Reputation & likes are an important part of communities across the internet, and your IPS Community Suite gives you the tools to set these up in a way which is good for your own community.
If you visit Members>Member settings>Reputation you will be presented with a screen similar to the screenshot below.
From here you can set up the way in which you would like reputation on your site to work, whether this is with likes, reputation, positive or negative, along with setting up permissions and what to do with them.
On the reputation levels tab which you can see below, you will see levels that can be gained upon reaching a set number of reputation points or likes on your site. These can be given a reputation name and optionally an image.
Clicking on "Create new" will give you the opportunity to add a new reputation level. The one I have created below as an example will give people the superstar reputation level with a star image upon hitting 1000 reputation points.
Note: Within each member group, you can also set whether that group can see who has given reputation and the amount of reputation they can give in any one day.
By visiting Members>Member Settings>Profiles and then selecting the Profile Settings tab (profile fields are discussed in another guide here), there are a few other settings which you can set up to your own preference such as allowing the use of Gravatars, Signature, and Statuses.