Likes and favorites are certainly great forms of engagement. They show that your audience is interested and appreciates whatever it is that you’re sharing.
However, liking a post is very different than clicking a link.
Certainly, the more likes you get, the more likely it is that people will consume your content, become fans and hopefully customers.
However, ultimately, the “like” is a weak form of engagement.
The 3 Strongest Forms of Engagement by Jade Furubayashi