HBR: What’s the Value of a Like?

Harvard Business Review: What’s the Value of a Like? . ” It’s possible that getting people to follow a brand on social media makes them buy more. But it’s also possible that those who already have positive feelings toward a brand are more likely to follow it in the first place, and that’s why they spend more than nonfollowers. In 23 experiments conducted over the past four years and involving more than 18,000 people, we used an A/B testing method to explore a crucial counterfactual: what followers would have done had they not followed a brand. Given the millions of dollars in marketing budgets that flow to social media at many companies, the distinction is not trivial. It has enormous implications for marketers’ resource allocations and for how they manage their brands’ social media presence.”