The Price Tag of “Like” on Facebook

There is a price tag for almost everything, well, except for those priceless items. According to this Wall Street Journal video, the “Like” button on Facebook also has a price tag. It costs a company approximately $1 to “motivate” Facebook users to like the brand or the company. Is this $1 well spent?

Being the No. 1 visited website and the website on which Americans spend most time, Facebook has 650 million users. 50% of them spend half an hour on Facebook every day. Online retailers see massive draw of traffic from Facebook. Amazon, for example, increased the traffic drawn from Facebook by 300% in one year. Very impressive! In addition, Facebook also creates a two-way communication platform, which can provide a company rich and valuable market research data.

Do you think that $1 is reasonable for the “Like” button on Facebook? How so? What suggestions do you have for helping a company or a brand attract Facebook users’ attention and make them “Like” the company or brand?

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