How to Determine the ROI of Your Social Media Marketing Strategy

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Social media ROI comes down to having a strong understanding of what your goals are, what you plan to do, and what you’re looking to get out of it.

With more than 50 million businesses owning a Facebook Business Page and 94 percent of B2B organizations relying on LinkedIn for content marketing and distribution, it is clear that social media is continuing to grow.

With so many new businesses breaking into Social Media, it is no wonder they can often times feel overwhelmed and find it hard to determine the impact it is having for their business.

Social media ROI comes down to having a strong understanding of what your goals are, what you plan to do, and what you’re looking to get out of it.

Let’s review some key steps to building a social media strategy that results in definite ROI.

Social Media ROI Definition
ROI is getting a return. Obvious, right?

But when it comes down to how to calculate social media ROI, it isn’t just the result of revenue minus expenses.

ROI is value received in return of an investment.

The value you receive as a return on your social media marketing investment might include increased:

  • Customer lifetime value: Transactions — sales
  • Customer referral value: Referrals — leads, traffic
  • Customer influence value: Word of mouth — branding, reach
  • Customer knowledge value: Information — market research

You might be interested to know that engagement is the social media metric most important to respondents of Search Engine Journal’s 2017 state of digital survey. – Read more

The Rise of Social CRM and Why Your Business Needs It?

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It has taken a long while for Social Media to evolve as a marketing medium for businesses.

Though the B2B space has been slower to grow on this channel, many brands have started to make the most of it. Today, about 85% of B2B marketers use Social Media in one way or another, and they see results.

You may be one of that 85 %, however, are you leveraging social media to the extent you should? Also, are you doing it in the right manner? Social Media, today is a double-edged sword that can be highly rewarding as well as dangerous at the same time. More than 70% of your customers would expect a response from you within the hour, and if you do not, you will probably get an adverse reaction. Social media can beget real-time results but can be quite a minefield, tread carefully.

The way to tread carefully can get tedious, however, integrating your social media assets into a CRM [Customer Relationship Management] system can make it easier. This will not only help you avoid the pitfalls but also enable your business to address customer queries and service issues much faster. And finally, it will help you generate and nurture leads efficiently.

This is where Social CRM steps in. Keeping in mind the required best practices, let us see why you should use it and what benefits can it bring you.

  1. The visibility boost: Search engine optimization has always driven organic marketing and the keywords or key phrases have already debuted in social media. With social media entwined with search engines, it is to your advantage if can integrate those keywords or key phrases into your social media posts, videos or whatever kind of content you post. This is very important since customers need to find your business and the first place they would look at is the search engines.
  2. Influencer marketing: According to numerous studies, it has been found that over 90% of customers trust reviews and recommendations from other people before they make a buying decision. This is where the importance of influencer marketing comes to the fore. An influencer is someone who is an expert in your niche and has a great many followers on FaceBook, Twitter or LinkedIn. Through Social CRM you can keep a tab of influencer activity, and if you choose to engage with them, you can do it with ease. Being a part of their conversations is a very good idea and getting them to speak about your brand is even better. You will need to build a relationship with them slowly before you can engage them to your advantage.
  3. Internal Resources: The best way to get ahead with social media brand building and lead generation are to engage with your customers and offer them world-class service. So much so that they should turn into your brand advocates and speak about you on social media. Another method to gain traction on social media is to engage your employees and create social media accounts for them. They can use those to build your brand. OF course, having a social media manager onboard will go a long way in achieving these objectives using the Social CRM.
  4. Technology to the rescue: Using a Social CRM brings its advantages in terms of making it easier to respond on multiple social media platforms with immediacy. Honestly, all social media interfaces are built for individuals and not for businesses, therefore taking care of many accounts together can be slow and painful, not to mention the limitations that these social platforms come with. To mention, CRM’s are built on the foundation of analytical functions, and they can generate some insightful reports in no time which makes figuring out an effective strategy becomes much easier.
  5. Content is king: This has been reiterated time and again and content on social media needs to be spot on. Social media is a really fast draw, and one has to be on their toes to leverage the full potential. If you see an opportunity and don’t act on it, be sure that your competition has already swung it his way in no time. There is a lot going on – videos, events, freebies, offers, discounts, live feeds and many others wherein taking care of everything in real time can become challenging. A Social CRM can make your proactive on many such goings-on, and you can leverage your leads before they get hijacked.

The above are only some of the benefits that opting for a Social CRM can bring to your table. There are many others which you will realize with use. The world has gone social, and so did you. To stand up in the crowd, it is essential that you opt for a Social CRM. – Read More

 

Digital Marketing Versus Social Media: What’s the Difference?

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Digital takes the cake in the modern marketing world and social media is an important slice. But, they’re not entirely the same thing.

