A Comprehensive Guide To Increase Your Social Media Return On Investment (ROI)

ROI

 Is social media as popular as people make it out to be? 

What do you check first thing in the morning and the last thing at night? Your social media account, right?

There, you have your answer.

Yes, Social media is as popular as people make it out to be, in fact, even more.

A report suggested that by 2019, around 2.77 billion people will be engaged in social media.

No wonder marketers aren’t leaving any stone unturned when it comes to leveraging social media for marketing.

However, not every marketer gets an equal output notwithstanding the efforts.

The bad output or good output, it all comes down to ROI i.e return on investment.

What Is Return On Investment (ROI)?

 

An organisation spend a reasonable amount of time, money and resources on social media marketing for a range of objectives. After all these efforts, one wants a generous amount of return.

ROI is nothing but this “return” that every marketer seek.

It can in the form of revenue generated, customer satisfaction, lead generated, band awareness so on and so forth.

Return On Investment (ROI) is a performance measure, which measures the profit inculcated after making an investment or the efficiency of an investment.

How To Calculate ROI?

 

If you’re talking in the terms of revenue then there’s a simple formula to do that.

Here’s what the formula is: 

Profit / total investment (people hours, ad budget, etc.) X 100 = social media ROI (as a percentage)

However, profit or Return On Investment (ROI) cannot always be measured using monetary value.

It limits your knowledge regarding many other ways your investments and efforts in social media might be paying off.

Say, your goal is to generate massive leads and the result is actually aligning with your goal then your ROI is relatively good.

However, sometimes your return might fall short resulting in a poor ROI.

Seeing aforementioned, you now know how to consider your social media ROI in other terms than revenue. It’s nothing but a ratio between Gain and Cost (efforts, monetary value, resources etc).

Why Should Every Marketer Adopt The Practice Of Calculating ROI?

 

ROI is an effective as well as a robust way of analysing whether your investments and efforts are bearing any fruits or your goals are aligning with your efforts. If not, that means you’re not bringing in results at all or all your efforts are falling short.

Once you analyse where you’re falling short, with a right road-map, brilliant tactics and appropriate planning, you can work towards achieving an improved ROI (better output, more profit).


Use These Brilliant Tactics To Improve Your ROI And See Those Dollars Going Up

 

1. Invest In Right Social Channels

select right social channels

There are hardly any businesses who aren’t reaping the profits using social media channels.

Ones with a proper social media strategy are harnessing massive traction, increased google rank, high conversion rates etc, resulting in high ROI.

However, to achieve all this and more, your objectives should align with the social media channel you chose to leverage.

For example, if you are a B2B enterprise and lead generation is your goal then Linkedin and Twitter are your holy-grails.

Do extensive research about your targeted audience and niche so you can identify the pages they’re clicking on, the social media platforms they’re most engaged with. Keeping all this in mind, now invest in the right social media channel.

2. Fresh And Relevant Content

relevant content

Every blog post regarding B2B marketing reiterates the same suggestion again and again. So much so that you’re probably tired by now hearing how you have to create fresh and relevant content to drive traffic.

However, it is so important that it actually warrants repetition.

Write about things that are helpful to your niche audience. Your posts should be engaging enough to bind your audience and attract them towards your website.

Pro Tip: If you’re unable to come up with fresh content or don’t have enough time to write something from the scratch, then you can always curate some.

Share links and descriptions of some great content that you came across the web or you can curate visually aesthetic images, videos, memes, news, slide-shows so on and so forth.

3. Surpass Your Competition

competition

What’re You Waiting For, Knock  em dead

Don’t forget, you’re not the only fish in the pond. What strategies you’re using, your competitors are always doing something better. This is exactly what you have to overcome.

Very closely analyse your competition’s (who are thriving more than you) social media marketing strategies. Research and document why they’re driving more attention. When you know an answer to that “why”, leverage it.

That’s not to say that you should copy their idea. Instead, innovate it, make it even better and then see apply it.

4. The Pareto Principle

Are there any chances that you’re overdoing your promotion without actually knowing it?

What’s the concentration of your promotional content juxtaposed to organic content? 60% promotional and 40 % organic? 40 % promotional and 60% organic? Or maybe it is equally split into 50/50?

If you’re doing anything of the above then you’re doing it all wrong. Always remember to apply The Pareto Principle, that is, ‘The 80/20 Rule’.

Keep your 80% content organic and relevant, and the rest 20% promotional. People use social media to see relevant and engaging content, they don’t want to come across your online sales pitch all the time.

6. Shower Personal Attention

pay your customers extra attention

While skimming down my Twitter Feed when I came across these beautiful sunglasses by Jimmy Choo, I couldn’t help but comment asking about their in-store availability. And tada, their reply came immediately.

Now, I never expected that a giant like Jimmy Choo personally replies to their prospects. Nevertheless, it felt nice to get a reply, not to say, really helpful.

So, no matter how big your company is, customers are always seeking personal attention. Respond to their comments, go out of your way to help them out. Engage them directly even if they’re not asking questions.

It adds value to your brand, garners trust and respect, and it goes without saying that the prospects get more inclined to do business with you.

So walk that extra mile and shower your customers with some personal attention.

7. Don’t Fake It

don't fake it

Even young Drake can tell

 

If you’re faking about your brand or your work culture then you’re doing a great harm to your brand. Your customers can smell the fakeness from a mile away.

You don’t want people to call you out on your unethical activity, it will reflect very badly on your brand. Recovering from this wouldn’t be easy so, steer clear of fake content and post the facts that reflect your work culture the best.

8. Incorporate Relevant Call To Action

Incorporating Relevant Call To Action with your social media posts can serve two purposes.

First, it can track your social media ROI effectively. It’s like you’re providing your prospects with an easy way to take the next step.

Moreover, given you provide appropriate and actionable landing pages, CTAs will help generate massive ROI.

9. Build Authority Using Guest Posts

Do you want to emerge as an industry leader? The best way to do it by posting on someone else’s website or blog. This way, you’re exposing your content to a whole new set of audience.

It gains you massive exposure, builds your authority amidst your niche and improves your web traffic. All this will result in humongous ROI.

One other way to build your authority and emerge as a thought leader is by leveraging Quora, a popular Q&A website.

Ask questions and post answers related to your domain. Add inbound links so that prospects can directly land on your website.

10. Monitor Your ROI Every Quarter

You can’t fix something without knowing what’s wrong with it or if there’s anything wrong with it in the first place.

Don’t wait for an epiphany to suddenly realise that your social media marketing is not generating proper results. Monitor it regularly and see where is it going wrong.

And when you know the problem, fix it. Look around you, how rapidly things are changing.  Don’t worry about experimenting, break out of your comfortable shell.

Use these stellar tips to improve your dwindling ROI and see it going up. Along with these tips, a right strategy and a credible team will serve as a panacea for all your social media ROI problems.

What are you doing to boost your social media ROI?

Our Reader Score
[Total: 0 Average: 0]

About Deepti Jain

Deepti is a senior content writer with AeroLeads. She spends a lot of time brainstorming ideas and writing marketing and sales content. She also has a knack for writing and reading about politics and prevalent social issues and regularly pens letters to the Editor of The Hindu newspaper. When she is not working, you’ll find her socializing with friends or binge-watching Netflix. (And devouring sushi).

Post Navigation