Every marketer over their Facebook Page simply wants to gather countless amounts of likes. But unless you happen to be a celebrity or own some famous brand, collecting millions of likes over your Facebook page is simply a difficult task. If you aspire to collect few thousands for instance ten thousands of likes, this could be a possible figure for you to reach. In fact, there are many ways of buying these likes or getting the number of Facebook fans via paid advertising and promotional options. Every Like over your Facebook counts and could be now valued to certain amount. Yes, you heard it right. Recently Facebook was valued over the stock market and amount that was calculated was 10 billion dollars. This makes Facebook a ten billion dollar company, which generates its revenues from paid adverting and similar other things. Apart from asking people to carry out actions like buying products online or registering for any email list or visiting any website, one of the biggest things, which Facebook demand from its users is to take actions in the form of Likes. Well let’s check out the value of these likes.
Finding out the exact figure
If you have the idea of digital marketing, you certainly understand maximum CPA (cost per acquisition) or CPC (cost per click). Using different metrics, you can make out the number of people coming to your site and getting converted. In the other words, you could work out the exact value of your efforts from the collected data. With similar logic, calculating the Facebook likes too is possible for your fan page. If you browse over search engines like Google to find out the value of the Facebook likes, you are likely to find few arbitrary figures of 2, 8 or 10 dollars. If you look at the recent figures, it sums to around 10.8 dollars while most of the places now have considered the value of Facebook likes as 8 dollars, while for a Facebook share, it is 12 dollars. Though you could have your own yardstick of calculating the exact figure, but generally speaking, these figures could be called as appropriate ones.
Reasons why there is no fitting value for the Facebook likes
Firstly, you need to shun all your dreams and hopes to have a single figure for the Facebook likes since it’s not practical. Secondly, again you are supposed to crush your optimistic approach by knowing a fact that there can never be a simple formula to calculate the real value of the same. However, you could end up finding out a general idea of working out with any figure along with some reasoning for your boss to know that these things are not simple to work out. If you look at the reasons, why it’s difficult to come out with a standard figure there seems to be many things, which have to be considered. For instance, if you look at the other advertising options, you do not pose any value for people looking at your ads or the way he or she has seen it since you define as per the return on investment (ROI) element, which you get from these marketing efforts. So if you have invested 5000 dollars on print ad and you generate the same amount from your sales, the number of people seen the ad makes no difference to you.
However, when it comes to social media, determining the value of Facebook likes seems to be relevant since coming out with the same would prove beneficial for the marketers. The figure you get could be scalable, for instance, if your Facebook Fan community has around 750 fans then these people can be worthy to an amount of 3500 dollars on an annual basis and as you increase to further in terms of fans say, getting 2,500, the worthiness could increase up to 10,000 dollars on an yearly basis. However, one thing, you need to remember about this value calculation- the value would vary from one brand or industry to other. There are many reasons or factors, which bring this difference, which could include the way you get your fan base (paid or free), the type of products you are selling (with popular products as higher and uncommon ones as lesser), your awareness about Facebook and the available resources over the same along with things like your success mantra, set budget and the way you monitor your success.
Your own ways of working out the value of Facebook likes
The good news is that you can work out your own figure of your Facebook community, which is found over your brand fan page. This could be carried out with using analytics software wherein you could see the number of people coming to your site. For instance, if you have 100 visitors on your site, with 5 percent conversion rate and revenue of 1000 dollars you can use the hard data to calculate the exact figure. This could be worked out by comparing the cost per click in your SEM or PPC campaign. For instance, if you invest 2 dollars per person then you are supposed to check the amount of people coming from your Facebook page. If you get 100 people per month, simply multiply this figure with 2 dollars and you get the answer of 200 dollars as your monthly value for your Facebook activity. Though this is not exact science, yet could be called as something, which you can rely on to work out your own Facebook like value.
There is a huge discussion, which is seen across the calculating the value of the Facebook Likes, wherein you will see different experts analyzing in different ways. However, the above description could be still called as some basic ideas pertaining to evaluating the Facebook likes.
About The Author: Kelly is a writer/blogger. She loves writing, travelling and reading books. She contributes to Hydroxycut