The Like Effect: The Power of Positive Marketing
- Likes Decrease Costs and Increase Profits
- Likes Increase Sales
- Likes Give You Control of the Customer Conversation
- Likes Prove People Are Paying Attention
- Likes Solidify Loyalty
- Likes Create Evangelistic Customers
- There's No Dislike Button
- Can You Do Fear-Based Marketing on Facebook?
- Google "Likes" the Like Button
- Facebook Is About Passions and Interests
- How Often Do Facebookers Like Things?
- Facebook Users Are More Trusting
- Facebook Groups: Off-the-Charts Positivity
- Facebook Page Brag Boards
- Easy Testimonials
- Emotions on Facebook Are Contagious
- Gross National Happiness
Likes Decrease Costs and Increase Profits
When more people like your Facebook ads, your click cost decreases and so does the cost to acquire each fan. When more of your page fans like your page posts:
- You get more visibility and loyalty from each Facebook fan.
- Cost per impression decreases.
- Cost per customer decreases.
- The lifetime value of your customer increases.
ChompOn, a company that provides a white-label platform for Groupon-like deal websites, gathered data from numerous e-commerce stores to try to figure out how much revenue a company can expect on average from each person who likes a page. They found the value of each like to be $8.00 (see Figure 1.1).1 Other studies have found the value of a like to be $3.60,2 $136.383 and $214.81.4 The actual value to your company depends on how effectively you monetize them, and how accurately you can measure the revenue and other value they bring you.
Figure 1.1. ChompOn’s study of the e-commerce value of social actions.