Know the Worth of Your Social Media
Learn about some tools to appraise the worth of your social media.
Social media accounts have become more than just spaces for sharing personal updates or connecting with friends and family—they are now powerful tools for creating, curating, and generating value. Whether you’re a hobbyist sharing gardening tips, an artist showcasing your portfolio, or a business promoting products, your social media account may hold untapped financial potential.
As platforms like Instagram, YouTube, TikTok, and Facebook have evolved (or devolved), so too has the concept of digital ownership. Accounts with a sizable following, consistent engagement, or valuable content can become lucrative assets. They serve as modern storefronts, marketing tools, or even income streams through advertising, sponsorships, and affiliate marketing.
But when does a social media account move from being a personal hobby to a valuable asset? How can you determine whether your account is worth money, and is it something you could sell? More importantly, what happens to your account if life takes an unexpected turn, such as illness or death? Understanding these questions is vital for anyone navigating the digital world, whether you’re a casual user or a full-time creator.
This lists below delve into the financial potential of social media accounts, how to assess their value, and the practical and legal considerations around ownership, sale, and succession. Whether you have a small but dedicated audience or a large and thriving community, your social media account could be an asset worth protecting.
When Are Social Media Accounts Worth Money?
Follower Count and Engagement: Accounts with large, active audiences are often valuable. Even if you don’t choose to build community, large audiences attract affiliates, which attracts money.
Niche or Industry Focus: Specialized accounts in profitable niches (e.g., fitness, fashion, or finance) tend to attract buyers. Relationship information or advice has always been a hot topic as well. But, you can always find a niche that will enjoy your specialized information. People in relationships can definitely be into gardening or poetry as well.
Content Quality: Accounts with professional photos, videos, or well-written posts can command a higher price. Spend time making sure your grammar and spelling are fit for consumption. That said, people love to find mistakes. I’m not encouraging errors, just opening a door to new perspectives.
Revenue Generation: Accounts that earn through ads, sponsored posts, or affiliate links can be monetarily assessed. Don’t expect monetary assessment in your first year of development.
Can Social Media Accounts Be Sold?
Yes, But with Caveats: Certain platforms have rules against transferring ownership, so it depends on the terms of service. Even if you check the TOS before you begin building an asset, those TOS documents can change on a whim. Stay up to date.
How Sales Work: Platforms like Fameswap (Note: I have not used Fameswap, and I am not an affiliate) or private deals between individuals. Let me know in the comments if you’d like to learn about more sales platforms.
Risks: Potential scams, loss of access, or platform bans. For real.
What Happens If the Creator Becomes Ill or Dies?
Account Succession: Set up a digital will or designate a successor (Note: I have not used Digital Will, and I am not an affiliate).
Platform Policies: Most platforms have procedures for memorializing or transferring accounts (e.g., Facebook Legacy Contact). Please read my previous newsletter to learn more about some of these tools.
Legal Considerations: Include the account in estate planning as part of digital assets.
Tools to Evaluate the Worth of Your Social Media
The following tools offer varied metrics to valuate your social media. Note: I have not yet used any of these tools, and I am not an affiliate. If that status changes, I’ll let you know.
1. Noxinfluencer
Purpose: Provides detailed analytics for YouTube, Instagram, TikTok, and more.
Features:
Channel valuation and revenue estimation.
Audience demographics and engagement metrics.
Influencer rankings by niche or region.
Use: Ideal for creators and brands looking to understand account performance or compare it to others.
2. HypeAuditor
Purpose: Focused on Instagram, YouTube, TikTok, and Twitch analytics for influencer marketing.
Features:
Audience quality score to detect fake followers.
Engagement rate benchmarks for niche and industry.
Tools to discover influencers and track their performance.
Use: A must-have for those in influencer marketing or interested in account valuation.
3. Social Blade
Purpose: A popular analytics platform for YouTube, Instagram, Twitter, and Twitch.
Features:
Historical growth tracking for followers and engagement.
Estimated earnings and channel rankings.
Daily and monthly performance insights.
Use: Great for quick, comprehensive stats and monetization potential.
4. Social Bluebook
Purpose: Specializes in providing monetary value estimates for influencer accounts.
Features:
Valuation calculator based on engagement rates and follower count.
Pricing guidance for sponsored posts.
Tools for negotiating brand deals.
Use: Ideal for creators pricing their content for sponsorships.
5. Inflact
Purpose: A multi-purpose tool for Instagram growth and analytics.
Features:
Instagram profile valuation tools.
Audience behavior insights.
Tracking follower growth and content performance.
