Industry NewsMarketing

What’s your social network really worth?

Extend your reach by knowing and growing network value
Published on Feb 27, 2013 | Updated on Apr 23, 2013

For an internal project I'm working on, I've spent the last week calculating my reach and the value of my network. This is something I've done many times for clients, as a way to discover if various aspects of social marketing are "working" or not. It's not a "one metric to rule them all" sort of thing though, and should be taken in context with qualitative gains. But it is a worthwhile exercise to perform now and then -- taking a snapshot of what your social network is really like. It isn't terribly painful but it does require a bit of thinking. Here are some some step-by-step instructions. Establish what you mean by "worth" or "value." Many marketers will wimp out at this point and attempt to deflect responsibility by saying inane and unhelpful things like, "What's the value of your mother?" Don't wimp out here though. If you want to wimp out, wimp out later. There are so many great ways to establish "worth" and "v...