, especially when that content is getting tons of engagement!
However, a robust online following does much more than just boost your Facebook Marketing stats. Audience members will also show signs of stronger brand loyalty and may even recommend your brand to their friends and family!
Part of a social media marketing strategy includes audience analysis! ‘Likes’ are an essential Facebook Advertising metric to study as they communicate what an audience thinks of your content and how your brand’s following compares to competitors. Does your business need help standing out from the competition? Don’t hesitate to reach out to our team at (888) 353-1484 and start developing your social media marketing strategy today!
