How Much is a Tweet or a Like Worth to You?

Your New Media Presence

How Much is a Tweet or a Like Worth to You?

ChompOn has released some interesting findings (pdf) related to social
media sharing and its value to e-commerce. Specifically, the firm
sought out to answer the question: "What is the value of a social
action in online commerce?"



What they came up with is that a Facebook Share was worth $14, a
Facebook "like" was worth $8, a tweet was worth $5, and a Twitter
follow was worth $2.



"Admittedly, we believe the true value for likes and follows to be
much higher due to creation of long-term loyalty," says ChompOn.
"Additionally, it is not possible to directly attribute traffic from
these actions so it was necessary to estimate.







Obviously, you have to take into account their methodology, which is
where that estimation factor comes in.



"For shares and tweets, we were able to directly attribute sales to
the original action, so we simply took the total revenue attributed to
each action and divided it by the total number of shares/tweets," the
firm says. "For likes and follows, we had to estimate attribution by
looking at our traffic references and subtracting out purchases made
through shares/tweets as well as purchases made through direct traffic."



ChompOn is also careful to point out that gross revenue depends on the
products and services being offered.



In reality, you may find a greater dollar value in all of these social
interactions, or you may find now dollar value at all. There are a lot
of potential variables to consider, but if nothing else, it shows that
you can indeed place a dollar value on a tweet, on a "like", etc.



That's really the moral of the story. Many complaints have been voiced
about a lack of measurable ROI when it comes to social media. If you
have this complaint, it may be time to re-evaluate your measuring
strategies.





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