How do you measure your Social Media ROI?
It’s an age old problem with any form of marketing – how you do measure your return on investment (ROI)? And social media is no different. So how can you make sure your marketing is working for you?
Marketing – whatever form suits your business – is hugely important in raising customer awareness of what you do or sell – and ensures you are reaching out to potential customers.
It can, however, be bewildering to know where to begin, how much to spend and where, and what to do to reach your potential customers. It can be costly and whichever mediums you use – it is a long game.
Marketing of any form does not necessarily lead to new customers straight away.
It’s easy to think you don’t need to do marketing if you already have an established customer base or are busy.
Not marketing during your busy times could be to your detriment if you suddenly lose customers and find yourself needing to shore up your customer numbers quickly. Having a stop / start on / off approach to your marketing could work against you in the longer term.
What marketing is right for your business?
That very much depends on who your customer is – and how they may look for goods or services like yours.
It is not a one size fits all solution, and it is good practice to adopt a mixture of on and offline methods to get the best results.
Measuring Social Media ROI.
Social Media can be a very powerful tool for reaching new potential customers. Just like any other form of marketing – it can be a long game!
Your objectives for using social media should be multiple – as it is more than just ‘marketing’. It is:
- A way of demonstrating your expertise or being best in class in your field or for your goods and services
- A customer communication channel – with customers increasingly using Facebook Messenger, Direct Messages on Twitter and the equivalent on other channels to make enquiries about buying, as well as getting in touch if they have an issue they need to resolve.
- A great way of collecting testimonials and reviews – as well as being recommended to others via your existing customers.
- A cost-effective way to promote directly to your potential customers via Social Media advertising; using the tools within the platforms to promote events; offers and jobs.
- A way of showcasing your business’s personality – so people get to know, like and trust YOU– and when they are ready to buy – it is YOU they will want to come to.
All of this effort – if done right – will equate to people choosing you and your business over your competitors when they are ready to buy your goods or services.
Analysing and measuring your impact
A massive advantage of Social Media over other forms of marketing is the ability to track your results. All platforms have analytics which you can use to monitor your progress.
You can track:
- Increase in followers
- Particular posts for reach and engagement
- Advert statistics
- Overall account reach and engagement
- Some platforms will give you demographic data on what your fan base looks like e.g. towns, age, and gender.
Regular monitoring of your content and impact will help inform your future Social Media Marketing efforts.
Make sure you scrub up well!
Customers are increasingly using the internet to research businesses before they buy. Your social media is an important first impression – and can make the difference in achieving a new sale or customer. This applies equally to the Business to business sector as well as business to consumer.
Step Up Your Digital Marketing in 2019! One Day Workshop – 18thJanuary 2019 – Eastbourne.
For information on our Social Media Outsourced services see:https://www.ditzymedia.com/services-prices/
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