Retail Surgery: Is it possible to monetise Facebook’s ‘Like’ function?

Social media experts have for years been attempting to put a figure on the worth of a Facebook ‘Like’ without much success. The roadblock marketers often run into is that users don’t always associate it with ecommerce.

“People like to interact and share on the network but aren’t always looking to make purchases,” explains Loren McDonald, vice-president of industry relations at digital marketing agency Silverpop.

However, Facebook should not be abandoned by retailers. “Interacting and conversing with your Facebook audience is one of the best ways to gain a keen insight into your customers,” says McDonald. “This understanding can then be used to drive conversation and interest around your brand on

Facebook – something that the network has been designed to do.”

Once a stable and engaged fan base has been built, it is then time to begin using Facebook as a sales conversion platform, he adds. Directing users to email campaigns for the latest deals or giving advice relating to a product are just two methods of raising awareness and promoting retail activity to a listening audience.

But this content must still be engaging, stresses McDonald, “otherwise fans will simply switch off”.

“It is paramount to strike a balance between promotional posts and those that just interest the reader. Getting this balance right will help you to develop loyal customer relationships, and it is these relationships that will turn Facebook into a profitable enterprise.”