11 Proven strategy for Driving Social Media ROI

11-proven-strategy-for-driving-social-media-roi-featured-image

Did you know that Social Media posts are able to generate significant revenue for your Digital Marketing Strategy? But it is not true for everyone. The ones who lay out a proper plan and know the ways to maximize the returns on the investment can succeed.  

According to a report by Statista, “In 2023, there are estimated to be 4.89 billion total social media users worldwide.” Isn’t it amazing that you get a social window where you can tell the story of your brand to the world? 

Social media platforms allow you as a company to interact and engage with your potential customers. With this channel you can create brand awareness among your viewers. But what it does is that it serves as a channel for you to go out and put your product for people to see and Buy.

What is a Social Media ROI?

Social Media ROI is a metric that shows the revenue gain from social media investment. It is usually measured in terms of Monetary value. But it can also be measured in terms of non-monetary values.
For Example-  Suppose, you are running a paid social media campaign to create brand awareness. Here the value is measured on the basis of Likes, Follower counts, impressions, etc.

It is the goal of a business that should decide the metric for social media ROI.

Simple to follow steps for maximizing Social Media ROI

Let us Discuss some of the key strategies that you can apply to gain maximum return from your Social Media Campaign.

Landing pages: 

Social media posts are such an important aspect of digital marketing to hook your customers to your products. But have you thought about what comes after this? Maybe your potential customer wants to know more about your product. In this case, what you can do as a company is you can make your potential customer land on a page that walks them through your product in a jiffy. For this, a Landing Page can serve as the best option for the Companies. Companies should make sure that their links to the landing page are working properly and also the design is interactive to the user.

social-media-roi-measuring-your-success

Videos & Images:

Adding Videos or Images to your social media posts can do wonders for your company. How? Well, users tend to scroll through social media posts in the blink of an eye. So It becomes very crucial for the companies to convey the idea of the product in a very short time. This can be done with the help of beautiful Images such as Flow charts or Infographics to your posts, making it easier for the user to understand. You can also add Videos to engage and inspire your potential customers to take action. We can say the length of videos should be optimal as the time that the visitor spends watching the video increases the chances for conversions

Measure Social Media ROI:

This one right here is the most important factor when it comes to Social media ROI. Why? Because you can not make any important changes or corrections if you do not know how your campaign is working. For this, you must be aware of the goals of your company. For Example, If you as a company have a goal of reaching a wide base of audience, you should look out for:

  • Your Follower Counts
  • Impressions
  • Mentions and Shares
  • Comment on your Social Media Posts

unlock-power-of-social-media-roi-with-a-landing-page

High Quality Content:

Most social media posts are on the lookout to convert or to create brand awareness, but they get this part wrong. The content of your social media post should not only compliment your product but also convey the personality of your product. You, as a company, should first find the intent of the search query of your users. After that, you should frame content that addresses the very need of your visitors. Content should be the one that has the power to resonate among the visitors. Be it social media posts or Blogs Content; it should give what the customers are looking for.

Consistency:

Many Companies do not realize this, but Consistency plays a key role in your social media campaign success. Imagine you have checked all the boxes required to make your social media campaign a hit. You are also able to generate an interest in the mind of your customer. But you do not post regularly, which can cost you dearly with your social media campaign. Let us understand this with an example, Assume that you have got yourself a curious customer who is regular to your social media post. He got interested in one of your products that he wants to buy. But when he visited your website to take action, he found out that the product was out of stock. Now here, if the company misses out on posting regularly, it will lose on a sale opportunity.

Leveraging Influencers:

Roping in Influencers for your social media campaign is a brilliant idea. Why? Because you will be able to target a new base of customers that are loyal and follow their influencers. This opens a new door of opportunity for you as a company to convert them to your raving fans too. You might have subscribed to your favourite social media influencer on, let’s say, Instagram. Here you might have noticed at least once advertising a product. It is nothing but a strategy of a social media campaign to tap into a newer audience for your products. By doing so, Influencers get a commission of the purchase from their social media post whenever someone buys from their link.

Affiliate Marketing:

It is almost the same as marketing through Influencers. But where it differs is that affiliate marketing can be done by anyone. No matter how small your followers are on different social media platforms. You can post on social media with an affiliate link. This has become a win-win situation for both the company and the person providing affiliate links.

Discount and Coupons as a Form of Brand Loyalty:

Who doesn’t like a little saving every shopping? Every customer wants to get treated well by the brands they love or the platform they shop on. Giving discounts or coupons to the customers who have done shopping with you for the first time will compel them to visit you again. This inspires a feeling of loyalty in the customers which in turn can make them your true customers. Make sure that your discount messages are reaching your target customers and are delivered with a sense of urgency for your customer to take action..

Investing in Social Media ads:

Investing in social media ads can help you increase the visibility of your product among the people looking out for the same product. This is a fast method to put your product on the map of online shopping. You can target platforms like:

  • Facebook Ads
  • Instagram Ads
  • Linkedin Ads
  • Twitter Ads

Here you can target Twitter or Linkedin Ads if you are targeting business class audiences to promote your Products.

Monitoring your Competitors:

Keeping a lookout for your competitors can give you ideas about what clicked for them and what didn’t. And this might help you too. Analyzing your competitors can help you with the ways how you can approach different social media channels to your success. To do this, you need to find out the top 3 websites that are in the same niche as yours. This is a basic but proven strategy that has done wonders for many.

Clear and actionable CTA:

CTA is a powerful tool for businesses to make their customers take action. By creating a sense of urgency in your social media post, you can make your customers wonder why the product is in such demand. It can be done by showing a CTA with Time or Product Scarcity. For Example, Only 2 left in stock.

Final Words!!

Social media is important for businesses today. They need to use effective strategies to get the best returns from it. The eleven strategies we discussed can help businesses to get more out of social media. By applying these strategies, businesses can achieve great success with social media.

Other than following these steps for improving the ROI from Social Media, the best that you can do is to check out our post  Top Ecommerce Strategies To Optimize Online Sales.

Talk To Expert