As a company owner, you know that your social media activities contribute to many of the brand’s business objectives. However, in order to allocate larger budgets to larger-scale social marketing strategies, you need to know clearly, or at least have a similar knowledge, what return you can expect from this investment.
What is ROI?
ROI literally means ‘return on investment’. When we hear that, we immediately think it’s about money. Of course, they are also taken into account as a result of a successful advertising campaign, but not only. It can also be a strengthening of brand awareness or an increase in customer satisfaction. In general, the return on investment in social media is the sum of all social media activities that create a specific and positive value for the brand.
55% of social marketers mention measuring ROI as their biggest challenge.
The times when social media marketing campaigns were only experiments are long gone, and directors in corporations were afraid of the effects of such promotions. Nowadays, social media is the basis of most business strategies, but the process of deep data analysis, which is necessary in this case, requires many resources. Measuring and tracking Return on Investment (ROI) not only proves the impact of social media on your business, but also allows the team responsible for marketing and advertising to precisely combine the tactics that provide new coverage and the greatest value to your business.
Why measure the ROI?
When you look at the statistics, you will see that many companies find it difficult to understand the financial impact of social marketing on their business performance. In a survey by The State of Social Marketing, 60% of companies said that demonstrating ROI from social media activities was their biggest challenge. However, social media marketing has a 100% higher sales ratio than traditional outbound marketing. In addition, 31% of the 3,419 billion Internet users worldwide are actively using social media. This means that there is great potential for using social media marketing campaigns if you are able to find out how to optimize the return.
Measuring ROI in social media is important for many reasons, including but not limited to:
- Can change the perception of the community in your organization
- Shows the potential impact the community can have across the company (not just marketing)
- Shows where your efforts and resources are used most effectively
- When your efforts do not have the desired effect, you can change your tactics and strategy if necessary
- Helps to better understand your audience (what they care about, what they react to, etc. )
Trust as a foundation
First of all, you must build trust in your own organization. Facebook, Twitter, Instagram, LinkedIn, YouTube and their “liking system” are extremely valuable social tools. They allow consumers to finally see the potential of your brand, and that should make consumers trust you and use your services more often. When you provide high-quality, consistent, valuable and unique content, such as videos, articles and a variety of industry trivia, your audience will be sure to be interested and expect more. You can also build loyalty with transparency. For example, if a customer complains about the journey they have made with your brand, take the time to listen to them and give the necessary answers, giving the reasons for the problems. Don’t be afraid to apologize to consumers either. Another valuable technique is to avoid overt advertising. Instead, provide users with useful, valuable and original content, without forcibly promoting the essence of your business.
All this will make people see you as an authority in your industry, which will increase the likelihood that they will come to you when they want to buy the product or service you offer. You’ll always be ahead of the competition.
Increase traffic in social media
Social media platforms have a wide reach, enabling you to influence audiences you could not otherwise reach. With an active presence in social media, you can direct this traffic to your official website, blog, landing page or other desired destinations.
However, the very creation of accounts and publication of information will have little impact on dynamics. You need a strategy. This requires you to determine exactly when it is best to publish your posts and what type of content your recipients prefer. Just because you can use the same content on different platforms does not mean that it will achieve its goals. You have to optimize it. Remember that you also have to monitor the activity of your competitors to be always in front of him. This is where media monitoring comes for example Newspoint platform.
Increased social media traffic occurs when you engage and build relationships in all possible channels. Being always available to customers and potential buyers, it will help you to build trust and show that on the other side also sits a man, not software, created to respond to different problems with the same schemes.
Each network and social media platform is different, but in order to increase traffic and activity in them, you must follow certain rules for all social channels. Remember that your content says a lot about your brand, so make sure your blog posts, case studies or infographics go beyond what everyone around you already knows. This is extremely important in order to increase the aspect of social sharing.
Turn up SEO
Social media pages are indexed by Google. Your presence on social media platforms informs Google that you are a reliable source of information and that you offer your audience more value than just a website. This could potentially increase the position of your pages in search results.
To further improve SEO, work on increasing the number of observers. Never buy watchers (Google also evaluates their quality to determine their ranking position), but create valuable content that is more likely to be shared. Then, optimize your posts for search engine requirements. This requires the use of a catchy title and the inclusion of important keywords in the character description.
Google checks visit times and rejection rates when sorting rankings, because high rates usually indicate that the site has a poor impression of the site – it is unreadable, unintuitive and of little use. If a user hits your search page, but leaves it immediately, it means that the content is probably not useful at all.
There is no better way to enhance the prestige of your site than to provide users with high quality, and you will do so by providing excellent content. Social media is another channel for promoting such desired values.