Few things matter more to a company when it comes to marketing than return on investment (ROI). The more clear the results we receive, the more comfortable we feel with our work. While it may seem clear when something’s working and when something isn’t, we still want to get as many details as possible to validate our progress. However, things can be productive and effective without having direct numbers leading to sales. We discuss why ROI is more difficult with social media, and why that’s okay below.
Social Media and ROI
Social media was not designed to be a selling-first platform. Although businesses and social media platforms have both realized how profitable they are, it’s still a user-focused product. In the midst of the sharing pictures and commenting on recipes however, there is plenty of opportunities for brands to make money! Most social media platforms offer plenty of analytics for businesses to use to their advantage. How many people viewed a post? How many actually clicked on a link? How many new followers does your page have?
But is it possible to find the actual ROI? Using more specific analytics, it’s possible for companies to see what sources actually led to customer conversions. This could be making a purchase, but could also be a phone call for more information or anything else that leads to a sale! While it’s an extra step, it’s still a great way to get the answers you’re looking for.
Things to Remember
First and foremost, remember why you’re using social media. While some B2C companies may heavily lean on direct sales from social, most businesses use it primarily to boost brand awareness and consumer engagement. Many potential customers may use social media to first visit a website, but may not necessarily make a purchase during that time. Other digital marketing tools are then able to send these consumers advertisements on other pages they visit, email campaigns, additional social media marketing, and more!
While the goal is always to increase sales, it’s important to focus on the quantifiable characteristics that make social media such a powerful tool as well. Quality photos, videos, budgeting for boosted posts and ads, and paying attention to audience feedback go a very far in achieving long-term success. It’s also very important to remember that many social media users are in the consideration phase when it comes to new products, so plenty of engaging content that links to more information is always helpful!
Uptick Understands Social
The content team at Uptick Marketing understands what’s needed on your social media to push your company in the right direction, and the tools to place around it to get you the most bang for your buck! We are ready to engage customers in a new way, lead them to your website, and get your company the results you want to see – all while providing the analytics to keep communication clear. Contact us today for more information.