Every marketing department, marketing professional and social media manager wants to understand how their efforts are on social media are creating a return on investment. For most companies and organizations this ROI is measured in dollars, however, the savvy marketers know that ROI on social media can be measured in many different categories, i.e. customer relations, engagements, connections and more.
Below are four simple hacks to attain social media ROI that when developed and properly maintained will effectively demonstrate marketers’ efforts on social media, (ROI.)
Create social media efforts that align with business goals and objectives. It is critical to define what ROI means for your individual company/organization. Develop metrics to ensure your efforts hit or surpass your goals and objectives. Either create or establish your brands’ social media communication strategy. How will you respond to questions? What is your brands’ voice going to look like and feel like on social media? Lastly, identify what strategies and tactics that will help your brand achieve your business goals.
Traditional marketing and social media must be parallel. Aligning your social media marketing to your traditional marketing efforts is paramount. Including your social media handles and, even more important today, hashtags in your “traditional marketing” is a must to see real measurable results. Next, use the more traditional routes of marketing to drive and ignite social engagement with your brand. Last but not least, try retargeting traditional marketing messaging for social content.
Have big ears. (listen to your customers) Listening is easier and even more important for businesses and organizations in today’s marketplace. By listening to your customers on social media you will uncover what their needs are and what they like as well. People want to talk and social media offers them the platforms. By helping people resolve conflicts or answer questions on social media, you are offering an immediate solution to their issues. Other will see your efforts and reward your brand by engaging more and becoming a repeat visitor. Identify the channels that your audience is on the most and become an avid listener. Post useful content that drives people to websites or causes them to act in some way. (This is step has the highest potential for ROI in terms of dollars)
Become a consistent/reliable resource. Our last item on the list, might just be, the most critical overall in terms of attaining an ROI on social media. By posting consistent and relevant content on social media increases the likelihood that your brand will become the “go-to” brand. If your content creates action or helps customers solve their concerns, they might just be predisposed to prefer your brand over others. Overall, determine the metrics that matter for your business. Define them as simply as you can, and begin tracking. Look for trends you can correlate to social activity so you can add them to your social media ROI.
I hope this helps you, the social media marketer, create social media strategies that will increase the ROI on all your social media marketing efforts. Be consistent. Be reliable. Become a avid strategist. The ROI is there, now go develop YOUR tactics to measure it. Jay Baer is known for saying, “The goal is not to be good at social media, rather goal should be to be good at BUSINESS because of social media.” (TWEET THAT) I simply love that quote.