She Likes Me, She Likes Me Not. What is the Value of a Facebook Like?

One of the most frequent requests I hear from customers is, “I want more Likes on Facebook. How do I get more Likes?” What is a Like worth anyway?

Likes were originally conceived to give brand fans a way to publicly declare their love and their loyalty to you, but their value has been diluted over time because they have become so pervasive. There are Like buttons on corporate pages, order confirmation pages, photo sharing sites, and now the analog version of “Please Like us on Facebook” printed on your retail receipt. We all want to be “Liked,” but the truth is the vast majority of people who Like your Facebook page never return.

So the question you should be asking yourself is not how do I get more Likes, but how can I monetize the ones I have.

Discovering the currency of your brand fans.

A Like is worth nothing if the person who clicked the Like button never engages. So how do you engage your brand fans and empower them to bring you more Likes? Find out what the currency of your fans is and “pay” them. Put yourself in the shoes of your fans and ask yourself why you would come back to the brand page.

Some examples of currencies and payouts:

  • Healthcare: your currency is knowledge and information. Your fans expect up-to-date articles on healthcare, links to groundbreaking studies, and a forum for questions.These are the items they would be willing to share to their network.
    Bright Idea: Create a custom Facebook tab called “Clip of the Week,” and share a different health tip video every week, and encourage people to share and comment.
  • Music Artist: Your currency is exclusivity. Your fans want to be the first to know that you’re eating a burger at a dive in some little town between tour stops. They want their friends to know that you just released a new single and they got the download before anyone because they Liked your page. Update your page with personal status updates on a regular basis so your fans have a reason to come back.
    Bright Idea: Create a Facebook tab with a Like Gate and a link to an exclusive download of your latest single.
  • B2C: You assume your currency is the all mighty deal and the discount, but that’s not always true. Status updates about product discounts result in the lowest rate of interaction  of all Facebook posts. Your best currency is opinion. Create a weekly poll and ask your fans for their opinion. This will engage your fans, give you a high rate of interaction, and encourage them to share the content out to their network.
    Bright Idea: Create a poll that lets fans vote on the next flavor of ice cream you’ll produce, a limited edition color for a car, or a new menu item.

It’s not always about money.

The bottom line is that monetizing your fans doesn’t always mean selling them something. If you keep them engaged you will earn their trust and loyalty over time, and they will be more likely to buy when you do present them with that offer.

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