What IS Your Social Media ROI?

I came across an article from the badasses over at The American Genius called ” Study says investing in social media ads ROI is all a hoax.” And I read it, and I fumed, and then I laughed. It amazes me that after all the years of using and studying social media, people are still doing the same stuff, making the same mistakes, and blaming social media as a fake, phoney, hoax. So let me share some things with you that I share with all of my clients.

First, let’s talk about ROI, which means Return On Investment. In other words, what are you getting back for what you are putting out.

Social_Media_ROI

Let’s get one thing straight; money isn’t the only investment or the only return.

Yeah, that’s what most businesses think of first (since you need money to stay in business) but it’s not the only currency. And if you aren’t sitting down and setting goals and expectations about what your client should be getting out of social media, then you are doing them and yourself a grave disservice.Sit down with your clients (or team) and ask the question “What does social media success look like?” Because you might surprised at the answer. It might be something as simple as “I want people to see our page and know that we’re real professionals” or even “I just need more people on the mailing list” and yes “I want to sell more stuff/services/products.” Your job is to make sure their social media work is aimed at those goals. And sometimes that means redirecting their efforts.

Remember back in the day when Facebook was about to go public and GM announced that they were canceling their Facebook advertising because it didn’t work? At the time, it seemed like it would be a big blow to FB’s IPO, but personally, I just laughed. Because what idiot at GM thought they were going to sell cars through a Facebook ad? (PS – GM totally started running ads again in 2013) In my experience, Facebook ads are good for four things:

  • Facebook actions (likes for the page, engagement, reach, etc)
  • Clicks to a link (join my mailing list, get this free white paper, check out our new post, etc)
  • Retargeting (following users around with that product they just looked at on your site)
  • Funny T-shirts and knock-off sunglasses (impulse purchases)

People generally aren’t sitting on Facebook, looking at an ad, and buying a car/ signing a contract for a $5,000 a month business service/booking a $10,000 luxury vacation.

So if your client is a real estate agent and says “I want to use FB/Instagram ads to sell my listings,” it is your job to say “That’s not how this works. You can drive traffic to the listing. You can make some cool videos of the house to share; but you aren’t going to sell a house from an ad on Facebook. No one is going to click to buy a house. And also, your site isn’t set up to click to buy a house. So there’s no way to measure that.” Tough to hear (and say) but true.

Social Media Measurement

Facebook (and really all social media) is an amazing tool for lead generation, customer service, engagement, and brand building. But it’s the top of the funnel, not the bottom. It’ll get eyes on your stuff, and it will help build trust and reputation, and it’ll keep you in the forefront of people’s minds…..all things that factor in to people making decisions to purchase. And that has a great deal of value.

So before you write off social media as a “failure” or a “hoax,” make sure that you are really defining what success means.

 

Picking The Perfect Platform For Your Business

I’m about to make a shocking statement. Are you sitting down? Okay, here goes….

THERE IS MORE TO SOCIAL MEDIA THAN FACEBOOK.

mind blown

*mind blown*

I know, you weren’t expecting to hear that. And now you’re like, how can that be? Everyone is on Facebook! That’s how you DO social media.

I’m not going to lie; Facebook is a big part of social media. And it is pretty important for a B2C business to have a presence on there.  But it isn’t the be-all-end-all of your social presence, and it may not even be the best place to connect with your customers.

So where is the best place to connect? Where should you be focusing your efforts? And how the heck do you use these newfangled platforms? These four tips will help you find the best platforms to focus your efforts.

Know Your Audience

Chances are, you have an avatar for your customers; a kind of catch-all view of who is interested in your product of service. (If you didn’t create a customer avatar when you first got into business, there is no time like the present to create one!) Once you have a good handle on who your customers are, research the demographics of a variety of social platforms to see IF your customers are hanging out there. WHEN they are hanging there, and WHAT they do there. Do they interact with businesses? Do they click on ads? Do they use offers/specials listed promoted on social? Knowing if your customer base is active on a certain platform will help you decide if YOU should be active on that platform.

Look Outside The Box…. I Mean…. The ‘Book

think outside the box

Be that one flying goldfish, y’all.

Like I said above, Facebook is not the be-all-end-all of social media. Platforms like Pinterest and Instagram have seen a huge surge in users and have become big traffic movers and sales channels for many types of businesses. But don’t discount small social platforms either. Finding a niche social platform might not have the same volume of traffic, but it will have more people that are interested in your specific industry. For example, authors may have a hard time making waves on Twitter, but can build up a loyal following on GoodReads.  If your company is based in food, start a page on Epicurious to connect with fellow food lovers instead of getting lost in the sea of food pics on Instagram. Don’t get me wrong; the big platforms are important. But adding in a niche one can really help you get traction.

Be Realistic

I cannot stress this one enough. Whether you are a one-person show, running a small business on your own, or you have a 5 person marketing team, there are limits to your resources. Give yourself a time budget; how much time can you realistically dedicate to your social media presence in hours per week? Once you decide that, then you can choose how many platforms to be active on. For some businesses, that number is 1 or 2; others can manage 5-6. Whatever the limit is, stick to it and do it well. It would be better for your customers to see 1 or 2 well-populated and managed social pages than 5 that are empty and deserted. Don’t spread yourself too thin. No one likes toast with not enough butter. DON’T BE THAT TOAST.

There are a ton of other factors in building your full social media marketing strategy. We haven’t even touched on content creation/curation, blogging, editorial calendars, etc. But this will help you get started and at least decide where to focus your efforts. And if you have more questions, you can always reach out to me. I’ll totally help you!

 

 

Social Media Pet Peeves

Yay it’s my first social media post! I know it’s not best to start off with a complaint, but this has been rattling around in my head forever, and I need to share it. It’s too long for a tweet or a Facebook post, so here goes……

my-pet-peeves

From Eloquent Science. Prepare yourselves…..

One of my biggest pet peeves is something that has become a common practice among social media “managers.” I say “managers” because I feel if someone were truly a professional, they wouldn’t fall into this trap. The thing that bugs me is the “Like my new page!” plea. You know what I’m talking about; you get that notification and/or FB message (sent to a HUGE list) saying “Hey you, check out my new client! I’m managing their social media, so please like their page. Thanks!” This is wrong on so many levels, but I’m going to break it down to three main reasons.

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