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Why Facebook Likes are Overrated

Written By : Clifford Blodgett

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One of the most common mistakes in social media marketing may be placing too much emphasis on the number of “likes” your business page garners. While gathering likes is a good first step, that’s all it is. By investing too much of their expectations in a single number, many financial advisors overlook the myriad of tools and strategies which are so much more important to their overall success on Facebook. It’s kind of like performing thousands of stomach crunches, while neglecting every other form of exercise, and then becoming dismayed when you don’t get into the shape you want.

Letter FOften, we see pages generate a high number of likes, but then those fans apparently forget all about the business. The engagement rate is low, and Facebook users like the page and then forget about it shortly afterward, often because it does not continue to interest them or serve them in any way.

So what is more important than likes? It’s something called “engagement rate”, and it measures the degree to which the people who like your page are actually interacting with you. Mathematically, it is calculated by the number of people talking about your brand, divided by the number of likes your page has received. This is a much more reliable measure of your social media success, because it gauges whether the people who have liked your page actually remember your business and care about it.

Engagement consists of all the things you want your Facebook fans to do: They are commenting on your posts, sharing your content, and mentioning you to other Facebook users. It’s easy to see why this activity is so much more valuable than simply being liked and forgotten thousands of times!

While other financial advisors are aimlessly chasing a high number of likes, check out your engagement rate. Between one and two percent is considered acceptable, although many businesses can achieve higher rates than that by adopting very creative and aggressive marketing strategies. If your engagement rate is within this range, then you know your efforts are paying off. If your rate is low, it’s time to rethink your social media strategy.  Be on the lookout for future articles where we’ll discuss methods of improving your engagement rate!

FOR INSURANCE PROFESSIONAL USE ONLY. NOT FOR USE WITH THE GENERAL PUBLIC 14217 – 2015/3/5

Filed under: Financial Advisor Marketing, Social Media for Financial Advisors

Written By :

Clifford Blodgett is the Director of Digital Marketing and Demand Generation at Creative One. He is integral in financial advisor interactive communications strategies, website management, social media, content marketing , and overall demand generation.

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