What is the true value of a Facebook Like?

When it comes to determining the success of a social media strategy, Facebook “Like” volume is often cited as a key metric. The number of Facebook Likes generated is generally translated into performance – a campaign with a lot of Likes is deemed more successful than one that garnered only a few.

It’s easy to see why small businesses would make Likes their goal – they are easy to measure and at face value, they do increase the exposure of a brand. But do Likes really mean that consumers are more likely to make purchases from a specific brand? The answer to this question isn’t cut and dry.

For example, a recent report from eVoc Insights suggests that 59 percent of Facebook users have “Liked” a brand or company page in the last six months. Moreover, 54 percent of respondents who had Liked a business page said they are more likely to purchase a product or service from that organization – both of these statistics bode well for entrepreneurs.

However, a separate study conducted the Ehrenberg-Bass Institute suggests that consumers may be saying one thing and doing another. The marketing think tank found a mere 1 percent of brand fans engage with the companies they follow on the social network, taking into consideration Likes, comments, posts and content shares.

“Limited consumer engagement with brands on Facebook suggests there may be a disconnect between the reasons why consumers actually like a brand and the reasons brands think consumers are liking their page,” eMarketer advises.

Another report from the CMO Council further supports that notion. Whereas many companies believe consumers chose to follow them because they were loyal fans, shoppers had their own reasons. For example, 67 percent follow a company to be eligible for exclusive offers, 60 percent to interact with other customers to share their experience and 50 percent for customer service issues.

This represents a problem that small business owners need to address. If consumers are Liking their pages explicitly to redeem offers, then they won’t provide much long-term value. In that regard, campaigns generating a high number of Likes may not be helping companies achieve other business goals.

Business owners need to think from the perspective of a consumer as they design their social media strategy. Will a certain initiative support meaningful connections? Or does it simply encourage consumers to take advantage of a company for a one-time promotion? Entrepreneurs should weigh both outcomes before launching a social media effort.

“The link between ‘likes’ and loyalty remains unclear. Although consumers respond favorably about their likelihood to purchase from a brand they follow on Facebook, that’s not overly evident from their Facebook timelines,” eMarketer adds. “Marketers should keep in mind that for consumers, Facebook remains primarily a place to interact with peers and share experiences.”

That isn’t to say that Like-gating is a particularly bad tactic – businesses just need to keep in mind the results that Like-mongering campaigns tend to lead to. Requiring users to Like a Facebook brand to access content will generate Likes, which will enable entrepreneurs to target a broader audience through advertising efforts on the social network.

How do you acquire Facebook Likes? Have your previous Facebook marketing strategies helped you acquire a responsive and interactive audience?

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