#DevelopStrategy – Return on Investment in Social Media



As part of our series on Developing Your Marketing Strategy (#DevelopStrategy), we’re covering how to receive a Return on Investment (ROI) in social media.

Unlike a cost-benefit analysis, an ROI cannot be estimated beforehand. This is extremely important to understand when you develop your strategy. Also, ROI is difficult to measure without an investment in advertising since paid ads usually give a considerable amount of analytics, but don’t worry, we’ve got you covered.

The first step in developing your ROI marketing strategy involves setting goals for your social media. These goals will need to align with your mission statement. The primary goal needs to state what you hope to accomplish. Beneath that is a set of smaller goals that align with the primary.

Let’s say your primary goal is to build your mailing list full of loyal fans who are excited about your products/services.

Your smaller goals must be S.M.A.R.T. goals: Specific, Measurable, Attainable, Relevant, and Time Bound. I like to keep the scope to no more than three smaller goals since your marketing strategy will develop from this. For this article, we’ll create one example: increase social media conversion by 10% in the third quarter.

Note: You can give specific numbers. Gain 10k followers by x date, for instance. These goals are unique to your business model. 

It’s time to develop your strategy. For our 10% social media conversion increase example, we’re going to have a three-pronged attack. 

1. Create a lead magnet. This can be as simple as a discount coupon or as complicated as generating a comprehensive ebook to help your potential clients/customers deal with a real-world problem. 

2. Create buzz using a hashtag campaign that our influencers will be willing to share and participate in. 

3. Share theme-related content on all social media channels that generates buzz for new product or service.


Keep in mind that your strategy may need to be adjusted based on your business and goals.

Now that you have a primary goal, a set of smaller S.M.A.R.T goals and a marketing strategy in place, you’ll need to track your conversions (ROI). You do this through Reach, Traffic, Leads, Customers, and Conversion Rates. Reach includes fans, likes, followers, etc. that you have. The more reach you have, the greater your conversion rates, and is usually trackable inside the social media platform.

Traffic to your site or other URL mentioned in your campaign is another great way to measure ROI. Leads are the number of sign ups you gain through this campaign. Customers are the number of individuals who actually convert from potential to become paying clients. Conversion rates involve tracking the percentage of visitors based on social media platform or promotion campaigns. This tells you which part of your campaign is working and which isn’t.

It’s true that it can be difficult to track ROI when it comes to social media but not impossible. Most of the social media platforms have their own analytics tracking system that will deliver valuable information on what is and isn’t working for you with social.

Take time to develop a winning strategy, keep track of your metrics, and be willing to adapt. These are the keystones to a quality ROI. If you need help working on your social media marketing strategy, the team here at The Social Media Advisor is here for you. Our goal, as always, is to help you #BeAwesome as a business.


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Hollie Clere of The Social Media Advisor is a “#BeAwesome” Developer, Social Media, Brand Builder, Content Manager, Trainer and Author in LinkedInFacebookTwitterBlogGoogle+,YouTubePinterestInstagram and the tools to manage them.

#Develop Strategy – Why Strategy in Your Marketing is Important

When you are running a small business it can be difficult to maintain all the different facets of running a successful company. Owners need to manage the work, the clients, the numbers, the team, and the marketing. It can be both daunting and overwhelming. Many entrepreneurs and business owners simply overlook marketing due to a lack of time, energy or experience. However, business growth is dependent on your marketing strategy. 
Business Plan
First, you need to have a plan. The more detailed your plan the easier it will be to set measurable and achievable goals. Your plan should incorporate what you intend to do during the year – the amount of work, the level of profit, staffing, expenses, purpose and messaging. Leave no rock uncovered when you sit down and develop your plan. This will include your marketing strategy for the year. 
Branding & Storytelling
What a lot of business owners don’t understand about their brand is that it exists whether you develop it or not. How the public views you, and your company, makes up the elements of your branding. Owners that ignore this fact will find that the public has 100% control over how their work is perceived. Smart companies understand the power of creating a business message – a method of storytelling for work – that projects the image that business owners want their staff, clients, competition and the general public to associate with their work. Understanding your own brand and company story is the first step in developing a marketing strategy.
Target Audience
We no longer live in an age where we market our services to everyone. Traditional advertising is slowly becoming a marketing tool of the past. Why? Because it is ineffective to sell to a wide group of people without narrowing down the demographics. Want an effective marketing strategy? You need to hone down exactly the type of people that make your ideal client. The time and effort involved in sales and marketing should be utilized only in areas where your target audience works, plays and relaxes. If you don’t have a picture of your ideal client, then you need one right away.
Types of Marketing
Now that you know your message and where your clients hang out, you need to determine the types of marketing that will be most effective for what you do. This will be different for every business. The variety of marketing options feels endless. This list alone will have your head swimming. 
In 2016, online marketing is the place to be. This means social media marketing and content marketing are huge right now. Building a mailing list (or funnel) is another area that many marketing experts say is essential for your business. Developing content and booking stages is a type of marketing as well, called influencer marketing, and can be quite effective for establishing expertise and presence. Relationship marketing is a great way to build a village of partners that are invested in you and what you do. 
This article showcases a study that proves the younger generation does utilize social media when it’s time to make purchasing decisions. Another reason that demonstrates how knowing your audience is vital. 
Marketing Plan
Having an editorial schedule with goals and focus for your content, messaging and social media is practically essential.  If you are not certain which direction to take, do some initial experimentation. For instance, you can concentrate on one type of content or platform each month, while maintaining your other marketing channels.  If you switch it up and continue focusing on different platforms over a 3-6 month period, you can see which platforms are doing the best for you and get a better understanding of each option. 

