Tag: Social Media Marketing

#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.


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.

#DevelopStrategy – Relationship Life Cycle

This month we covered the differences in both relationship marketing and lead generation. While both of these have a place in your marketing strategy, in this article I want to focus more on relationship marketing and what I like to call the Relationship Life Cycle.
As a refresher, relationship marketing is essentially fancy terminology for the practice of developing a long-term connection with your customers, clients, vendors and power partners. Instead of focusing on gathering a lead or closing a sale, the aim is to provide a bond with the people you work with. The long-term benefits of relationship marketing tend to be more referrals, client enthusiasm and the development of brand advocates.
The course of the relationship life cycle is closely tied to the ole marketing adage of Know, Like, Trust.  If the new way to market a company is backed by the idea that people do business with other people (instead of companies) then the know, like, trust concept is absolutely essential. Here is how the relationship life cycle would apply to your marketing strategy using social media:
Know
The first step in any relationship is getting to know the other person. You simply can’t make a connection with someone you’ve never met and know nothing about. Think of it like dating – once you start to know a potential suitor then your curiosity will lead you to finding out as much about them as possible.
Whether it be an introduction at a networking event, a discovery call, or a visit to your website – getting to the Know step involves getting to know each other. When it comes to social media, this appears in the form and following your various social media channels. People can also get to know you by hearing about you from others, meeting you at events, reading your online content, or viewing any media you’ve been featured in. Once someone starts to know you, and gets a sample of what you are about, then they are more likely to sign-up for your newsletters, like you on Facebook or follow you on YouTube.
Like
Well, now that you’ve gotten a chance to spend some time with the individual – you have to decide whether or not you like them. In our dating scenario, are they worth going out on a date or two with to see what develops? Do you like them enough to begin to participate in their life?
Those who are paying attention to what you are doing will either begin to like you or they won’t. However, once you hit the Like stage you will find that they begin to initiate some true social media engagement with you. They like your posts, comment in your group, or participate in your polls.  This phase of the relationship life cycle involves interaction so be sure to participate in return!
Trust
Now you’ve gone on many dates and have been seeing each other for a while. At this point, they are becoming a partner and you have developed trust in them. You like them so much, that you want your friends and family to like them too! At this point, you are sharing their content.
This is the end game for the relationship life cycle…you want all the people you do business with to know, like and trust you. The goal should be that they trust you so much that they freely, and happily, share your content and business with the other people in their circles.
When you compare the relationship life cycle to how we operate with our personal relationships, the success behind relationship marketing becomes much more apparent. Our clients become more than an invoice. If you want loyal clients that will regularly provide free marketing for you, this level of connection is the way to go. Just another tool to add to your marketing strategy toolbox because everyone here at The Social Media Advisorwants you to #BeAwesome at what you do!
~ 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.

#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.


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