There are many discussions online about the challenges of measuring the value of social media followers and many caveats from those that are brave enough to put a number on this. In my earlier blog Scottish University league table of social media I tried to measure the reach of Scottish University social media. But I’m sure to many the next logical question is: so what is it worth?
To ascertain that properly I would need to take the time to understand what each university is trying to achieve. As that is not possible at the moment, I’m going to estimate based on analysis done by others. And I’ve restricted the calculation to Facebook, Twitter and LinkedIn.
So for Facebook, I’m basing my valuation approach on Retail Digital – the value of likes, fans and followers which suggests$3.60 or £2.35. That puts the value of the Scottish University Facebook fan base at £438k based on followers of 187k.
And according to Twitter (via PC mag) at Twitter follower is worth $2.5 or £1.63 putting the Twittersphere value at £165k for just over 100k of followers. And although I could find some discussion about the value of a LinkedIn follower there appear to have been no attempts to place a value on this.
In total, the value of Scottish Universities’ social media followers (in this limited study) is £603k.