In a world where everyone is increasingly concerned with how many "likes" or "followers" they have on their Facebook page, sometimes it is important to consider the value in those numbers. What does a "like" mean for a small business owner on Facebook? Can it eventually translate into revenue? Read on to investigate what these functions actually mean for the future of your business.
Defining a "Like":
On a Facebook business page, the "number of likes" are the number of people who have publicly endorsed your company or brand on Facebook. This means that their public profile shows your business under "Pages They Like" and that they may see your posts in their news feed. Quite literally, they like you!
Compare Fans to Non-Fans:
Studies have deemed a Facebook fan (a person who has "liked" you page) as worth $136 more than a customer who is a "non-fan" of the business page. However, a numerical value for a Facebook "like" is difficult to peg, since there are several determining factors at stake (i.e. the size of the business, the value of the product or service, etc.). For more info on the value of your page's likes and how to make the most of them, feel free to set up a free social media consultation with Likeable Local.
"Likes" are more than just a number count at the top of your page! The people who choose to like your page are loyal fans. Anyone who is their friend on Facebook can see loud and clear that they not only like you, but would recommend you to their friends! because of this, a "like" from an individual on Facebook allows you to have access to their network of friends to advertise to, which is an extremely valuable for your business.
To recap, why are "likes" great? "Likes" provide not only credibility, but also expand the amount of "reach" your page and brand can access exponentially.
What can you, as a business owner on Facebook, do to find more value in the likes you acquire?
- Post engaging, thought-provoking content that appeals to members of your community
- Hyper-target your posts or business page in order to reach a specific, more valuable audience
- Run contests and promotions in order to help your loyal Facebook following to share your business with their network. This could result in additional ROI for the business!
If you are serious about increasing your Facebook following, we recommend you take a look at Likeable Local's CEO, Dave Kerpen's tips for increasing your following on Facebook. For more information on how to make sure you are not only receiving new "likes" on your business page, but actually generating value from those individuals, be sure to read our comprehensive, how-to social media guide if you haven't already!