• About Tom Dougherty

    Tom Dougherty CEO, Stealing Share

    Tom Dougherty is the President and CEO of Stealing Share, Inc., and has helped national and global brands such as Lexus, IKEA and Tide steal market share over his 25-year career.

    An often-quoted source on business and brands, he has been featured recently by the New York Times and CNN, discussing topics ranging from television to Apple to airlines.

    Tom also regularly speaks at conferences as a keynote and break-out speaker. To find out more on inviting him to your speaking engagement and view a video of him speaking, click here.

    You can also reach him via email attomd@stealingshare.com.

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Facebook’s “likes” are worth money?

I have always had trouble understanding what the fuss is about concerning Facebook’s “likes” for brands. Those brands spend an inordinate amount of time on their social media, but our research has never suggested that it creates any kind of preference. It just demonstrates preference brands already have.

Now comes a study by Syncapse that rates each like as being worth $174.17 to your brand. The social intelligence company bases that number on research that shows those who like a brand spend more money on that brand and are more likely to continue buying that brand.

facebook likesDuh.

The Facebook Likes

That’s all fine and dandy, but it speaks to a larger problem for brands that’s far too common. They are still speaking to those who have already chosen them. The art of stealing share is in stealing the customers of your competition. I don’t see where liking a brand on Facebook does that.

To be fair, being on Facebook is something you have to do as a brand. But don’t confuse it with the reasons why target audiences choose.

Worth $174.17? Maybe. To grow, however, it must attract new money, not just count the money it has already has.

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