Digital marketing is a cool Generation X who knows the ropes of the internet and how to market your company in classic world wide web fashion. Social media is a more casual millennial, the product of the Gen Xer’s, who bucks against anything traditional and stays connected to the world 24-7.

You need both to spread your message effectively.

Let’s see how understanding ways the two intersect, and stand apart, benefit your business.

By the Book
Digital marketing is any brand messaging or advertising you do on the internet. It includes creating or managing:

Pay per click advertising
Your website
Email marketing
Digital campaigns
Digital ads
Digital branding
SEO
Plus all of social media

– Read more

 

 

 

 

 

– Read more

The Future of Digital Marketing in a Data-Privacy World

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Tougher regulations and rising distrust have companies scrambling to figure out how to create stronger ties with their customers

Companies have long collected data on consumers to determine what people want and who their potential customers might be.

But for anybody doing in business in Europe, how they go about collecting that data just got a lot more difficult. And corporate marketing departments are rushing to figure out what to do next. – Read more

 

Winning the social media marketing game

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Contributor Peter Minnium explains how connections are formed on social media, the purpose of these connections and how they can be leveraged to win the social media marketing game.

Thousands of years ago, clans gathered around fires to share their day’s experiences and to tell stories that established group norms and shaped social organization. Today, the fire’s embers have been replaced by the glow of internet-connected devices, but the communal exchange of stories and perspectives remains a fundamental force in social development.

From a business standpoint, a few important differences emerge from this evolution. Social media users can now publicly discuss their experiences with brands or products, forming large coalitions of interest that exert vast social pressure on brands and other organizations. From the presidential election to the newest cereal, everything is now a matter of public interest.

The essential principle, however, of shaping our world by sharing stories remains the same. The connections we build with others around us are the infrastructure of social change. Understanding how these connections are formed on social media, the purpose of these connections and how they can be leveraged is foundational to social media marketing. – Read

How to Get the Most Out of Your LinkedIn Advertisements

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Like many social media channels, LinkedIn can be an effective way to draw people’s attention to your business.

But the platform is notably different from advertising on Facebook or Instagram.

As Entrepreneur Network partner Eric Siu and a team member at Siu’s Single Grain company put it, one of the main benefits of advertising on LinkedIn is the B2B targeting. LinkedIn ads can include a regular link ad that shows up in the news feed and offers an image, headline and introductory text. The other option is a newer carousel ad that mimics Facebook in its square format. Two other sponsored ad formats are the lead gen form and the display placement ad, both of which have their respective benefits from creating less friction between customers to individualizing your marketing with direct messaging. – Read

How to Make Pinterest Work for Your Business Marketing

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Create a Winning Pinterest Business Marketing Strategy

If you haven’t visited Pinterest for a while it may be time to take another look — since 2010 this large platform has grown tremendously with over 200 million users today — 80 percent are engaging on mobile. Many consider Pinterest business marketing to be a part of their social media strategy. This is also a great place to build your brand and attract website subscribers in an age of constant changes in search.

According to Omnicore over 5 percent of referral traffic comes directly over from Pinterest. And that two-thirds of pins come from brands and consumer products. – Read

4 Ways Your Small Business Can Thrive Using Digital Marketing

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These four tips will help you lay the groundwork for an effective digital marketing strategy.

According to the latest census figures, there are more than 27.9 million small businesses operating nationwide. which provides nearly half of the private-sector employment. The census data also showed that small firms accounted for 64 percent of net new job creation between 1993 and 2011. It’s clear from these numbers that small businesses are the engine powering the American economy.

Today digital marketing acts as leveling force for small businesses around the world. When executed well, the right campaign can put even the tiniest business in front of the right buyers at exactly the right time. Now small businesses can compete directly with large firms, so long as they offer a quality product at a fair price.

How do small business owners lay the groundwork for an effective digital marketing strategy? – Read

Instagram Marketing 101: Using Hashtags, Stories, and More to Grow Your Business

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As far as social media marketing channels go, Instagram has been a major power player for a while. And that’s particularly true for ecommerce businesses who get access to a visual-focused platform with enthusiastic followers and high engagement.

In the past few years, Instagram has grown and evolved at a rate similar to Facebook, adopting new features at a lightning-fast rate and becoming even more valuable to merchants and users alike.

In this starter guide, we’ll outline all of the fundamentals for Instagram marketing, including how to optimize your profile, how to create high-engaging posts, how to get more results with both feed and Stories content, and how to evaluate your progress on the platform. – Read

Social Proof and the Business Case for Buying Fake Followers

Screenshot-2018-01-28-09.24.00.pngThe New York Times just published an explosive report called “The Follower Factory” detailing the black market for fake followers, likes, and comments. The reporters outed politicians, athletes, and even social media gurus who had bought followers from a company called Devumi. (The State of New York is now investigating this company).

Why would anybody buy fake followers? One simple reason. It works. – Read