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12 eye-openers on Facebook “Likes” and money

“Everyone wants more of two things: Facebook “Likes” and money”

Economists study one.  Social media marketers study the other.  Everyone says the same thing about both.  “I want to get more now.  I want to get more quickly.  And I want to get more for less”  For Facebook “Likes” and money, their true value is different.  But their effect is, in many respects, the same.

12 eye-openers on Facebook “Likes and money

  • People don’t really like reading about “Likes”.  Or, at least admitting that they do.
  • People really like receiving “Likes.”  But the joy is short.  And then they seek more.
  • “Likes” are a currency that everyone can print.  As we print more “Likes”, the less they’re worth.
  • “Likes” can make you happy.  But, once you have enough, happiness plateaus.
  • People can change the world by how they use their “Likes”.
  • Choosing not to like can change the world even more.
  • For businesses, likes get you credibility.  But soon, you can’t become more credible without doing something worthy.
  • The Beatles song “Can’t buy me love” nailed it.  With likes, too.
  • If there’s a “Likes” bubble, what happens when it bursts?  What’s gonna support your business?
  • Getting likes becomes addicting.  Same with money.
  • There is a market of people selling ways to get “Likes” quickly.  “Get Rich Quick” is no different.  Completely scammy.
  • People of modest “Like” accounts help one another grow their pile.  Cross promotion, genuine interaction, etc.
  • People and businesses with extreme wealth of “Likes” are focused on growth and preserving their own.
  • “Likes” can be begged for.
  • When you die, you can’t take “Likes” with you.

From a business perspective

For large businesses, acquiring likes is important.  Save them up and when there’s a good opportunity, deploy the capital.  And, even though the value is decreasing, the race to accumulate more is unchanged.

For start-ups, getting likes early-on is good for building credibility.  Then, it helps organically grow the brand.  And the community.

There’s definite value in businesses having “Likes”.  But if you are getting into the game late, you can’t expect to catch up.  You have to think small at first and build from there.  JP Morgan started with a few dollars.  And a few “Likes”.

Individual impact

Getting likes is fun.  And can be addicting.  But after a while, they lose their meaning.  And value.  And excitement.  Like money.

Giving “Likes” is powerful.  They can help start-ups.  Or brighten a friends day.  Or make them feel connected. Money is similar.

For the individual, the real power is in not giving the “Like”.  Maybe it’s a company you don’t believe in.  Maybe it’s a person you don’t care for.  The “dislike” always has an impact.  Just like with money, you can take your business elsewhere.

But at the end of the day, Facebook “Likes” and money don’t mean anything.  They, however, can be a tool.  A tool for giving or a tool for not giving (in protest).  And choosing how you give is what’s meaningful.  After all, with Facebook “Likes” and money, where are you taking them?

Spare a Like?

How do you make friends on social networks?  For blogs, instagram and twitter, it’s basically the same.  Reblog a post.  Comment on a photo.  Reply to a tweet.

Give, give, give.

The logic is simple.  Give someone appreciation for their work, and they’ll return the favor.  Also a pretty good plan for life.

Facebook, however, lets you skip this step.  Without any giving at all, you can ask for “Likes” in mass.  Please like my facebook fan page.  We’re acquaintances, right?

Just ask, ask, ask.

It’s like a homeless guy asking for a dollar.  Yes, he’ll get some.  But isn’t he more likely to get the dollar if he has already given your facebook fan page a like?

The “Do not Like” feeling

When you “Do not Like” an organization’s fan page, how does it make you feel?

“I’m healthy.  I’ll never give McDonald’s a ‘Like’.”

“I have a quiet facebook newsfeed.  I’ll never give DraftStreet a ‘Like'”

“I don’t like that guy.  I’ll never give Lifeisnoyoke a ‘Like'”

The impact “Do not Like” of varies.  Fortune 500 companies hardly feel it.  Startups are knicked.  The grassroots initiative is bruised.  But, there’s always impact.  And making an impact feels good.

What do you like?

When you “Like” an organization’s fan page, what is your message?

Let’s say you “Like” McDonald’s.  That’s great.  You buy their product and are not ashamed to admit it.

Let’s say you “Like” DraftStreet.  That’s great.  You use their service and want to join the conversation.

Let’s say you “Like” lifeisnoyoke.  That’s great.  You appreciate their content and want more.

The message varies when you “Like” an organization’s fan page.  The result, however, does not.  “Liking” a fan page is a recommendation.  A recommendation to your entire network.  And their network.  And their networks.

That’s change-the-world stuff.  Powerful.

So, what organizations did you “Like” today?  My recommendation is that you think about it.


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