Marketers rely on data and numbers to tell them how successful their marketing efforts have been to their company. Specifically, they want to know how many dollars each marketing campaign is bringing to their company and if the return can justify the investment. Identifying return on investment is a difficult task when it comes to social media.
The value of social media is much more expansive than a dollar amount. Marketers have to take into consideration brand amplification, customer engagement, and other non-concrete statistics to measure the success of each social campaign. How can you prove that your social media marketing is worth the money you are putting into it?
Social media sites make it easier for customers to get in touch with your company. The more you interact with and engage your audience, the more they’ll see your company as reliable, relatable, and someone they’d like to do business with.
In addition, interacting with customers on social media can give you new insights into how your fans behave and how you can reach more potential customers.
Using the paid advertisement options on social media sites can help you reach a specific audience that never would have known about your business before. The advertisements can be targeted by geography, interests, and a number of other factors. If your company has a strong brand voice, social media makes it easy to get it out there. Way out there.
Social media is a very useful and powerful marketing tool for any type of business, from small startup to corporate giant. While managing the social media page could take a bit of time and effort, the benefits will be well worth it. Eventually, your customer engagement and brand amplification will begin to convert prospects into paying customers.