Skip to main content

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?

Comments

  1. The "Like" botton is great, well worth $1.00, instead of giving a company your email address so they can flood your inbox with sales offers that you'll never even look at. You can simply click "like" on facebook which will allow a user and the company to share contend with one another, such as sales or feedback. This is a great way to stay up to date with the company. Many companies share exclusive news and deals that is only available to facebook fans.

    These fan pages have also become very interactive, companies can update status's to share information about upcoming sales & events. As well as post pictures & videos of products or commercials. Users can comment on anything these companies post which is a great form of costumer feedback.

    ReplyDelete
  2. I think $1 for the "Like" button is more than reasonable. As was said in the video this form of advertising for a company is worth a lot more and companies are only having to pay a mere dollar. Facebook is a great way to advertise contests, giveaways, new deals and products, without having to flood everyone's inbox. It also allows for customers to leave a comment and receive feedback in a timely manner. Employers can view comments on what they are doing well and what needs improvement. I personally am a fan of the companies Edible Arrangements, Starbucks, 106.7, and A&F and their news always pops-up on my Facebook, which is a great way for me to stay informed. For example, Starbucks promotes when their "buy one get one after 2pm" deal is going on on Facebook, so instead of having to check their website, because I am a fan, it automatically comes up in my newsfeed when this event is going on. Also, right now Edible Arrangements is promoting deals for Valentine's Day, deals that I most likely would have no idea about if I wasn't a fan on Facebook. It keeps me, the customer, up to date, and saves me time from having to go to companies websites and see what's going on/what they are offering. I love that you can go to any companies page and leave a comment and employers can respond, without having to send an annoying email. It's a great informal way for employers and their customers to get in contact with each other and it's EASY. It is so easy to click on any survey or link that might be posted. Not that it isn't in email, but I check Facebook way more than I check my email so it is more convenient and easier I guess to access.


    Over the summer I spent time developing a company's fan page for Facebook, and I guess the best way to attract users attention is with 1) a bright logo or attractive logo at least and 2) with offers/deals/contests/ giveaways. If there is constantly a reason to have to check a companies page for my benefit, I will. And again, it also allows me to leave my feedback in public which helps the company and takes only two seconds of my time rather than writing a lengthy email of my appreciation.

    ReplyDelete
  3. Companies who advertise with facebook spend around $1 per ”like”. At first I was stunned at the cost but after hearing the new report I was convinced it was worth it. The amounts of people who sign on to facebook a day and spend so much time on it; there are 650 million facebook users. The offers and giveaways and even more advertisements can be communicated to al of those people has shown to increase sales. I think that creating these social graphs for companies is part of the future generation. The next big thing is online advertisement, which is also going green. The Internet is expanding by the day; eventually everything will be online and paperless. The fact that facebook is making money off of a website for social networking is amazing. The advertising strategy that uses other popular known sites to promote through is ingenious it targets a wide market. Constant updates and communicating directly to the target market increase sales dramatically. Overall, facebook advertising is the next big move for any major corporation.

    -Michaela Motta

    ReplyDelete
  4. The like button on facebook is definitely worth the $1 per person. It is an excellent way to promote your business. Whenever a friend likes something, it shows up on their friend's news feed. Everyone can see what everyone else is "liking." Once someone likes something, the business can then keep advertising through that page so the $1 is for more than just one advertisement per person. Businesses can put other facebook advertisements or create events to promote their business. For example, Starbucks creates events for their seasonal drinks. This way people can say that they are "attending" the Starbucks event and their friends can see it too. Creating a page that people can like on facebook is definitely effective at promoting your business.

    -Michelle Berger

    ReplyDelete

Post a Comment

Popular posts from this blog

Social media engagement is immune to COVID-19 (by Steven Valenzuela)

In the unparalleled world of COVID-19, individuals are flooded with choices: whether it be what to eat or what church service to watch. While there are marketing strategies to get consumers to purchase products to immediately increase sales, it may be a more beneficial to engage with low spending consumers in the short term, so that businesses can keep them for the long term.   Social media game strong   During this time, it is crucial to keep social media posts constant and consistently more than ever before. A recent podcast by eMarketer reports that social media outlets such as Facebook have seen a significant rise in usage. The reality is that individuals have more time on their hands, which is why it is important for businesses to utilize their free time to create content for their social media channels. In a recent interview with the hospitality net, Leland Pillsbury stated  “Customers are going to come back...And if you allow your competitors to reengage with the guests before

The repositioning of Ten Ren’s Tea Time (by Eddie Long)

Ten Ren’s Tea was founded in 1953 and now operates one hundred retail stores globally, providing the finest teas to their loyal customers worldwide. Ten Ren’s combines modern technology and traditional methods when processing tea leaves to provide customers with the highest quality tea that aids in improving the quality of life and health for their customers. Ten Ren’s Tea Time, the restaurant, has a total of nine locations in the Southern California area. New Image: Ten Ren’s Tea Time recently changed its logo, as shown below. We can say that the marketing team wanted a change of the company’s logo to regain customer’s attention and regain their sales.  Just like they changed their logo, they also updated the website to fit the new theme. Their website appears more modernized than their previous design s, which can attract potential customers and returning customers. The company wanted to show its target market that they know what customers want and can accommodate any customer’s

Do you know where your prospects hang out during the #DeleteFacebook movement?

Facebook used to the cool place where everybody hangs out. Not long ago, Facebook was ranked the most visited website in the world , and the website where Americans spent the most time. Facebook page then became the most popular social media platform for business-to-consumer communications among various types of organizations. In recent years, however, Facebook faced several backlashes toward the platform’s data privacy practices and its CEO. Facebook is experiencing some challenges of maintaining its popularity among internet users, some of whom even call for a #DeleteFacebook movement . I myself, also notice a shift in my teenaged students’ interest in Facebook, even before the #DeleteFacebook backlash. So, if Facebook is no longer the cool place where everybody hangs out, which social media platforms can we use to communicate with our prospective consumers? The most popular social media platforms among U.S. teens According to a 2018 Pew Research Center report