Facebook’s likes are worth money?
Tom Dougherty, CEO – Stealing Share
21 May 2013
Well, not really
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.
“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.”
Now comes a study by Syncapse that rates each Facebook like is 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 Likes are speaking to the choir
That’s all fine and dandy, but depending on Facebook likes 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.
UCLA basketball thieves Tom Dougherty, CEO - Stealing Share 16 November 2017 UCLA basketball brand as it stands now The UCLA basketball brand suffers a major wound. It has been many years since NCAA basketball fans talked about the BRAND of UCLA basketball. The heyday...
Daniel Lanois Tom Dougherty, CEO - Stealing Share 14 November 2017 Daniel Lanois, best record producer you've never heard of When listening to music, you often keep listening to your latest obsession. My latest? Bob Dylan’s genius producer, Daniel Lanois. So much so...
Airline seating Tom Dougherty, CEO - Stealing Share 13 November 2017 Airline seating tightening with no recourse Airline seating is worsening and there’s nothing you can do about it. Yes, the airlines have us in a headlock and we’re all basically powerless to do...