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The Like Economy: How Businesses Make Money With Facebook [Paperback]

Brian Carter

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Table of Contents

1 The Like Effect: The Power of Positive Marketing . . . . . . . . . . . . . 1

Likes Decrease Costs and Increase Profits . . . . . . . . . . . . . . . . . . . . . .2

Likes Increase Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2

Likes Give You Control of the Customer Conversation . . . . . . . .3

Likes Prove People Are Paying Attention . . . . . . . . . . . . . . . . . . . . . . .3

Likes Solidify Loyalty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4

Likes Create Evangelistic Customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5

There’s No Dislike Button . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5

Can You Do Fear-Based Marketing on Facebook? . . . . . . . . . . . . .6

Google and Wikipedia “Like” the Like Button . . . . . . . . . . . . . . . . . .6

Facebook Is About Passions and Interests . . . . . . . . . . . . . . . . . . . . . . .7

How Often Do Facebookers Like Things? . . . . . . . . . . . . . . . . . . . . . . .8

Facebook Users Are More Trusting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9

Facebook Groups: Off-the-Charts Positivity . . . . . . . . . . . . . . . . . . . .9

Facebook Page Brag Boards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10

Easy Testimonials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10

I Just Posted to Say “I Love You” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10

Emotions on Facebook Are Contagious . . . . . . . . . . . . . . . . . . . . . . .11

Gross National Happiness . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11

 

2 You Can’t Tell a Facebook by Its Cover: The Case for

Facebook Marketing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

Why Facebook Marketing Is So Important . . . . . . . . . . . . . . . . . . . .14

Facebook Is the Biggest Thing Since Google and

Might Be Bigger Than Google . . . . . . . . . . . . . . . . . . . . . . . . . . .14

The Facebook Ad Platform Is the Most Powerful

Marketing Tool in History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16

Google Dooms You to Price Wars, Whereas Facebook

Creates Loyalty and Increases Your Value . . . . . . . . . . . . . .16

Facebook Fans Are the New Email Subscribers . . . . . . . . . . . .17

Facebook Is Heir to the Browsing Empire Yahoo! Lost . . .17

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Myths and Misconceptions About Facebook for Business . . . .18

Social Media Users Don’t Buy Products . . . . . . . . . . . . . . . . . . . .19

Social Media Users Don’t Buy Soon Enough and the

Sales Cycle Is Too Long . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22

Twitter Is the Only Social Media Channel Worth Using . .23

Facebook Is Just for Kids . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .27

People Don’t Click On Ads . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29

Who Harbors These Misconceptions and Why? . . . . . . . . . .29

Some Businesses Profit on Facebook, and Some Don’t . . . . . . .30

Common Mistakes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .30

Success Stories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31

Here’s What Facebook Marketing Successes and

Failures Do Differently . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .32

Facebook’s Strengths: Advantages for Your Business . . . . . . . . . .32

 

3 FaceFirst: How Facebook Fits In to Your Business and

Other Marketing Efforts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33

How Is Social Media Supposedly Changing Business? . . . . . . . .34

Conversation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34

Transparency, Honesty, and Trust . . . . . . . . . . . . . . . . . . . . . . . . . .35

Availability and Responsiveness . . . . . . . . . . . . . . . . . . . . . . . . . . . .36

Marketing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .37

Evaluating Social Media Experts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .38

What Businesses That Profit from Facebook Do . . . . . . . . . . . . . .38

Can Facebook Change Your Business? . . . . . . . . . . . . . . . . . . . . .38

How Can Facebook Fit In to Businesses in

Different Ways? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .39

How Do You Synch Up Your Other Marketing Efforts

with Your Facebook Campaigns? . . . . . . . . . . . . . . . . . . . . . . . . . . .39

Facebook + Print, Web, and Email . . . . . . . . . . . . . . . . . . . . . . . . .40

Facebook + Google Marketing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .40

Facebook + PR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .41

Facebook + Email Marketing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .41

Facebook + TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .42

Facebook + Radio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .43

 

4 FaceBucks: Five Ways Businesses Achieve Profits

with Facebook . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45

How Facebook Advertising Helps All Five Revenue Models . . .46

Reaching Potential Buyers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46

Positive Alignment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .47

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