A Simple Guide to Help You Boost Your Social Media Marketing ROI
58.8% of marketers consider social media marketing a crucial part of the marketing mix, yet some 20% are uncertain about how to measure its effectiveness. Social media can help businesses raise brand awareness, find a new audience, generate quality leads, and boost revenue.
Image via Buffer
Are you one of those marketers?
Are you struggling to evaluate the ROI of your social media marketing efforts?
Are you looking for ways to boost the ROI of your campaigns?
If you are, I’ve put together a few ways to help you do so.
1. Identify Your Goals and Target Audience
To ensure that your social campaigns generate a high ROI, you need to determine a few things right at the onset of your campaign.
What are these things that you need to identify and define?
- Your campaign goals: What do you want to achieve from your social media campaign? Is it increasing brand awareness or driving sales?
- Your target audience: Who are you trying to target? What are your target consumers interested in? What type of content do they like? Which social media platforms are your potential customers active on?
Answering these questions will help you plan your social media marketing strategy in a better way.
2. Provide Value to Your Target Consumers
Now that you have identified your goals and the audiences you want to reach out to, it’s time to build and nurture your relationships with your target consumers.
But how can you reach out and engage with them?
Here is what you should do:
- Consistently offer quality content: Write content that provides value to your potential customers and generates engagement. Use different content formats depending on what your audience most engages with. You should also define a posting schedule for each platform.
- Partner with influencers: Find an influencer who is an expert in your niche. Have them create great, engaging content for you. The right influencer will be able to effectively promote your products and services and drive people to your brand.
- Engage your audience: Engage with them by replying to mentions, comments, and messages.
Pro Tip: You should consider using social media marketing with email marketing. The ROI of email marketing is high and goes up to $40 for every dollar spent on it. This, in turn, can help in boosting your social media marketing ROI too.
3. Track and Measure Performance
Tracking and measuring the effectiveness of your campaigns can help you identify strategies that bring the best returns and optimize the ones that are lagging behind.
Some of the things you should track include:
- Reach
- Engagement
- Click-Through Rate (CTR)
- Sales
- Revenue
Constant monitoring gives you a fair idea of where you currently stand and the direction you should be moving in for your campaigns to succeed. It can protect you from wasting money, effort, and time on social media strategies that are not offering you the desired results.
If any of your efforts fail to work, don’t be afraid to change them. Keep testing and optimizing your strategies to achieve better ROI.
To discover more strategies for boosting the ROI of your social media marketing campaigns, go through the detailed infographic below on my blog ShaneBarker.com.
Infographic via ShaneBarker.com