The Value of a Facebook Like
As stated in the earlier proposal, the rise of Facebook has evolved the world of social media. Over a billion of people use Facebook daily in order to interact with family, friends, and even companies. Various corporations use Facebook in order to reach out to its fanbase. They rely on a constant flow of interaction that essentially involves Facebook likes. Thanks to giveaways, contests, and discounts, companies are hoping for a growth of a fanbase that results in an increase of likes.
Many companies today try to boast their image and value by racking up their Facebook likes. But in the age where likes have slowly lost its value because of the flooding of likes on Facebook, how important are likes anymore if they don’t interact with their users. How important are likes if brands with lower amounts of like comment on posts left by fans?
Some companies like CollegeFest make a homebase in college campuses in order to increase awareness of their event. By going to the campuses, they promote free tickets to their weekend-long festival. They hand out free beverages and sponsored products along with the free tickets in exchange for a simple like of their Facebook page. Many other companies have followed this tactic in a way of providing free products to the average “broke” college kid.
Because of this growing way of promoting a companies brand, this travelogue will explore the business tactics of starts ups in order to see if and how Facebook helps their popularity. Additionally, this travelogue will look at the reasons behind their tactics. In hindsight, this travelogue will look at college students and see how and why they like certain brands on Facebook and explore the companies that they like that were part of this “street promotion” tactic.
To give a different perspective of Facebook likes, we’d also look at this article by Gawker – http://gawker.com/5990097/what-your-facebook-likes-say-about-you — that shows what Facebook likes tell about a person. Additionally, there is a PDF that shows the full list of the most “predictive likes.” While not entirely relevant to the whole business tactics for an increase of Facebook likes for a company, it would be interesting to see if there’s any sort of correlation between who likes a certain Facebook page and specific businesses.
Research Questions to be added momentarily…