I have recently been asked the difference between Like and Follow Pages on Facebook and it is a very good question.
Due to people these days networking more than ever before on Facebook, most prescribers of it are Liking more business pages than previously seen.
There are several reasons for this and it could be plainly reciprocal, strategic or at times necessary for the smooth running of your business.
By Liking (endorsing) so many pages however, it can clog up your news feed quite a bit and the pages you really need to follow will be pushed down the page further and further each time you like more pages.
Interesting point to know: You only affect a persons “Like Count” when you Like their page as a personal page not as a business page
To This End Facebook Created The Follow button!
When you Follow a person/page, their posts will show in your newsfeed.
The upside is you can filter what/who shows up in your news feed, please check the link below (hide a person/page from your newsfeed). Controlling what you see in your newsfeed
The Get Notifications button (How to get Facebook notifications) means you will be updated every time that person/page makes an update ie, posts, milestones and cover photos. You can also filter these too, with this link.
Though these get-outs are there, there is an easier way of checking you are getting what you want out of your news feed and that is by going back to it regularly and interacting with their page and posts.
As you can see, you can make an impact on your own news feed without any fiddly changes to your settings but it will require a level of commitment on your part to make time to check your favourite pages and comment, etc.