It is frustrating having to justify the value of engaging with customers through the use of Social Media.
The most important part of a business are it’s customers, therefore surely anything that enables you to interact with them more effectively, adds value?
Twitter is one platform that often comes under fire from those forever pushing to have the ROI of Social Media demonstrated to them.
See You In Court
But take that Twitter account away, and some companies will go to court to get it back. As Noah Kravitz found when he tried to take his Twitter account with him when he left former employer Phonedog. Noah changed the name of the account from @Phonedog_Noah Twitter account to NoahKravitz on leaving keeping all of the followers.
Many of you reading this will understand the value of Twitter, but how many of you are getting paid $2.50 per follower per month you acquire?
Well maybe there is value in this Twitter thing after all, because that is exactly what Phonedog are saying the former @Phonedog_Noah Twitter account, which is now private, is worth.
With 17,000 followers, this makes this particular Twitter account worth $42,500 per month.
Social Media Policy
Phonedog refer to the followers as a “customer list”, and the value, they say, is based on the costs associated with growing and maintaining the list. Many companies, and employees, will look on as this is debated in the courts. In the US it may set a precedent over Social Media account ownership.
Elsewhere, it is definitely worth companies revising company policy on Social Media usage and defining what is and what isn’t company property when it comes to, not just Social Media accounts, but other online assets too.
What are your Twitter followers worth to you?