I ask, how many “likes” does your dealership facebook page have? More importantly, how did you get those likes?
Marketers value the ubiquitous Facebook Like for two main reasons:
- Your likes are a numerical way to represent your popularity. Every thumbs-up is a public display of brand loyalty and recognition. Marketers hope that an extended social media reach equates to brand advocacy among consumers – an ideal that has yet to be proven.
- Facebook Likes help your messages travel further. Here’s the way it’s supposed to work: as you gather likes, your fans see more of your content and this drives engagement. If you can build a bigger following, you have the chance to speak to a larger segment of your target audience.
At least, this is what we’re told. Facebook sold us on the value of likes-as-advertising back in 2012, right before it went public. The company was valued at $100 billion, but only because it showed the potential to exponentially increase ad revenues. As a result, Facebook opened it’s own ad exchange, allowing users to bid on ad space to promote their page on the social networking site.