Use: Especially helpful for Instagram-focused creators or businesses.
6. Influencer Marketing Hub
Purpose: Offers a range of calculators and tools for social media monetization.
Features:
Instagram Money Calculator for post valuations.
TikTok Earnings Calculator based on views and engagement.
Guides for growing and monetizing accounts.
Use: A versatile resource for creators on various platforms.
7. TubeBuddy
Purpose: A YouTube optimization and analytics tool.
Features:
Channel growth metrics and performance reports.
SEO suggestions for better visibility.
Estimated revenue based on views and ad performance.
Use: Perfect for YouTube creators aiming to maximize their channel’s potential.
8. Crowdfire
Purpose: Focuses on managing and analyzing social media performance across multiple platforms.
Features:
Follower insights and audience analysis.
Engagement tracking and content scheduling.
Customizable reports for business accounts.
Use: Great for small business owners or content managers.
9. NinjaOutreach
Purpose: A database and analytics platform for influencer discovery and outreach.
Features:
Social media profile analysis with metrics like reach and engagement.
Tools for identifying and contacting influencers.
ROI tracking for influencer campaigns.
Use: Excellent for brands looking to partner with social media influencers.
10. Phlanx
Purpose: A social media marketing tool with an emphasis on engagement metrics.
Features:
Engagement rate calculator for Instagram, Facebook, and YouTube.
Tools to audit account authenticity.
Collaboration marketplace for brands and influencers.
Use: Ideal for evaluating partnership opportunities and content value.
Below you will find a short list of ways to valuate your newsletters, like the one you produce at Substack.
While many social media analytics tools focus on platforms like Instagram, YouTube, and TikTok, there are specialized tools designed to analyze and enhance newsletter performance, including platforms like Substack. Here are some options to consider:
1. GlueLetter
Purpose: An analytics tool specifically designed for newsletter publishers focusing on content and conversions.
Features:
Provides insights into reader engagement and behavior.
Helps optimize content strategy based on analytics.
Use: Ideal for publishers seeking to understand and improve how readers interact with their newsletters.
2. Google Analytics Integration
Purpose: While Substack offers basic analytics, integrating Google Analytics can provide deeper insights into how readers interact with your newsletter online. The link leads to instructions on how to integrate Google Analytics into Substack.
Features:
Tracks user behavior on your Substack-hosted pages.
Offers detailed metrics on page views, session duration, and more.
Use: For Substack users looking to gain comprehensive data on reader engagement by integrating Google Analytics into their newsletters.
3. Mailchimp's Marketing Analytics Platform
Purpose: Provides detailed analytics for email campaigns, helping users understand the success of their marketing efforts.
Features:
Offers insights into open rates, click-through rates, and subscriber behavior.
Allows for segmentation and targeted campaigns based on analytics.
Use: Suitable for users who manage their newsletters through Mailchimp and seek in-depth analytics to refine their strategies.
4. Omnisend
Purpose: An email marketing platform that offers comprehensive analytics, particularly beneficial for eCommerce email marketing.
Features:
Provides a dashboard view of email campaign metrics.
Includes tools for automation and audience segmentation.
Use: Best for users looking for detailed analytics to support eCommerce-related newsletters.
By utilizing these tools, you can gain valuable insights into your newsletter's performance, allowing you to tailor your content and strategies to better engage your audience. That’s one great way to increase the value of your newsletter.
In Conclusion…
In today’s digital age, social media accounts are no longer just personal outlets for self-expression—they can be valuable assets with real-world implications. Whether you’re a casual user or a dedicated content creator, recognizing the potential worth of your account is the first step to protecting and maximizing its value—and sometimes it’s an incentive to create a better asset!
Understanding the factors that make an account valuable—such as engagement, niche focus, and content quality—can help you make informed decisions about your social media presence. Tools like Social Blade, HypeAuditor, and Influencer Marketing Hub provide a solid starting point for assessing your account’s worth and benchmarking its performance.
If you’re considering selling your account or passing it on to someone else, be sure to familiarize yourself with platform policies and legal considerations. These steps are especially important in estate planning to ensure your digital legacy is managed according to your wishes. Be sure to change your legal site documents (such as terms of service, disclaimer, etc.) to reflect your policy about selling your assets and to maintain a sense of transparency with your audiences.
Ultimately, the value of a social media account goes beyond dollars and cents. It represents the time, effort, and creativity you’ve invested in building a community and sharing your voice. By treating it as an asset, you can safeguard its potential while continuing to use it as a tool for connection and expression. Good luck!
Photo By Kaboompics.com at Pexels.