That very question – what is a Facebook ‘like’worth? – was posted recently on John Lawson’s The Ecommerce Group’s page on Facebook. Here are some of the responses.
“I have 234 likes and have no evidence that any of those people have ever bought anything from me, or ever will. I think the time I have spent developing the page has made each ‘like’ cost me. However, I like having the presence and posting things.”
“So far, a tad bit over $0.”
“Pretty close to $0, although I think it occasionally falls below that number.”
“For me and my business $0 I experimented with it for months. I get more bang from a Youtube video and they pay ME! I know for some FB is rolling, did not drop that way for me.”
“It has no value to my business. I have got a fan page with 180 likes and no sales from it at all. I get way more exposure and sales action from Pinterest.”
“Zero or less in terms of sales. Twitter and Pinterest are much more effective. ”
“For me – facebooks like attributing to actual purchases would be $0. However, there has been quite a bit of evidence that social signals, much like: facebook likes, give you a SEO boost or at the very minimum improve your authority in the eyes of an end user.”
Clearly, this is too small a sample to be of real value, and most of the folks who post seem to be B2C vendors (while most of you all are B2B), but it struck me as interesting on a couple of levels.
- Are people “doing” Facebook because they feel they have to in order to be competitive and therefore are willing to do it even though it costs them money? (Similar to taking credit cards – it’s a real expense, but many feel they can’t compete if they don’t.)
- Are people defining the value too narrowly? A few of the comments on the thread, including the last one above, hint at or openly discuss taking a longer term or broader view, much in the same way that TV advertising was viewed for years. (Brand building and awareness as opposed to direct sales conversions.)
I’d love to hear your thoughts on the value of the digital marketing data you track.
- Email subscribers
- EMail open rates and click-throughs
- Website visitors
- Website page views
- Website time on site
- Social media followers
- Social media ‘likes’
- Social media interactions