If you keep on top of your social media news, you may remember the case of Noah Kravitz, an employee of mobile phone reviews site PhoneDog, who was accused of stealing the firm’s 17,000 followers on social media platform Twitter.
Kravitz, one of the founders of the company, had built up the account from 0 followers – and when he left, he took the account’s following with him, changing the handle from @PhoneDog_Noah to @NoahKravitz. Staff who remained at the business retaliated with legal action, seeking compensation of $2.50 for every follower that Kravitz took with him. The lawsuit has now been settled, but the story does raise an interesting question about how much a Twitter follower is worth to a business.
In terms of monetary value, it is impossible to calculate a specific figure that accurately reflects the worth of each individual user. Even industry estimates vary wildly – an infographic from PCMag suggests $2, whilst Neil Gaiman says 8 cents, for example.
What we do know is that Twitter is a valuable digital marketing tool, and the more followers you have, the more likely you are to find individuals who will engage with your brand. From a business perspective, the focus should be on creating compelling content that will attract a wide range of followers, enabling you to maximise potential sales without worrying about the cost per head.
Do you have a conceptual value for each of your Twitter followers?