Social Media ROI! How To Decide Which Platform To Use For Business
In this post Matthew Berman, CEO of Ember Networks, discusses how businesses make decisions about investing in social media channels and finding the best social media ROI.
Everyone’s using social media for just about everything. You know there are opportunities to market your business online but what exactly should you do?
Sure you’ve heard of Google, Twitter, and Facebook. While these digital platforms command hundreds of millions of users, there’s a whole other online world worth examining.
Many of our clients at Ember Networks want to immediately jump into Facebook or Twitter. Many don’t want to, but feel they must have a proactive presence on these platforms. While this may be a valid strategy for many (especially B2C companies) this may not be the social media marketing move for everyone.
Hang tight ladies and gents because there’s a few things we need to look at before committing valuable time and resources to a project that might not best for your business.
1. Get a really good idea of your target market
Here’s a start. Always know who you’re talking to before committing to any marketing plan. I know you’ve heard this before, but seriously do it. If you’re selling a B2B product / service think about your target market and how they will engage with online platforms. Are they on Facebook to communicate with family or to make purchasing decisions? Understanding and segmenting your target market will better allow you to make these decisions.
Some good questions to get you going are:
- Who uses your products and services?
- How old are they?
- What socio-economic status are they?
- Do you they use a desktop or mobile to browse the web?
2. Monitor and Analyze The Marketplace
We advise clients to perform an analysis of the social space before investing in a content / distribution strategy on a particular social network. Identify mentions of your brand, competitors, and industry in each and determine which social network has the best potential for engagement. There are a variety of free and corporate level tools to help sort out influencers, sentiment, identify potential leads and more.
These are free tools to help you with Social Media Listening but are limited in features or functionality:
These are mid-priced tools which offer real time brand monitoring and message scheduling capabilities:
These are enterprise level tools and come packed with a wide array of tools, features, data capture, and more:
There’s a good chance people are already talking about your brand or services. There’s also a really chance they are talking about it on forums and blogs you have never before heard of. It may be more effective for your social media ROI to begin your outreach with people who are already aware of your services. Remember you can always turn friends into advocates.
3. Integrate Your Social Strategy With Your Sales Funnel
Your digital marketing process, from your social network outreach to the design and content of your website, should be optimized to funnel visitors through your sales process. Provide digestible information about your products / service in social networks you can successfully integrate into your funnel. Understand how content is consumed in each social platform and if your brand is capable of producing the type of “sticky” content necessary to succeed in such a platform. Definitely be sure your own website is optimized for sales / conversions / leads whatever if your strategy includes funnelin
You’ll see your social media ROI drastically increase when your outreach methods work in tandem with your entire sales strategy.
4. Consider Your Businesses Digital Assets and Strengths
Each social network responds to different stimulus. Is your company capable of producing breathtaking photographs about your product / service? Facebook, Instagram or Pinterest may be for you. Does your firm employ a well respected executive? LinkedIn and a company blog may be a great place to showcase their expertise.
Creating great content is a talent and takes a good bit of time, and time equals money. Seriously consider, if you’re going to be producing content in-house, what type of creation process you’ll be able to handle. The easier it will be for you to create effective content in-house the greater your overall social media ROI will be.
[alert type=”success”]Would you like to know more about marketing and selling on social networks? Contact Ember Networks today for a quote on our digital marketing services.[/alert]