How much is your social data worth?
A report from howmuch.net in 2015 put a consumer’s personal value to LinkedIn at $69 and Google at $182.
In 2017 this is likely to be much higher – so where is my cheque??
Consumers today aren’t really in a position to understand the value that these companies extract from our own personal data, buying and browsing habits, and our increasing connectedness and strong online networks.
Already savvy consumers have started to become “micro-influencers” and learned that brands will pay them hundreds of dollars for doing pretty much nothing except posting a picture of a product on Instagram.
The rise of the “insta-influencer” tells me that brands are prepared to play the game of “name your price”. For the rest of us, I don’t think this is too far away.
I think there will be a time when I am able to nominate which companies I want to have a relationship with, and then have them bid (like companies bid for google keywords) to allow access to me and my preferences.
Only in this fair value exchange is my worth realised to the brand in question. What price would you ask for direct access to you with information (not advertising) that was relevant and timely?
It’s time to cash in the value of your place in the network.