So, yeah, I had a brilliant thought, that I was kind enough to share with all of my Facebook friends. Several hours later, no one seemed to appreciate my brilliance or my altruism. Then my marketing curiosity kicked in and I posted a ridiculous picture of my 5-year-old and me posing with our orange-peel smiles. Kaboom!!! My notifications bar exploded. My awesome thought received no attention. The silly picture of my kid received lots of attention. My random rant on a crappy day will earn me one compassionate “like”, while my filtered Instagram picture of my latest cooking endeavor will result in several new followers. You get the idea. There’s a pattern here.
Do I care about social media ROI as a private user? No. Do I get a warm, fuzzy, and satisfactory feeling every time I receive a digital holler? Heck, yes! That’s why I maintain persistence.
Would I have the luxury to experiment on social media if my business were at stake? I don’t think so! Social media is a proven powerful marketing tool that requires constant engagement and should not be neglected. This is where some of the biggest challenges begin. How do we measure social media ROI and allocate budget for it?
Elissa Nauful, founder and President of BallywhoSocial, suggests that everyone should measure ROI differently, based on business goals. Relying simply on likes and shares can limit the depth of knowledge about your social audience. Social metrics are constantly evolving. The new revenue models for many platforms mean that many marketers can now target and measure like never before. The key is to understand what you are measuring and the business goal behind that measurement.
As a company, don’t ask what platform you should use, as there is no magic formula that matches a certain type of industry to certain platforms. Rather, determine what you want social to do for you and how it combines with your larger marketing strategy. Only then can you determine how to channel the content. For instance, according to BallywhoSocial.com, if you know your target demographics, you would like to know that Twitter and Instagram users are typically 20-somethings and teens living in urban environments. Pinterest users, however, tend to be rural-area females who are slightly older than those on Twitter and Instagram. Pinterest is often touted as one of the most effective sites to drive sales and link traffic. However, it doesn’t always serve companies well in creating brand awareness.
The information you need about social media is out there, but it requires primary and secondary research. Way too many businesses opt to bypass this task. In order to be successful in the fast-changing environment of social media, do your homework and do it regularly.
About the Author:
In 2006 Fany landed in Florida straight from Bulgaria and brought with her two Bachelor’s degrees – Broadcast Journalism and Film Production. With such diverse, yet related academic background, she decided the right thing to do was to get a Master’s degree in “something similar”. So, she graduated from the University of South Florida with her Master’s in Strategic Communications. Currently, Fany is a Production Assistant at AVI-SPL Creative Show Services and is constantly on a quest for learning and gaining professional knowledge to establish herself in the field of Communications.