3 Ways to Increase Social ROI
Creating a well-executed social media strategy that generates an exceptional return on investment (ROI) is never an easy feat. It has become even more challenging as the amount of digital content being produced continues to skyrocket. To stand out and help make your social marketing journey a little easier, we are going to walk you through three ways you can improve your social media marketing strategy and increase your ROI.
Establish Digital Credibility
Before you begin creating content, defining audiences and pushing ads out on social channels, you need to do a thorough sweep of your digital footprint, because your customers will. This includes reviewing the content on the website, not just your blog posts but also your voice and tone, images and user experience. Is your site easy to navigate? Is it obvious where your customers should click and the journey you want them to take to learn more and make a purchase? You also need to review your videos, social media channels, reviews on third-party sites and even your business listings. Each touchpoint is an opportunity to educate your potential customers and engage with them. Customers want to know who they are buying from, if they are trustworthy and will your product stand the test of time.
Start this process by reviewing each channel where your business is represented to ensure your branding is consistent and the information is up to date. Confirm that every channel is using the most up-to-date logos, brand voice and tone, and your business information such as hours of operation and contact information are correct and consistent. This will take time and will need to be monitored on a consistent basis, but you should begin taking notes of what needs to be updated and start to make the changes now. Continue improving your digital footprint by engaging with customers on your social media channels and third-party websites. Customers like to know they have been heard. Did you get a bad review? Respond to their review and offer to help by giving them the opportunity to reach out to your company directly. Get a good review? Thank the customer and let them know they are important to you. This will turn your customers into ambassadors for the brand and shows potential customers that you listen and care.
Refine Your Audience
Understanding your audience and refining your targeting will make sure your dollars are being spent reaching those most likely to make a purchase. Thus, increasing your ROI and ROAS (Return On Ad Spend = Revenue / Cost).
Optimizing your audience segments will take time and effort. As a marketer, you need to know who your current customers are, why they pick your product over competitors, how often they make a purchase and how they found your website or business. Understanding what channels drove traffic and led to conversions will help you optimize your marketing channel strategies to increase your ROI. You can gain additional insights about your customers by performing market and competitor research or a needs analysis.
Adding a Facebook pixel to your website is one way to gain insights on your customers. It will provide you with vital information about who is visiting your site and help you better understand their social behaviors and interests. With Facebook Pixel, you can track conversions from Facebook, build targeted and look-a-like audiences for ads and retarget them on social media. For example, if they clicked on a product but didn’t purchase, you can retarget them with more information about that product in hopes that it leads them back to finish making a purchase.
Engage with Your Followers
Social media is just that...social. It’s a place where people gather with friends, build relationships, share a little bit of themselves and learn new things about other people and businesses. It’s all about connecting people to people.
Your fans and followers have liked your page because they enjoy your products, the content you share on your social channels and want to engage with your brand. Producing sales pitch after sales pitch isn’t going to get you anywhere. You must engage with your audiences by responding to comments and messages, building trust with your followers and priming them to respond. This helps humanize your brand as well.
To make it easier for you to manage all your channels and connect with your followers there are plenty of community management tools out there. These tools provide opportunities for content scheduling, keyword listening and help aggregate conversations from all channels into one place for quick and easy engagement. You can also set up notifications so you never miss an opportunity to build a relationship with your customers.
There are other benefits to engaging with customers beyond building trust and loyalty that help your marketing dollars go further. Facebook's algorithm sees every interaction including reactions (likes, love, haha, etc.), comment or share on posts and will push content to people who have previously interacted with your page. Every interaction increases the chances of your content being seen by more people – it’s called Viral Reach*. Being consistent in responding to your audience and engaging with them builds their desire to interact with your content, leading to a greater reach. So start engaging in conversations to help get more of your content in front potential customers.
You Have to Put in the Work
Marketing on social media can be challenging, but the benefits are worth the effort. Whether you’re new to social media marketing or you’ve been in it since the beginning, these three steps will help you kickstart or boost your marketing efforts.
If you still have questions or need help refining your social media strategy, search for “CVR Indy” and send us a message on Facebook, Twitter…or whatever channel you’re comfortable with. We’re here to help!
*Viral Reach: The number of people who had any content from your Page or about your Page enter their screen because their friend likes or follows your Page, engages with a post, shares a photo of your Page and checks into your Page. Source: Facebook