Fix Social Media ROI Easily

Not surprising that ROI was the number 1 concern for Marketers (Source: The State of Social Marketing 2017 Annual Report)

Top 3 Challenges Facing Social Marketers in 2017:

  1. Measuring ROI was listed as the biggest challenge.
  2. Tying Social to Business Goals
  3. Securing Budget and Resources for Social

Why do Social Marketers struggle with Social Media ROI?

A typical problem statement Social Media Marketers deal with is trying to figure out how to effectively engage their audiences.

Engaging audiences on Social media requires one to be abreast of the latest and greatest happening in Social Media Networks.

Each of the Social Media Networks keep evolving.

Whether it’s Facebook, Instagram, Snapchat – the one thing common amongst all these social networks is that they keep changing and adapting to users requirements.

Organic engagement on FB is literally dead. So you need to think of new ways to engage your audiences.

A lot of social marketers are finding video content to be more engaging on FB, some are experimenting with private groups.

This list goes on.

The quest for engaging their audiences is never ending.

Social Media Metrics?

However, social media engagement metrics are very different from business metrics.

On Social Media you might track share of voice, measured as the likes, comments, and shares of your posts. However, this is meaningless from a business perspective.

The solution to social media ROI?

You need to really examine the word ROI for the solution.

Return On Investment – by definition it means the amount of return you’ve got in monetary terms on the investment made.

In short how much money has your Social Media investment made for your business.

If this has you stumped you’re in the right place, as now you’ve understood the key problem.

In order to solve the problem of Social Media ROI, you need to be able to show that the investment you’ve made in your Social Media program has generated a tangible monetary return.

Another way to look at Social Media ROI

There is another way to look at it as well.

It’s either making you money or it’s saving you money in some way, that’s also another way to justify the ROI.

So if x was the amount of money you spent on engaging or reaching new customers and x-100 is what it costs you now via Social Media that’s a cost saving and hence is a valid way to show a return on your investment.

Breathe. Seriously. That could have been a lot, or not for you.

Breathe again, I’m having to do that while I type this out myself.

More easy guidance…

I know some of you might need a little more guidance on this.

I’m putting TOGETHER a quick guide on how to do this.

It’s going to be an absolute breeze to go through. It has just three steps.

What the guide will will help you with is:

  • How to Measure the ROI of your Social Media
  • How to tie social to business goals
  • How to secure budget and resources for Social 

Sound Interesting? If Yes, GIVE it to yourself NOW 🙂

Option 1: Pre-book TOGETHER $29 Report and Worksheet

Option 2: Pre-book TOGETHER $32 Report and Worksheet AND FREE 1-1 call with me for 30 minutes (worth $100)

 


Have any queries post them below.

Report: Customer Experience to Business Strategy

Interesting new report by Altimeter group on Customer Experience.

I’ve extracted a finding which is super relevant to any business:

“When it comes to experience, customers want relevance and speed, not delight.” The most important elements of an ideal customer experience are fast responses to questions/complaints and the ability to find information quickly.

The 2nd part highlighted here “fast responses to questions/complaints and the ability to find information quickly.” seems so logical. However, so many companies make it so difficult.

My reason for writing this post, here it is…

Firstly the report is interesting, do read it.

Second, this gives insight into a stream of content which you need to create for your customers. They want “the ability to find information quickly

How are you making it easy for them? (My reason for this post, something we all need to think about)

The traditional way was to create a FAQ…

However, most FAQ’s though necessary are just plain boring to read, so people made multiple formats. Infographics, Animatied Gif’s  or How to Videos, or doing FB Live sessions etc.

That seemed to work, however, as the volume of information increases Searching for that information and making it available even more quickly becomes key.

Sometimes the simplest, is making available a person who maintains the customer relationship and become the source of all answers.

That person is responsible for going through the myriad layers of information within the organization and finding that information.

Othertimes, it might mean enabling the customer via technology to serve themselves, by providing them the ability to search for the information required on your portal.

