How social media can increase your ROI

How social media can increase your ROI

Social Media

GlobalLinker Staff

GlobalLinker Staff

30 Oct 2020, 09:45 — 5 min read

People have been using social media considerably more than ever before, with some of the most popular channels being Instagram, Facebook, Pinterest, Twitter and Snapchat.

 

So, are you all set with a social media strategy for your business? How do you know if you are making progress or just going in circles? You measure and increase your social media ROI.

 

ROI stands for ‘return on investment,’ which is a metric that shows how much revenue you have earned or measures values like comments or email sign-ups you've received from your social media activities.

 

For boosting the effectiveness of your current social media strategy, here are six expert tips to increase your social media ROI.

 

1. Choose the right channel 

Choosing the right social media channel for your brand is extremely crucial, and it can make a huge difference. The medium you use should be the correct fit for your defined target audience and your marketing goals. 

 

Below are a few points that can be a starting point for selecting the appropriate channel:

  • Facebook has the most significant client base. Approximately 1.1 billion regular as compared to 500 million Twitter users.
  • Facebook gathers 8% of site hits on the web, contrasted with 1% for Twitter and LinkedIn, and only 0.5% for Pinterest.
  • LinkedIn and Twitter incline toward B2B advertising, while Facebook dominates the world of the B2C market.
  • The second-biggest search engine is YouTube. It is a great marketing source to use. Also, it will help you to increase exposure to other social media marketing campaigns and your videos.

 

Take your time, define your target audience, and niche. Select the most well-suited mix of social media channels for your brand.

 

2. Create attractive content 

Content has the power to boost your search engine rankings and ROI. Leverage the power of content, and ensure it is creative and attractive for its audience. There are a few other points that you need to keep in mind:

  • Every social network has its methodology. It is important to understand its algorithm and post content accordingly.
  • Make a posting timetable and make your followers feel part of your brand. 
  • Use your website to increase positive social media content about your organisation. 

 

3. Push user engagement

The size of your organisation is not essential when it comes to giving your customers personal consideration. Stay in touch with them; respond to their comments. Engagement with your followers should be the most significant part of your social media strategy. This will make them trust your brand, and customers will be more prone to purchase from you.

 

Also read: 10 benefits of social media marketing for startups and SMEs

 

4. Tag URLs to track ROI

You can’t improve what you don’t measure. With different marketing campaigns simultaneously, it can be hard to track arrival through a variety of channels. One solution for this can be utilising UTM tags in the URL that tag a particular marketing campaign source, which gives you a chance to see activity from different social media channels. Using tag URLs can tell you how much traffic your campaign is generating through social media, which helps you gauge your social media strategy's success. 

 

5. Monitor site behaviour and conversion funnel

With an eCommerce business, you can easily measure the impact of social media marketing with Google Analytics. You should also monitor your website behaviour and conversion funnel channel. You can also track online networking’s power to drive more conversions by offering something special for your social followers.

 

6. Paid promotions

Social media channels also give you a chance to promote your brand. Push particular messages, beyond your quick network of followers. You will instantly see enhanced ROI by boosting posts, for short social campaigns, as well as for long-haul ROI from a recently gained audience who normally would not have found you. 

 

So here are the six expert ways to optimise your social media ROI. It is high time to drive results in your business with proper planning and using the tactics discussed in this article. Do share in the comments section below your strategies to increase your social media effectiveness.

 

Also read: Most important social media trends to know in 2020

 

Image source: shutterstock.com

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GlobalLinker Staff

We are a team of experienced industry professionals committed to sharing our knowledge and skills with small & medium enterprises.

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