What is the ROI of Social Media?
Have you ever asked the following question: What is the ROI of Social Media marketing? If you haven't carved out a budget for social media marketing or started to create your own content for you business, you've most likely been waiting for an answer to that question. More importantly, you should be asking, where are the customers that I want to attract to my business?
When you answer that question, you realize that you should be "all in" on social media. This doesn't mean that you need to give up any of the traditional forms of advertising that you may already be doing for your business. However, each quarter of business it is important to evaluate which campaigns are creating the most business for you.
One of the reasons Social Media is such an effective way to market your business, is due to the analytics and real time feedback you receive from the platforms. Take Facebook for example - Facebook has over 2 Billion active users worldwide.
The average teen spends up to 9 hours of their day on, you guessed it, social media.
Each piece of content that is posted on the platform not only helps the SEO for your business, you can also see an instant ROI. For each post that you create, video, photo or text Facebook with share with you the results of its effectiveness, including how many people viewed the post and engaged with it (commented, liked, shared, etc.).
With that being said, it's difficult to evaluate every post by whether or not you generated a sale. A rule of thumb on social media posting for business is, "Jab, Jab, Jab, Right Hook." In other words, every post should NOT be a sales pitch. Treat each post and your strategy around building a LONG TERM relationship with those that follow you. This patience will pay off in the long run.
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