Social media marketing
Social media marketing
Companies that seek to use social media marketing and platforms as a solution rather than a tool to build return on investment are usually never successful so is it that social media marketing is only about creating awareness and recognition for brands. I tend to disagree with this Starbucks is one of those many brands that uses social media marketing to create engagement and health builds a lot of return on investment
By doing so they use both internal and external stakeholders and engage with them with very creative social media marketing campaigns and at each stage monitor their successes to ensure that they continuously grow on online channels this creates a lot of engagement that then converts into business for Starbucks in doing so this is how they create good return on investment using social media marketing in this video let’s talk about what are some of the building blocks of SMM ry and of course how you can use SMM to build good return on investment for your brand to begin with ROI or return on investment is used as a financial parameter generally
But in the case of social media marketing itis important to understand where return on investment comes from this comes from a very simple understanding of business where we say that you wouldn’t invest something if you don’t get something in return hence we distinguish the words spending money rather than investing money in social media marketing we usually end up spending a lot of time energy and resources but instead of this what if we were to invest time energy and resources so that we could actually gain something in return the positive or negative returns that the brand gains for the amount of money time and resources invested is what social media marketing ROI is built on and these are integral
A lot of companies believe that it is not necessary to spend money on social media or that it is integral to spend a lot of money on social media but neither are true just like in any business they are quite a few things that you need to invest in for social media marketing to be successful to begin with create very clear precise and measurable goals that align with the brands and the businesses goals have often noticed that social media marketing has very different goals and objectives in relation to what the brand plans to do this creates a lot of confusion amongst the brand’s stakeholders and community members and ultimately can dilute the positioning of your brand to build social media marketing ROI we also need to build a flexible and evolving framework for community engagement this ensures that we are constantly in line with the community’s needs and understand what it is that they require.
This will help guide our business to engaging with the community a lot better and does deriving immense ROI from it. We also need to understand where impact for the business and for social media marketing campaigns comes from we’ll have to look at the factors that impact the brand positively or negatively both in online and offline media and in doing so we need to be flexible enough to be able to turn this around so quickly that it actually helps capitalize on the different opportunities and counter different threats thereby leading to the growth of ROI we must also conduct thorough ongoing research on community behavior and of course look at the different ways that the community engages with the brand in order to understand where we can bring the brand a lot closer to the community
We should also prioritize community engagement and communication based on impact and of course the response that is sought from the community this also ensures that the brand gets a lot closer to the community and the closer the brand gets of course the faster the chances of improving our ROI let’s also look at building simple strategy that addresses overall goals of the business rather than confusing marketing goals business goals and then social media marketing goals brands that are very successful usually have all these three in one line and are thus able to create a lot of engagement and social media marketing ROI being flexible is extremely important and the strategy that you choose to use should essentially be flexible and respond to external impact in social media marketing and in business
this is what is termed as being both proactive and reactive we need to watch out for various opportunities and threats and proactively counter these or take advantage of them and of course anything that we have not been able to see needs to be reacted to in such a way that we don’t dilute the proposition of the brand but at the same time we also take great advantage of what is being presented in front of us we need to continuously monitor response and the achievement of goals and objectives this helps us stay in line and in doing so it actually helps us understand what adjustments need to be made in order to build ROI so let’s look at some business areas that are very useful for using social media management
I myself working with some of my clients have used these areas and we’ve actually managed to build a lot of return on investment for them the first is where we improve networking and engagement opportunities with both internal and external stakeholders of the brand by using employees suppliers dealers distributors retailers we are actually able to create better and better networks and of course by engaging all these people internally we come up with some great content that we also are able to use for external stakeholders such as consumers the other area we use social media marketing and which helps us build a lot of return on investment is where we look at gathering intelligence through information and feedback
consumers and internal stakeholders are more than willing to provide feedback on products and services and this can be really great for the business we then seek to understand consumer segments a lot better derive insights and build intelligence that leads us to serve these communities a lot better and that helps us generate a lot of return on investment we are also able to positively manage relationships and even in the case where we have a lot of complaints it’s easier and more honest to actually address these kind of complaints through social media marketing which has a huge impact on the rest of the community and the relationship with the brand
we also promote using feasible cost effective channels and this is one place where social media marketing really scores above all other channels social media marketing essentially helps us take far more intelligent business decisions because of the different things that we’ve just spoken about and in doing so it differentiates us from our competitors and gives us an edge in the market using all the points we’ve discussed just now we are also able to create a lot of ROI through increase sales the reason for this is because we never started out by focusing on sales instead of that we started out by improving networking and engagement opportunities and that’s what has led us to increasing our sales so our focus when using social media marketing should be always to build return on investment and we consider investment as not just the finances but also the time energy and resources that we invest into social media marketing
so the key points that we discussed here are what are some of the building blocks of social media marketing ROI and how can they be helpful to our brand we also talked about the different business areas where social media marketing has been very helpful for my clients but can also be very useful for you.