Quality vs Quantity in Social Media – Why Quantity is ImportantDate: 2011.11.01 | Posted by: Victor |
5 Reasons Why Quantity Likes are Important (and Not Just Quality Likes)
A lot of social media and marketing related sites talk about the value of quality in social media versus quantity. Say for example, everybody on your Twitter site engages in constructive conversations with you – that’s quality followers. And if all your Facebook likes writes positive comments on your wall – that’s quality likes. What good is having 10,000 Facebook likes if none of your “likers” end up buying your product? Surprisingly, plenty. In a study by ChompOn.com about “likes”, it was discovered that a like was worth approximately $8 by comparing the number of immediate sales of a liked product after the like (of course, very debatable estimates, but this is one measure – other studies I’ve read have estimated the cost of a like to as low as $4 and as high as $27 through the use of different metrics).
Outside of the dollar value of a “like”, here are 5 reasons why quantity is just as important as quality:
- Credibility – Let’s say you’re looking to purchase a new car. With no other perceptual dimension, would you be more inclined to purchase the car from the dealership with ten thousand people liking it, or the one with four likes on their Facebook page? Of course, with quality reviews as well, there is more influence; however, quantity does send a message of its own.
- Free Promotion – The other day, I saw a friend like a Facebook page. It was Kishimoto Japanese Kitchen + Sushi Bar. I’ve never been there, but I ended up going to their Facebook page and liking them as well. Why? Well, the food looked good and I wanted to keep this restaurant front of mind so that I can one day end up going there. Hopefully for Kishimoto, another one of my Facebook friends saw me like this restaurant and might decide to eat there as well. Cheap, easy, word-of-mouth without any real words.
- Quantity Makes Money – Many ways to make money online with quantity, there’s the option of being a YouTube partner (if your social media channel of following is YouTube), or there’s other ways to monetize your following.
- Marketing Impressions – A lot of marketing textbooks talk about the necessity of having multiple impressions (or touch points) before a conversion (or sale) is possible. The number varies between 6 and 12, depending on industry. By pushing content through your Facebook feed to your various likers, you’re able to ensure impressions to your likers.
- Mimetic Process – Remember your first elementary school crush? I remember mine; absolutely loved listening to songs by Jewel. What did I do? I ended up downloading every single Jewel song and learning every single lyric – much to my chagrin. These days, instead of doing that, I can simply announce my enthusiasm for a band, singer, restaurant or whatever, by simply “liking” whatever whoever I like, likes. Suddenly – look, we have something in common!
Also keep in mind that 90% of consumers trust peer recommendations and 70% of consumers trust recommendations online. Although not as strong as a qualitative written recommendation on Yelp, a “like” does say something and does have value.
Tip: In a 2011 study, it was found that a Facebook like is more profitable than a tweet.