Garnering ROI on Social Media

Garnering ROI on Social Media

A company’s promotional efforts usually focus on both direct sales and enhancing brand awareness. Relying solely on one tends to result in an ineffective advertising campaign. In the past, we’ve discussed how online marketing caters to both advertising methods. While search engine marketing encourages conversions (such as emails, phone calls, and sales), social media keeps people interested in a company based on its personality and what it stands for. There are some grey areas, but for the most part SEM is concrete and social is abstract. Keep in mind, though, that social media campaigns can still effectively garner ROIs. You just need to properly plan to reap the rewards.

From setting up your page to being a social guru, here’s what we recommend you do to get the most out of Facebook, Twitter, and beyond.

Get started

If you’re new to social media, you need to start cultivating a social presence before creating a solid marketing plan. Focus on interacting with your client base and encouraging comments, shares, likes, and followers. If this seems a little vain, it really isn’t. This is how the online networking game works. How else are people going to know about you?

Reflect and regroup

Once you’re up and running you can begin honing your goals and expectations. Now is the time to set benchmarks. Give your company a timeframe to see how many likes, followers, comments, and so forth you acquire. One to three months will give you enough information to make an informed decision. By assessing your results using analytics programs, which are imbedded into almost every social site, you can calculate your average reach and observe trends. From there, you can get a better idea of how to improve.

Expand

Now that you have a better understanding of your social performance, it’s time to consider what elements will spice up your pages. As discussed before visual content is a great way to capture attention and demonstrate versatility. Holding contests is another wonderful way to get people involved on your page and prompt new viewership. As always, make sure you analyze the effectiveness of this content and monitor viewer response to ensure you’re providing your followers with stuff they want to see.

Drive people back to your website

Search engine marketing is so effective because it directs people to websites like it’s nobody’s businesses. Social media can do the same thing. Share links to pages on your site, like blogs or special promotions. These can be tracked, just like actions on the site itself. Basically, you can see a visitor’s actions from their initial interest on social all the way to major conversions.

Advertise

Put money behind some of your content. Heck, you can even create straight-up ads. These allow you to reach more people you want. By making these posts link back to your site you’ll be able to attain even more of those coveted conversions.

See how far your social voice carries

To see how far-reaching your brand voice is, do research to determine how frequently your company is searched on social. Don’t worry; you don’t need to dig through countless pages to find what you’re looking for. Programs such as Hootsuite Analytics can help you find out who’s talking about you simply by typing your business’ name into a search box. Programs such as this take misspellings into account as well. Once you figure out how many people are talking about you, see how often people search your competitors as well. This, too, will allow you to set benchmarks.

Focus on social recall

While it’s important to gain recognition, it’s also necessary to ensure people come back to your page and remember who you are. Of course, it’s even more important to make sure they remember you positively. By using programs like the Facebook brand lift study you can see how your posts and ads resonate with viewers. How they feel about your company and whether they want to buy from you are all taken into consideration.

Measuring ROI on social media has never been easier. It’s the surest way to provide your followers with the content and interactions they most desire. When it comes to expanding your online presence and cultivating a unique network, you really can’t afford to do without social analytics tools.

 

Alexandra Latremouille
alex@imaginativegroup.com
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