Facebook ‘Likes’ are a great way for website owners, brand managers and other internet users to evaluate the popularity of their products, yet despite the huge success of the Facebook ‘Like’ button its value is hard to discern. Now that Facebook has removed fake ‘Likes’ from its page e-shipping cart provider Ecwid has decided to explore Facebook ‘Like’ ROI.
Metrics for the value of Facebook ‘Likes’ are all over the place, some company’s have placed the value at $3.60 while one nonprofit found a value of $214.81.
Ecwid examined data from the more than 40,000 Facebook stores it currently powers. Examining 12-months of cumulative sales from those storefronts the company compared each online retailers sales numbers against the number of ‘Likes’ that store had obtained. The company found that each ‘Like’ on average earns 21 cents in annual sales.
The study did find that the top ten percent of stores by sales volume witnessed a nice increase to $1.20 annually per ‘Like’ while the top one percent of stores say $21.49 in ‘Like’ value.
Ecwid is careful to note that an increase in ‘Likes’ does not necessarily mean an increase in sales.