How Much Is A Facebook Like Worth?
by Jo Shaer, on May 21, 2012
The statistics showed that a fan who has liked the Best Buy Page was 5.3 times more likely to make a purchase than a non-fan. And those purchasing fans were almost twice as likely to recommend that brand.
If you remember that the average user has 140-150 friends, that's how many people will possibly see that they have liked your page. If they check in and add a photo and who they are with, that possibility becomes even greater because the status update stand out more.
Here's a great post about the actual monetary value of a Facebook Like.
However, the report does not seem to touch on sponsored stories. This is where you like a page and the business are then able to pay Facebook to put a box on the personal profiles of all your friends showing that you liked their product or service. How much is that worth to any business? The ability to access the friends of a fan and show them their recommendation is a fantastic bonus. The majority of us are influenced by our friends' purchasing decisions. And that 'like' tends to suggest that we have either bought or would consider buying from that brand.
But what makes it rather disturbing is that it happens without asking your permission first.
It was really interesting to see one of Facebook's VPs squirming when asked about this.