If you know one choice will work well for your business, focus your energies on developing that area first and then slowly begin incorporating other channels. Often it’s better to do one thing well than to do a variety of marketing tactics on a sub-par level.
Networking
Networking is another way to grow your circle of connections.  You can do this both on- and offline.  Recommendations back and forth are extremely beneficial.  You can also reach out to your network if you have questions about how to get the most out of your marketing, social media platforms, content and emails.  You might have a connection who is masterful in a certain aspect of marketing you are you’re interested in.  You and your connection might work in the same industry, but have different niches.  If you both have blogs, you can refer to each other in your content. This is a great way to develop both referral and power partners for your business, not just new clients!
The best advice is to have fun!  Think of your marketing strategy as an adventure.  You will learn so much about how you want your business to look, feel and present itself to the world. 

Having trouble creating your company’s story? Don’t have a clue how to put together an editorial calendar? Just don’t have time to deal with all the little tasks involved with staying on top of your marketing strategy? Give the team at The Social Media Advisor a call – we specialize in small business marketing strategy development!

~ Social Media is changing the way people do business.  Don’t get left behind ~ 


Be sure to Follow us and Let’s Engage!

Hollie Clere of The Social Media Advisor is a “#BeAwesome” Developer, Social Media Brand Builder, Content Manager, Trainer and Author in LinkedInFacebookTwitterBlogGoogle+,YouTubePinterestInstagram and the tools to manage them.

Are you looking for Social Media Speakers in 2016 for your Groups or Teams?



Are you interested in hosting a Social Media Speaker for 2016? We would love to meet your group and discuss top online marketing trends of 2016!

Can you relate to any of the following questions?

?         We want to know … what are the latest trends for social media marketing for 2016?
?         How do we incorporate a relationship and retention building strategy with our clients in social media?
?         What are tools we can incorporate today to help build the “Like, Know, Trust” with our customers TODAY?
 This presentation is an ideal fit for your business and the people in our group!
Telling an effective story in your brand will make or break your online presence. 
  
In our research, 9 out of 10 Corporate Profiles in social media are not enriched with anything relevant to their brand, their potential clients or their ideal target market. 
  
Anyone can build a Social Media Profile Page, but do they know how to build them correctly?

This talk will discuss the importance of a story in your marketing, the key components social platforms utilize to make your brand searchable and tools to establish your true “voice” which will guide your brand on the journey of building a solid foundation for a successful social media relationship with your audience. Launching these principles into your business will immediately improve your credibility with your customers by building a long standing relationship with your clients so your competition isn’t claiming them from you. 

  
Workshop Take-aways:  
  
?         Your Story Matters: Defining the social media algorithms and how they can help or hurt your brand  Content is KING! 
?         Discussing the proper ways to integrate the power of native video, branded images and keyword rich storytelling into your online brand  
?         Tools of the Trade: Top tools for creating and scheduling content, monitoring engagement, and processes to keep you on top of your marketing funnel. 
  
Let us know if this workshop would be of benefit to your business, networking group, mastermind, business development or sales teams.

#BeAwesome In Storytelling For Your Brand

Your Trainer: Hollie Clere at: https://www.linkedin.com/in/clerecomm

  
Contact Information: 
303-847-7070 

Learn how to use social media to grow your business online with our video series!

  • Learn the fundamentals of social media
  • Learn how to build better brand engagement
  • Learn how to enhance your visitors' experience
  • Learn how to grow your business using social media strategies.

If you want someone to break down aspects of social media to get more clients and build your business using social media, this is the program for you.


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