From Facebook, Twitter to blogs and videos, social media has become part and parcel of modern marketing efforts. Still, convincing the management to spend resources on social media can be a tough job for marketing personnel. Some executives have yet to be convinced that social media is an excellent marketing strategy; some question if it’s not exactly the latest black hole for marketing dollars.
A marketer’s best course of activity is managing social efforts to generate demonstrable return on investment. Let’s appear at five best exercises to help you do exactly that.
1. Take heed to your buyers; determine their needs and preferences for consuming content.
You require to know your buyer inside out, and you need to read how they consume content. Social media have come in many forms now, so which formats are they more comfortable with? And at what points of the buying cycle do they want which different types of substance? At the close of the day, the most significant matter is that you’re on the same page as your purchaser. Discover the channels your best buyers aggregate in, and center your efforts in that respect. At one time you’ve placed the right channels, listen hard to the conversations and movements. Then, publish useful information that prompts questions that your experts answer. Cause everything you do on Facebook, Twitter, multimedia, the corporate blog and hence away, elicit a unified behavior that presents you the chance to offer an insightful reply to client demand. Begin prompting customers to signal what they’re most interested in, when, where and why. Call for action on each answer. If you’re asking the correct questions and absorbing them in the direction they’d like to be employed, then you’re on your path to building key influencers on the societal graph and ramping towards a solid ROI.
2. Align social media efforts with traditional marketing activities.
Social media needs to be recognized as another communication channel – one with a built-in capability to capture consumer feedback, often in real-time. Line up your social media strategy with the broader product marketing strategy; one holds the other. The key is to organize these actions. Your alignment can come through targeting, compelling key messages, a strong differentiator, and a coordinated communication plan. If possible, structure this so your social results are traceable. As an instance, if you execute an email campaign for a white paper, you should hold it with social outreach. Use unique tracking URLs for each communication channel and then you know which vehicle is responsible for pushing the most traffic.
3. Mapping social media efforts to business goals and find metrics of success.
Make certain you are open about what ROI means for your society and your endeavors. Is it the total number of sales or qualified leads? Is it the total number of conversations or growth in a number of influencers and advocates? Or is it time saved by customer support not having people wait in a phone queue? Make the goals and clear metrics you’re looking for, then determine what strategies and tactics will help you reach those goals. Think hard about how to broaden your definition of metrics from the captured analytics from Google Analytics, and so forth (page views, time on site) to other measurements. For instance, take Facebook “Likes.” If you are measuring Facebook Likes, be sure to specify what the Like means from a business view. What will you do to maintain the community engaged after the initial like? What was the conversion rate? When and how might that conversion happen?
A conversion could be a sale. Or, depending on your typical buyer’s journey and the length of your sales cycle, it could be the download of a white paper, or participate in a webinar or event. It could as well be a compelling post by a customer that compliments your company or your merchandise, providing a positive influence to a whole network of people. Study with your pipeline to define how these steps will be seized and reported on before the campaign is set up.
4. Don’t neglect qualitative results when determining quantitative ROI.
It might be easier to track your progress with qualitative measures such as comments, or even case studies and stories. Here are a few cases of the benefits you might realize every day from social media marketing:
• Customer feedback
• Market insight
• Brand advocates and influencers
• Publicity (reporters/bloggers are all over Twitter!)
• Brand awareness
• Solutions to problems
• Connections to new partners and suppliers
• Cost-effective customer service
• Event marketing
Now, how many of these benefits would fit neatly on a control chart or spreadsheet? Almost none, in fact. Attend if you can gain agreement to debate a range of job benefits and qualitative criteria as an acceptable return on investment.
5. Become so useful customers turn to you first, out of habit.
Whole Foods Market’s mobile application helps shoppers create a meal based on the food they’ve already got on hand at home. Tesco’s mobile application caters to wine aficionados’ desire to immediately buy a new discovery while tasting it at a friend’s party or a restaurant, simply by submitting a picture of the label. Ask yourself, “What problem can we propose a clever, unorthodox or novel solution to? Might this give us an excuse to speak about our products in creative ways that convey value to clients? Or remain in touch with clients in ways that permit us to prompt more behaviors?”Blog, tweet, and post more to solve customers’ problems, and less to offer discounts, gain attention, or “share your culture.”
In the remainder, not every positive result can be assessed, and social’s greatest contributions may lie in the difficult-to quantify areas of awareness and confidence. Prospects that don’t interact with you directly on social may still be influenced by repeat exposures to your brand and messaging, and predisposed to prefer you based on how they’ve seen you solve problems for other people. Clients that do mesh with you socially are likely to put up what they do, love about your merchandise or services, tempting others to look to you as well. Depending on how or when they make contact, social may not fix the attribution for such an opportunity. Determine the metrics that matter to your clientele. Set them as just as you can, and track them. Look for trends you can correlate with social action. Keep an eye out for active customers who advocate for you on and offline. Social media has value beyond just marketing; used to the fullest, it is associated with every portion of your organization’s business.