Management & Strategy
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How swedish companies are buying facebook " Like" which has made "like" to become a strong commodity in managementThursday, 10 May 2012
A major observation which is likely not new but growing is that which companies are buying the “like” on facebook.
This is another way mostly smaller Swedish companies that lack proper exposure are trying to make themselves relevant via social media which is one of the best places to show case their operations and products. But is this a sustainable approach to build audience and promote a business?
The Swedish daily Dagens Nyehter reports that as it is getting more important for businesses to become visible in social media like Facebook, many are making it look like they are “liked” by people who recommend them. But it turns out that the “like” icon has now become a commodity which companies are willing to pay people who "like" them.
900 million people are said to have accounts on Facebook, according to the company’s most recent compilation. Therefore to appear popular or “liked” on the world's largest social network is a great strategy for business. It however remains if this is part of a strategy and a sustainable one for a smaller business to show case itself. One would expect that organic and gradual growth those slow could be better because the audience then would be the “real” support of that company.
But experts say that consumers spend more and more into social media and accessed less the traditional advertisement on normal media (tv, radio etc). People carry gadgets today with them which connected to the internet and check their facebook pages and twitter on the go.
Therefore, making one’s company, product or service on one of these networks accessed averagely about 10 times a day is money well spent. That said, companies are investing in social media where customers are. To be with social media also means that that company is moving forward and embracing modernisation. Those companies that refuse to join the revolution will be left behind.
When somebody on Facebook "like" a business, it is spread to all those who are friends with that person as such the company will thus be spread around, sometimes or more often globally. The likelihood is increasing that friends would start to look for a brand or product if another friend is seen to have “liked” it by pressing the "like" button. This makes it attractive for companies get into it.
Newly established Swedish company FBlikes.se guarantee 500 "like", for Skr 590 plus VAT. 25 000 Facebook Fans will cost Skr9000 plus VAT.
Well, large companies like H & M would not need that for they have their own in house technology that has given them millions of fans. They are already well established on Facebook with over 10 million "likes." Therefore, fashionist seeking the best low cost fashion is watching for the next image of a new dress to be liked and spread to their hundreds of Facebook fanks.
For the less well-known companies in Sweden or the small businesses they are those that would be interested in buying these links or likes.
Some authorities are worried though that these types of services would tend to fill up accounts with spammers and other people trying to do the same thing: build their following.
Critics say a better way is to understand your audience and publish valuable information that is consistently ‘on topic’. The tendency, surely is that fans/followers would be built more slowly, but at least these companies will end up with an audience that is relevant and therefore more likely to be engaged with their content.
Another problem for buying the like is lack of good knowledge in website optimisation or how to use the various face book apps. Another is also is language - although the Swedish people can understand English, which is the business and technology language, it is still a foreign language to them and it is sometime hard to understand all the jargons.
By Scancomark.se Team
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