Social Media for Business: Where’s the ROI?
Why am I spending all this money on social media? Where’s the ROI? Why should I spend more? If it’s not making me money, it’s not worthwhile. Social media for business can be a tricky expense to justify. So, let’s shed some light on why you should.
Presence: Build your brand on Social Media
It’s no surprise that online retail figures increase year on year. Consider the immediacy, accessibility, portability, connectivity, and interactivity offered by the internet. And, more importantly, mobile.
In a word: convenience.
In an increasingly digital world, these factors play a vital role in building brands.
You may have premises and a presence on the high street. It’s more than likely that you have your own website. Probably a personal Facebook page, Twitter, and Instagram account too. Maybe even a LinkedIn profile. Or any combination of social media profiles.
But now, more than ever, it is essential to have a business presence on social media to build your brand. Globally.
With 2.91 billion social media users to target, you’d be stupid not to.
Build your social media presence. Promote your brand. Engage your audience.
Audience: Engage your customers on Social Media
Remember those key factors mentioned above; Immediacy, accessibility, portability, connectivity, and interactivity? These are the cornerstones of social media. This is what the 2.91 billion social media users expect from their online experience.
Immediate gratification. Global portable access and connectivity. The desire to engage in interactions.
Social media offers all of this. So should your business.
Use your social media platforms to engage with your customers. Have a conversation with them. Update them with your latest endeavours. Inform them. Entertain them. Persuade them. Give them a reason to like you.
Create content. Lots of it. Draw them in. Start the conversation. Encourage them to comment. Motivate them to share.
Conversions: Share, share, share across your Social Media Platforms
Social media now accounts for more traffic than search engine queries.
Simply posting an update once and expecting it to get maximum attention is laughable.
Imagine a busy marketplace on a Saturday morning. Every vendor is selling their produce at the top of their lungs. Repeating their offer on a continuous loop. Competing to be the loudest. This is what you are up against on social media.
The average Twitter or Facebook timeline is filled with status updates. New updates are made every second, shifting the previous ones down the timeline into near oblivion. If you only post once, it’ll be drowned out by all the chatter. Your message will go virtually unnoticed.
If you want to maximise your conversions, you have to stand out.
Share. Become that energetic and determined market vendor. Repeat yourself on a continuous loop. Make yourself heard above all the noise on a busy timeline. Share your content. Share your offers (especially key ones). And share them frequently.
Multiple shares, across your various social media platforms, will boost your conversions and engagement.
Your next step is to get traffic from your social media platforms to convert into email subscribers. Routing this traffic to your website, or a specific landing page for subscribers is one way of making it easy for you to follow up and boost conversions.
Traffic: The route to ROI
Social media has become the number one driver of referral traffic to websites. No surprise there!
But, getting that traffic to your website requires a strategy.
The simplest way to route prospective customers/clients from social media to your website is to give them an incentive.
Offer coupons, discounts, giveaways or some other incentive to get them to subscribe to your email list. The average inbox is rammed with content. It’s unlikely that anyone will simply subscribe to your mailing list without a bit of a sweetener to lure them in.
Providing an incentive will convert a significant proportion of your social traffic.
It’s time to make a PACT
So what’s the value of social media for business? Where’s the ROI?
Presence. Audience. Conversions. Traffic. Make a PACT and you will secure a return on that investment.
Find out more about how Social INK can help your business. Reach out here.