The Price Of A Facebook “Like”
Recently it was reported that the estimated value of each Facebook “Like” would equal $174.17. Many people in the real world immediately realized that this was a number put out by a Social Media Marketing company to promote their own abilities. This number cannot possibly represent the real world, and here are a few reasons why. It is far more likely that this study was an attempt to blow a hell of a lot of smoke up businesses collective butts in an attempt to sell more Social Media Packages.
Apples, Oranges And WTF
Calculations and tabulations of likes for specific markets would have to incorporate different pricing and revenue structures. The sample data used was specific to big dollar and big sales items. There is no way of assuming that the likes on a BMW or Voltzwagon page will weigh the same impact as those on the local sandwich shop. There are arguments that could be made for each being more viable, but to equate them as the same is ludicrous. One example is the timber trade. While they may only have 200-300 “likes” per page, their equipment sells for $500,000 per unit. Equating those results to those of Taco Bell is just a tad disingenuous.
Fake Likes Drive Down Value?
We’ve heard all the rumors, and those of us in internet marketing know they are true. Fake likes are what celebs live on. It was estimated that over half of the facebook and twitter followers for both Lady Gaga and Justin Beeber are completely fake. Anyone in the internet marketing world has seen the ads on Fiverr to add 500 fans to your page for a mere $5.00 and any pride you may have had. Equating the value of these likes as being remotely close to $174.17 is both foolish and insulting to the reader.
Modern Products Allow For Better Ad Dispersion Across Competitor Likes.
Recently a marketing company developed a way to directly market to fans of pages other than your own; specifically, your competition’s. Given that this places the consumers directly in your stream, regardless of whether they like your page or not, the point is pretty well moot. Sure, we could now argue that likes are that much more valuable because you can harvest those of your competitor, but seriously, quit beating the same tired drum. The ongoing drive for companies to invest in social media marketers for a Digital, White Whales is simply a marketing ploy in its own right, and usually only delivers for the marketer. Remember, marketers are always selling for one business first… their own