Can You Churn Out A Profit Through Social Media Marketing?
April 20, 2017
Article Overview10min read
With billions of dollars spent on social media advertising, brands are looking for large investments to fight for that top spot and go viral. Is there social media ROI? And how can you demonstrate this to stakeholders?
Content is being produced at top speed, and statistics reveal content produced every 48 hours is more than it was when it first started nearly two decades ago. The role of social media management has transformed in the last several years. Previously, brand success was based on the number of likes received. It is not the case anymore. Social media strategy incorporates numerous elements starting from brand loyalty, brand awareness, customer acquisition, customer retention.
To turn your social media management strategy into one of profit, you need to differentiate between content that sells and content that is stagnant. With deep seated analytics available you can get insight into how well your actions are doing. Social media tools and features will let you measure, monitor and evaluate, best posting times, what the community is currently talking about, your brand advocates, links being clicked on, social sharing and app downloads.
Invest in the right social media channels. Find out where your customers gather and interact most frequently, and invest in these channels. There’s no point in being on Twitter if your target audience is on Facebook. As much as it is tempting to get onto all social media platforms, choose wisely. Focus on networks where you can find your customers. For instance, if you are running direct response campaigns, it is ideal you select Facebook and Twitter.
For you to have any success and churn out profits, you need a strong community. Focus on building your community get your followers to spread the message about the product or service you are offering and reward them in the process. An engaged audience will start building affinity to the brand. The closer your followers become to your brand, the more loyal they will be. You need loyalty for a business to have any success in the real world; it is this loyalty that will get them to open up their wallets generously.
Your social media agency can offer incentives to your community through special promotions and giveaways. Get your followers to participate in events, promotions and contests. This is a fun and exciting way to engage an audience, and they as much as you will enjoy being part of the process.