The "Like" button is good for business

According to a recent study of 100 top retailers by UK-based Hitwise Intelligence, it was determined that one Facebook fan on a company's page is the equivalent of 20 visits to its website, Search Engine Land reports.

In addition, the analysis revealed that brands utilizing Facebook saw their searches on larger search engines such as Google, Yahoo and Bing increase from anywhere between 19 and 54 percent.

In a separate article the news source reports that Facebook "likes" also play a significant role in increasing visibility on local search as well as overall traffic.

The media outlet, which used figures reported by the social media platform, found, on average, a site that's integrated with Facebook sees a 300 percent increase in referral traffic.

For example, business-specific figures showed that, Facebook-referred visitors to clothing brand American Eagle's website spent an average of 57 percent more money than those who were not. AE incorporated the social media site by placing a "like" button next to each of their products, which coaxed visitors to its page.