Whatever your feelings are about the social media marketing revolution, there is no doubting that the development of Facebook, Twitter, Instagram, and other social media platforms has transformed the world. Over half of the world’s population now spends more than two hours every day on social media. Is social media not working for your company? Then you probably can’t afford to wait much longer.
In the United Kingdom alone, an astounding 84.3% of the population uses at least one social networking platform. That’s a large audience that a company may be targeting – and a lot of potential money that could be lost if your social media marketing plan isn’t up to par.
Is social media marketing actually profitable?
Social networking may undoubtedly be a source of money for your company. But, as with any technique, just because something may work doesn’t imply it will. It would be ideal if earning money from social media was as simple as creating profiles and then sitting back and watching the money stream in.
Unfortunately, nothing in life – or business – is that simple. If your company is not currently experiencing the financial outcomes you expected from social media, it may be time to reconsider your strategy. Your efforts will be rewarded as a result.
The formula is simple: more than a quarter of firms that beat their competitors financially also have a higher social media presence. Getting likes and following, on the other hand, will not keep the lights on in your business. You must grasp how to leverage the power of social media to increase your conversion rate optimization.
How to Improve the Return on Investment from Social Media Marketing
Before you call, read on for 10 tips on how to improve the return on investment of any social media marketing campaign.
Determine your target audience.
On paper, it appears to be a good idea to devote all of your social media marketing efforts on Facebook. In terms of pure numbers, this is the most populous social media network. However, Facebook’s primary population is older than those of other sites. The average Facebook user is in their late thirties or early forties.
Depending on the product or service you provide, this might be ideal for your marketing requirements. This age group is stereotypically technologically adept enough to make an online purchase and has enough discretionary cash to make an impulse purchase. However, if your major target is younger women under the age of 24, Facebook only has 7.3% of them. This renders any investment in Facebook marketing a waste of money.
Perfectly time your material
After determining where your target audience spends their time, you must determine when they are online. Social media feeds change often, and even if you buy advertising space, you can’t ensure that you’ll stay at the top of a user’s homepage.
If you only want to encourage people to glance at your accounts, publish on social media before midday on weekdays. This way, you’ll grab your audience while they’re commuting or browsing while sipping their first cup of coffee of the day.
PPC advertising should be budgeted accordingly.
We promised ROI insights throughout this book, but just to be clear, the I in this acronym stands for investment. Set a social media marketing budget and make sure you’re speculating to accumulate.
Growing your profile organically is excellent, but you’ll need to buy some advertising space to reach the maximum number of individuals. While social media may help a business reach a worldwide audience, local web marketing is always important.
Learn how to sell without using sales methods.
Once you’ve reached your target audience’s social media feeds, you must ensure that you’re communicating in a suitable language. This includes avoiding pushy sales practises.
The name gives it away: social media. Most users log in to their preferred platform to keep up with friends and celebrity news, and they accept advertising as part of the agreement. What they don’t want or accept is being hammered with sales pitches that make it plain that a company perceives them as walking, talking money sources.
Make sales and promotions known.
Everyone likes a good deal, and well-marketed social media campaigns offering deals and promotions can provide encouraging results. If you’ve done your research and are marketing to the right people, anybody who reads your post will be interested in what you’re giving.
Social media advertising may provide an extra degree of intrigue since the audience will feel as if the officer is targeted to their own wants and aspirations. However, as usual, you must select the best timing to pitch these sales. Sunday and Monday are the busiest days for internet shopping, so save your sales posts for those days.