What is the market value of a hashtag?
Any Twitter campaign, no matter how small is, has a measurable economic value. So do the marketing plans and some KPIs from every strategy. When users tweet with a hashtag, they generate impacts for your company, brand or business. The value given to the content on the market varies depending on certain aspects. That’s why today there are many online platforms that pay users to tweet about specific topics.
Twitter also offers the option to advertise a brand or campaign if we pay for it. In order to give a market value to our hashtag. Partly based on that, in Tweet Binder we have developed a some new Twitter metrics. Read on and find out more about one of the most interesting: the market value of a hashtag.
How is the market value of a hashtag calculated?
The truth is that there is no universal algorithm. That’s why we’ve created one of our own to calculate this Twitter metric. Sounds great, doesn’t it? Our team took time behind this data and have worked hard to create this algorithm. Thanks to it we can know how many dollars it would have been necessary to spend to get the impact that the campaign has naturally achieved.
This way we distinguish the tweets shared and we give an economic value to each one of them. The economic value of the tweets will vary according to the type of tweet that the user sends: tweet, tweet with link, retweet, etc. Once we have the value of each type of tweet, we add them all and calculate the total economic value of the hashtag.
In the blog you can find more post that are related to the economic value of a hashtag. In them we explain in depth how we calculate each of the figures that we enter in the algorithm. So you can perfectly understand how it works. We explain how to calculate the economic value of the market of the users and the economic value of the market of the tweets.
What can I get from this new Twitter metric?
As we have already said the economic value of a hashtag is translated into the value given to it, in the market, to the content. This is not an exact value but really accurate. Taking this into consideration, what data does this economic value offer us? Through the new rankings we can capture, in a single glance, those people whose tweets have a higher value. These ambassadors are people who represent a brand to make it known, create sales opportunities, create a specific image or increase consumer preference towards it. Our rankings will make this work easier, showing us who have published quality content mentioning our brand. This will be of great help to us if, for example, we seek ambassadors for our brand. Therefore, contact with these users can be a great opportunity to generate or improve our image as a brand and to increase sales.
If you have any comment or you want to get to know better any detail about the economic value of a Twitter hashtag, do not hesitate to contact us!