Social Media is a big conversation piece at the moment, particularly within smaller businesses who believe they should get involved because they think it will help their organisation grow.
Before you go headlong into starting your new inbound marketing campaign you must answer these 4 big questions.
The three key business motivations for using social media are:
Financial - Customer Support - Brand Building
Let's take a closer look at each motivation and see how it applies to your business.
This is very likely the most important objective of a social media campaign. Here are a few of the possible financial goals of the social media plan: Revenue – Leads - Building Email List – Referrals – Meetings
If you can track your social media campaign down to the lead form, you are golden. But when the traffic is being driven from your Facebook page it’s a little bit harder to point exactly to the ROI from your Facebook LIKES or “activity.” And if your sales cycle is a bit longer than your normal Google Analytics report, it might be harder to identify the customers who found you and purchased your goods or services because of one of your social media efforts.
2. Customer Support
By using Twitter and Facebook for customer communications many companies have made a healthy case for Social Media as part of your customer outreach program.
The the ROI formula is: ROI= (Gains-Costs)/Costs
Why not do the maths for your situation?
The big companies are not trying to directly sell you something with their Social Media marketing campaigns, but they want you to think of them when you need something. So they are building brand awareness in your mind. If you do buy something from one of the big name players how are they going to measure their ROI?
By setting clear objectives and putting clear analytics and reporting together, a good strategist can set up your Social Media campaign for success. Social should be a part of every business objective, and I can show you how to achieve a solid ROI on your marketing efforts by including Social Media.
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