How Much Is My #hashtag Worth?
Let’s calculate and know the economic value behind it
Do you know that you’re worthy of some cents, dollars, or even millions?
Do you know that your tweets/hashtags worth that could drive people in?
Do you know about your market and engagement value?
If your answer is no, then yes, let me explain to the math behind it. It would astound you at the end.
Tweet out in order to be heard!
Every single account on the social media platform has some credit to the brand or the individual, which increases with the engagement they put in.
We can very much witness the millionaires emerging as digital media marketers, influencers, and celebrities.
When each platform has its own way of involving people, one does something extra by tweeting a magic spell on the so-called #hashtag.
Twitter is a platform that lets users stay on top of trending topics and engage in relevant conversations using their tweets.
To give everyone the power to create, share ideas and information instantly, without barriers — Mission of Twitter
With over 199 million daily active users and 500 million tweets are released per day on Twitter. Despite its fewer users compared to other media like Instagram or Facebook, this does a lot of inside work that many miss out!
Fact: Everything on twitter has a translation in money
- When you want to launch a hashtag in the market which gets more traction, ever thought of how much would it be worth in the advertising market?
- Would you want to be paid for the hashtag you put for the brand?
Though big tech companies and brands are going for Twitter ads to advertise their hashtags, it is inorganically not feasible at all times.
“your tweets have value and the hashtags you participate in, have value”
2 Types of values to be considered
- Market value — what the market would pay you.
- Engagement value — what the market would pay you for taking the engagement of your account.
Market value
The value is segregated into 2 for market value.
The economic market value of the user and the hashtag. Both are interdependent with each other.
The market value of the user is calculated based on the following factors:
- Number of followers
- Number of following
- Ratio followers/following
- Number of lists the user is in
- If the account — verified or not
- Average Twitter impressions per tweet (given by Twitter)
- The economic market value of an impact on Twitter(pay-per-tweet and CPMs on Twitter ads)
Engagement Value
The engagement of a tweet relies on the no: of retweets and likes it gets.
Therefore, can analyze the difference between the users on an engagement basis. This is like the “economic market value” but includes the activity of the tweet.
Calculated based on factors:
- Retweets and likes per follower
- If it exceeds/minimizes, then the expected value
Example: @Kimkardahsian vs @elonmusk
Let’s compare the 2 top Twitter accounts in the engagement category.
The difference between the market value (which only has in consideration quantitative variables) and the engagement value.
These two accounts are @kimkardashian and @elonmusk
First, we will analyze the “market value”
The market value of Kim is $111,433 whereas the engagement value of $91,857.
The market value of Elon musk is $94,525 and the engagement value is $81,200.
We can very much conclude of who leads on both market and engagement value. It’s not wholly on the no: of followers but about how well they engage with an audience around twitter with their businesses.
The engagement value of Kim Kardashian is higher than the value of Elon musk, which clearly shows us that her tweets had been highly retweeted and liked than the others irrespective of background.
The engagement economic value from a Twitter user is a revolutionary metric. The final value will be the actual price. One company should pay that users to send a tweet using its campaign’s hashtag. It is perfectly normal to have the engagement value lower than the market value. If that’s your case, work on your content because you are not getting as much engagement as expected.
The economic market value of a #?
When people use the hashtag of a company’s campaign, they are creating impacts for a brand that has an economic value on the market.
As discussed before, #ALSIcebucketChallenge collected over $41.8 million in 2 months cause of mass tweet-reach. This was made possible by people around who have added value to the hashtag, whilst the increasing economic value of a #hashtag.
“How much money that hashtag would be in the market?”
For that, we have to calculate them based on three things.
First step: Economic value of the user in the market
The authenticity and virality of an individual differ from one.
we can calculate by these factors:
- Number of following
- Ratio followers/following
- Number of lists the user is in
- If the account is verified or not
- Average impressions per tweet (given by Twitter)
- The economic value of a Twitter impact (pay-per-tweet of online platforms and CPMs by Twitter Ads)
Second step: Economic value of a tweet
Though the value of the user is accountable, the tweet has several streams of value in it.
Let’s take these values as an example:
- Reply: the value of the user (x 0.2)
- Tweet with media: the value of the user (x 1.2)
- Tweet with link: the value of the user (x 1.1)
- Retweet: the value of the user (x 0.5)
Final step: Total market value of the campaign
To get the overall worth of a hashtag is to add up all values obtained from the user and tweet. The outcome result is what we would have needed to pay our users to get that number of impacts according to the market prices.
The market economic value of a hashtag or campaign on Twitter is going to become one of the most influential metrics for marketers and agencies.
This is how our users are to be paid according to the market value to get the impact on a hashtag.
The three steps to calculating the value of the hashtag are:
- Calculate the economic influence of users (Followers, verified status, etc..)
- Calculate the economic value of each tweet (Retweets, Likes, replies, etc..)
- Sum all the economic values of each tweet (++)
How do we calculate the economic market value of a tweet?
Let’s see the economic market value of a tweet with an example. We will analyze the Twitter account @web3foundation, which has an economic value today of $154.94.
Note: The value is what that type of tweet sent by that specific user at that moment is worth, taking as reference pay-per-tweet platforms and the average cost of an impact on Twitter Ads and others.
This value will change if any variable changes: followers, following, lists, etc.
- Text tweet: value of the user (x 1) = $154.94
- Reply: value of the user (x 0.2) = $30.98
- Tweet with media/link: value of the user (x 1.2) = $185.92
- Retweet: value of the user (x 0.5) = $77.47
Calculating the economic market value of a tweet is just part of calculating the economic market value of a hashtag.
Data took to calculate the economic value of a hashtag
The economic value is created by considering several criteria. It comprises two values: the value of the user and the value of their tweets.
Two are unique to each other and proportional.
First, we calculate the influence of each Twitter user who tweeted with your hashtag. This influence will give us an economic market value of the tweets of that user. It can be $2 or $2,000 per user. This is a generic value that shows how much a regular tweet of that user will cost. Once we have the economic market value of the user’s tweets, we see how many tweets he sent using the brand's hashtag and we will give them an economic value.
This economic value of one tweet will vary depending on the type of tweet the user sent: text tweet, tweet with a link, with the image as mentioned earlier. Once we have the value of each type of tweet, sum them all and calculate the market value of a hashtag. To do that, sum all the tweets' values. This way, we will know how much the hashtag is worth.
Conclusion — #InvestInHashtag
If the marketers and agencies target influencers to launch a hashtag, they can create an impact like anything. The same applies to social movement, advertisement, and so on. In the line of investing in ads, tweets and hashtags will be the next massive turning profit.
Visit this link to know the tentative value of accounts and # in Twitter.
“Start your brand with a hashtag to see it revolutionize”
