Determining the ROI of your social media efforts remains a constant struggle, despite the launch last month of some new social media reports on Google Analytics that make it easier to assign financial value to social media effort.
Data company Backupify has attempted to take a data management approach to things and has put together an infographic revealing the value of a tweet vs a Yelp review (amongst other things).
“We want to get people to think about the value of the content they are creating,” Backupify CEO and co-founder Rob May said, “and how much it is worth to them.”
“If you’re a social network, you want to think about the types of content your users can create,” Mr. May said. “Photos are pretty valuable compared to other types of content. While text is much less valuable.”
According to the study the average Facebook user is worth $118.34 due to the vast range of ways each user can add content to the site. LinkedIn comes next, which is not surprising given the richness of the content produced by the professionals on the site.
Interestingly, whilst each Twitter user is quite valuable, each individual tweet is practically worthless, being valued at 0.001 cents each.
“One tweet doesn’t create a lot of value for the other people on Twitter because the things in my Twitter stream are not things that I’m acting on in general,” Mr. May said. “Most tweets are pay-me-to-read-them, right? They’re not that interesting.”
So perhaps not surprisingly, the value from each piece of content comes from the amount of time and effort that went into creating it. Multiply this by the amount of content created and you get the value of each member to a social network. Anyway, here's the infographic for you.