Social media return on investment (ROI) indicates the impact your strategies have on your goals. It can help you discover if your strategies help you generate revenue, increase brand awareness, drive conversions, etc.If you’ve built your career in the communications industry, you’d know how important ROI really is for driving your brand growth.
But how can you improve social media ROI?
It will involve, among other things, cutting on spending and increasing effectiveness.
The following are some of the strategies you can use to reduce spend and increase the effectiveness of your campaigns.
Let’s get this straight:
To keep your audience hooked, you need to keep them fed with content consistently.
However, you should always pick quality over quantity.
To stand out among your competitors, you need to publish high-quality content that you audience values.
Leverage content that makes your audience like you.
Also, there’s a higher chance of them remembering what you post rather than how often you post.
Does your profile picture speak for your brand?
Does your bio communicate key information about your business?
Remember that you get just a few seconds to impress a new visitor. Make sure you do it right. For this, you can start a mentorship program and build a robust image. It helps to increase customer loyalty. A good rule of thumb is to keep your profile and description simple, concise, and catchy!
Is your content on social media engaging?
For your content marketing strategy to work, you need to have a thorough understanding of your audience. You should also know what channels they frequent and the kind of content they find engaging.
Knowing this can improve your content writing process.
How is this?
It allows you to create content with your target audience in mind. You can write content that resonates with your audience and solves their needs. For example, you can add your coupon codes, offers codes for your e-commerce base website to get better conversions.
For example: If you have a blog post that received a high number of views, comments, and shares. Re-purpose it into engaging social media posts, short videos, shareable infographics, etc.
The key is to find elements in your content that make it informative, entertaining, or educational. You can then use these elements to transform your content into standalone content pieces.
You cannot improve what you don’t measure. You need to find out what tactics work, which ones need improvement, and which ones to do away with completely.
However, herein lies the problem.
Most marketers test out or change all variables at once when tracking results.
For effectiveness, you should focus on one single variable for every test.
You could change the timing of your post to see what time of the day or week you get the most engagement.
You can also create video ads to promote your services/products, which are very trending on social media platforms. Big influencers also use short videos to promote products and services.
Also, you can create an agile workflow to increase your team productivity ROI.
Once you figure this out, move on to frequency. How many times a day should you post on each channel?
How does this help?
This kind of testing allows you to gain clarity on how changing one variable makes your strategy more effective. You can then implement changes, find out if your test results were correct, and use this information to inform your future campaigns. Also, you can boost your agency's brand awareness through a social media marketing campaign using specific keywords such as real estate marketing agency for a particular agency, and also you can create hashtags for these keywords.
However, if you test out all tactics at once, it becomes hard to tell what needs improving or changing.
Want to know more about how you can boost the ROI of your social media campaigns?
Check out the infographic below for additional tips.
Infographic via ShaneBarker.com
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