I just ran across this and figured the sharks down here would want to feed on some of this:
The Truth about FaceBook’s Secret Saucce.
It explains what this EdgeRank is, and where SEO people are going wrong with it, and explains the formula a bit (not a secret).
That’s a pretty interesting read. I know our web department at work likes to do some stuff through Facebook (though it is in a good balance ;)). I’ll forward this along to him.
It’s almost kind of a “duh” thing once you’ve read it, but you don’t really think about it until you read it. You’re better rated if you have more friends liking and commenting on your stuff. =p
I like his tip at the end too: “EdgeRank is definitely important but your Facebook strategy should focus on engaging your fans.”
It’s the same with PR and the like. Yes, it’s important, but it’s more important to build your site for your guests, not the search engines.