Marketers and company representatives often debate on the value of Facebook ‘likes’. Till a few years back, the number of likes, shares or comments was used as a barometer to measure the effectiveness of the digital marketing strategy of any company. But times have changed and marketers are questioning the real value of the same in monetary terms. Thus a controlled study was conducted by the Harvard Business Review to test this theory. It seems that while there is a correlation between likes any brand page receives and its visibility, it rarely translates into real earned dollars. There is no causation effect on family members or friends. On the other hand, these ‘likes’ are emblematic of pull marketing methods. Likes alone won’t matter until supplemented by customer testimonials, third party reviews, brand partnerships or influencer advocacy. This phenomena is called ‘social proofing’ where the more number of likes, shares or comments tend to increase the brand’s credibility. On the other hand, a company page with few of them, leads to negative perceptions being built. Any social media page must undergo a SWOT Analysis to assess its positioning. Also the said social media page must be the epicenter of all major marketing activities done. That is how likes can truly be converted to earn real monetary value.

Source:http://marketingland.com/what-is-the-value-of-a-like-212700?

Uploaded Date: 18th May 2017