Facebook Likes – what value?

What is the Value of a Facebook Like?

I recently read that the value of a Facebook like was $1.07 and then lost the reference source. That’s what happens today in our media and information rich society. So much goes on in a day and a week that at times there seems to be information overload.

In any event, I came across a Mashable article that was titled Facebook “Likes” More Profitable Than Tweets that left no doubt that we are going to be able to continually put a value on both Facebook Likes and Twitter Tweets.

The study was based on Eventbrite and suggested that that the average Tweet drove $0.80 in tickets sales and a Facebook Like drove $1.34 in ticket sales.  The study indicated that Facebook drove more sales than Twitter.

Most interesting and in keeping with the evidence provided by our social sharing program, Socialmc² is that people shared four times more often on Facebook than on Twitter. Interesting as well, 1% of people who landed on an event page shared, yet 10% of people who had purchased a ticket shared, that is significant.

As I have written previously, social sharing and word of mouth advertising is changing the way business is done. From a business perspective you need to build your influencers and your social currency in order to keep pace in this media rich world. Do you need more evidence that there is value in social media?

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Michael Bickerton, Raven5 Ltd, Toronto, April 2011

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