When it comes to Facebook and your business, we all want more.
More Facebook Likes.
But do you know why you want more? Is having more worth your time and money?
The smart people at Hubspot developed a calculator to help you figure out the value of a Facebook Like. And it really drives home how important having more Likes (or fans, if you prefer) is to your business.
But it doesn't just tell you how much a Like is worth. It also shows you the importance of your activity on Facebook.
How to Calculate the Value of a Facebook Like
Here's how it works. You answer a series of questions:
1. Number of current Facebook Likes
2. Number of Unlikes every day
3. Number of Facebook posts per day
4. Number of clicks per Facebook post
5. Your site's conversion rate
6. Your average conversion value
Once you input all of your answers, the calculator will give you a value/like.
Here's what I like about this tool from Hubspot.
1. If you can answer all of the questions (good for you!) then you will be encouraged to post more often, improve the clickthrough rate on Facebook posts, increase the number of likes or work to decrease the number of unlikes.
2. If you couldn't answer all of the questions, it should motivate you to start tracking important data like conversion rates and clicks. When you pay attention to your analytics (on your website and Facebook Page), you can make better decisions and work smarter. Plus, these important details will help guide you in the types of things you should consider when brainstorming Facebook marketing ideas.
And that's part of the reason why I love this tool. It really is a wakeup call to get you to start paying attention to the details. That way you can have a better understanding of the output of your Facebook efforts.
So get started! You can access the Value of a Like tool and start making some decisions on what's best for your business.
If you are ready to increase the likes on your Facebook Page, be sure to download my free ebook, 50 Facebook Marketing Ideas.