Your social media ROI (return on investment) is the sum total of what your social media marketing efforts bring back to your company. A lot of people are aware that social media plays an important role in the development of their business—but, if you're like a lot of business owners who are still learning the rules of the social media game, you may not exactly be sure how to get the best ROI from your efforts. Here are a few tips that can help you get it handled.
1.) Hire A Social Media Manager
Unless you are pretty much running the show single-handedly, your business can benefit from a social media manager. A social media manager's exact duties can vary from company to company, but he or she becomes the eyes, ears, and voice of your social media campaigns.
You want someone that knows what they're doing in this position. Facebook, for example, continues to be a huge influence on people's purchasing habits—47% of consumers say that it influences their purchases on a regular basis, so you need someone who knows how to cultivate and maintain a presence.
You also need someone who can stay on top of trends. While Facebook is "here" today, there could be a drastic development and shift in online users' habits that makes it "gone" tomorrow. MySpace, for example, used to be the star of the online show—but it hardly makes a blip in the social media world today.
2.) Get On YouTube And Get A Blog
If you're neglecting YouTube, you could be losing out on a significant opportunity for social media ROI. YouTube has replaced cable TV in its reach when it comes to consumers aged 18-34. If you're putting your money in print ads and ads on cable but you aren't vlogging, you're missing a significant portion of the population.
You also need a regular blog. Having a blog attached to your website can move traffic to your site and help you develop a relationship with your customers. Make sure that the information that you put on your blog is correct and clear—whatever service or product you offer, your customers are going to have questions. The better you answer them, the more they'll come to rely on your site (and come back for more).
3.) Start Tracking Your ROI
One of the tasks you need to focus on is tracking your ROI, but you can't do that until you have a clear goal. You may have one of several:
- more followers
- more click-throughs
- more time spent on the web page per visitor
- more people reading the blog
The great thing about this is that the tools are all available to measure these—you can use Google Analytics or similar programs to keep track of increases.
For more information on how to increase your social media ROI, talk to a company that specializes in the industry. They'll be glad to work with you to try to find a way to increase your online presence and track its value to you in real-world results.