Adobe has just published a short whitepaper on the business value of Facebook Likes, including a practical hands-on guide for leveraging the ubiquitous button (download). It’ll be motherhood and apple pie for many, and is a soft-sell for the Adobe Online Marketing Suite, but it contains one of the best articulations of what social commerce ‘does’ we seen – social commerce transforms purchase funnels into viral loops. Sweet.
The paper can be downloaded here, but heres the speed summary:
The Like button drives word of mouth and referral traffic from Facebook, and when optimised can generate significant, measurable returns.
- Over 40% of Levi’s traffic from all sources came from Facebook after the company added the Like button to its website. Facebook visitors spend on average 57% more
- American Eagle added the Like button next to every product on its site and found Facebook-referred visitors spent an average of 57% more money than those not referred by Facebook.
- The average media site integrated with the Like button sees a 300% increase in referral traffic.
The Like Button transforms the purchase/marketing funnel into a viral loop – awareness-interest-decision-action-recommendation-awareness… In other words, social media creates what Google calls a Zmot – a zero moment of truth when recommendations create awareness.
A four step process will help businesses optimise business returns from the Like button;
- Track interactions to determine how effective the Like button is on site traffic, engagement, and conversion
- Capture available data through Facebook Insights (at www. facebook.com/insights) to better understand the demographic profiles of visitors and customers who interact with the Like button
- Leverage these insights to optimize Like button placement and style, and help ensure a positive experience on the website and on the Facebook fan page
- Use this data to reach potential customers on Facebook more effectively through targeted advertising campaigns and Sponsored Stories (at https://www. facebook.com/adsmarketing/)