Another, extremely powerful way is to enable customers to become the source of information (Brand Advocates).

All of the above could be ways in which you enable “fast responses to questions/complaints and the ability to find information quickly.

What’s worked for you? Do share below.

Below is Altimeter’s 4 steps to build a next generation experience strategy.

BUILD A NEXT GENERATION EXPERIENCE STRATEGY WITH FOUR KEY STEPS

 

Facebook Advertising

Should you explore it? What’s involved, what should your strategy be?

Facebook Advertising

A friend of mine invited me over to chew my brains…

My advice was simple…  “There is no silver bullet, try it out.
The results from this platform is not going to be the same for each brand. The good thing is that it allows you to experiment extremely cheaply.”

Yep that’s it…

 

You want more?

Get a cup of coffee or tea.

Here are 3 articles which will help you undertand this more:

  1. https://themission.co/gary-vaynerchuk-says-you-should-go-all-in-on-this-social-media-tactic-1023f4b63f72
  2. https://doubleyourfreelancing.com/how-to-get-new-clients-with-facebook-ads/
  3. https://copyhackers.com/2017/05/36-facebook-ad-hacks/

Read it? Share your thoughts, comments and questions below.

Marketing your brand on Digital Platforms

Digital marketing can be confusing. Here’s a simple way to look at it in terms of your business.

Digital changes marketing by enhancing it in ways, which were not possible earlier.

The 3 pillars of marketing don’t change.

I recently spoke on an FB Live session for Welingkar Institute.


If you’d like a copy of an infographic I’ve created summarizing the content of the video do tweet me at https://twitter.com/sanjayshetty

How to get new clients?

I saw this question posted on Reddit (Question: Any tips on getting new clients? ), and thought my response could be useful to more people as a blog post, so here goes.

Find their watering holes and showcase yourself there

watering-holesIf you know who your potential clients are, the best way to attract them is to go where they frequent.

FREE Report: 6 WAYS TO FIND YOUR AUDIENCES WATERING HOLES

When I used to do technology consulting, I found the maximum new clients by going where they go – “Technology Conferences”.

I would often speak at technology conferences or technology community events.

Invariably, after my session I’d be interacting with people who had questions about the topic I spoke on or about further advanced topics.

We exchanged business cards with each other and provided each other a means to connect. (This is important enabling each other to connect)

In fact quite often they wanted a copy of the presentation(this hook’s them to you) and would share their business cards with me after the presentation so that I would share the presentation with them. (Enabling this exchange is critical!)

Regularly speaking at these conference helped increase my credibility and enabled me to reach out to a lot of potential new clients at the same time.

But then came the Internet and a very costly lesson

I kind of replicated online what I did in the real world. I recorded a video on social media and communities and their impact on corporate communication and distributed it on YouTube.

It had thousands of people viewing it. BUT…

I didn’t enable them to share their contact data with me. I didn’t give them a reason.

Obviously people could like and share the video and even comment on the video. There was also a link to my blog in the video and in the description. I just didn’t tell them what they’d get.

What could I give? (VALUE: The Hook is important) Even something as simple as –

valueexchangeSign up here to get a powerpoint presentation of this video for quick reference (and get notified when I create such new content) would have been something of value to quite a few.

It would have encouraged them to exchange their contact information with me. It seems logical now.

However, at that time all I gave them was a lame – Read more at my blog…

Action Steps to Get New Clients

  1. Find their watering holes, i.e. places where they hang out,
  2. Showcase yourself there and
  3. Most important give them a reason(VALUE) to give their contact information to you. Give them something they’d consider valuable, in exchange for their contact information.
  4. Download NOW

    FREE Report: 6 WAYS TO FIND YOUR AUDIENCES WATERING HOLES

References: The video I had created was about “How community and social media changed corporate communication” – and it has 14600+ views as on today 🙂

Get and Retain More Customers with Low or Shrinking Budgets – via Brand Advocates | Using Digital, Social Media, Communities, Technology and Visual Thinking