Social media is one of the best marketing communication tools to ever happen. It is free and allows businesses and individuals to communicate with a global audience. It allows you to engage with customers in real time, 24 hours a day, 7 days a week, 365 days of the year, from anywhere in the world.
This blog will look at the real costs associated with managing social media from a business perspective.
I was talking to a local fudge maker a few months ago about her digital marketing activities and how social media has helped her kitchen business grow into a successful confectionery retail outlet. But something that has stuck with me was that she said that she spends a lot of time on social media websites, she knew that it was paying off but didn’t know how much directly influenced her business and cash flow.
Let me point out the phrases ‘Spend time’ and if it is ‘paying off‘. Time, to any business means money, especially to an SME with less resources. It is important to know if this time is generating benefits to the business.
So I thought it was time to talk about businesses managing their social media accounts- the steps any savvy business owner should take after setting up their social media accounts, gaining followers and ensuring regular activity…
Conversion rate optimisation in digital terms means, is the message you are sending to people resulting in actions? For example, are the tweets your sending out resulting in more hits to your website, more online forms being filled in or more people getting to your shopping cart on any ecommerce website? If your social media activity doesn’t have a key purpose (such as more hits to your website), it is difficult to strategically write social media content and measure conversion rates. Try it this week- set a goal and mould your social media content to attract followers to this- see what works, what doesn’t. This will also give you an insight to the behaviours of your followers.
Measuring analytics on your social media can also give you details about how many people follow you, the trends associated with your accounts and how many people click on the links within your content. This can help for return on investment.
For more information, I found this great post: http://www.forbes.com/sites/capitalonespark/2013/04/25/how-to-measure-your-social-media-return-on-investment/
Let me know how you get on!!