A survey from Manta, a business community site, gathered insights from more than 1,200 SMBs and found out that among those who invested on social media for their marketing campaigns in 2012, only 40 percent saw a return on their investment.
This might be a mystery to some people who are constantly witnessing the power of social media in their daily marketing activities. If it’s so powerful, why can’t they see their investment blossom? This phenomenon could might as well add to the growing myth that social media is indeed a non-ROI venture.
It is, however, still a myth.
The truth is, social media can ensure ROI; you only need to take necessary steps to see to it that you’re getting the most of your time and money.
Be very strategic. According to Mana Ionescu, president of Lightspan Digital in Chicago, many small businesses waste several hours a day in coming up with a perfect tweet or Facebook post. To save time and energy, she suggests creating sort of a “daily task manager” to organize specific tasks during the day, such as scheduling photo posts or retweeting certain relevant posts. Managing the tasks will make up for lost time and also makes it easier to track. Being strategic is working smarter, not harder.
Provide a clear action path. One of the reasons why companies don’t see ROI is the fact that the social media process is often incomplete. When people check out you content on social networking sites, they have to be directed to a specific path that leads to conversion. Without it, the very purpose of social media marketing is defeated. After reading your article, what’s next? After seeing your tweet, what’s next? If they don’t clearly see your call-to-action buttons, they stop at being mere readers and not potential customers.
Give away free stuff only when it makes sense. Freebies are not supposed to be acts of goodwill; you don’t give stuff away just for kicks. There should be a defined goal in that process. Encourage a trade between you and your recipients by asking for information in exchange of the goods. If you don’t see the benefit of giving a free product to a low-chance prospect, don’t bother. Instead, exert your energy on figuring out what would make that person become a customer, and base your freebies on those needs.