Although social media marketing is swiftly gaining popularity, most people don’t know how to go about it. There are many things involved in a social media campaign to be successful.
Some industries are more favoured by social media
It is true that by marketing on social platforms almost any company can realize a positive ROI, but not all of them will succeed at the same pace. Some will excel faster while others will take time to gain traction and brand visibility.
For example, businesses that market to a group that uses social media heavily or those with interesting content topics and strong visuals will almost always outperform businesses in markets with customers that typically do not use social media.
Getting positive ROI can sometimes be harder
In the recent past, there has been a general slowdown in the organic reach a brand can achieve on social networks. Hence, this sometimes makes it harder for businesses to earn a return on investment for social media marketing that is positive.
Social media apps have negatively impacted the amount of visibility and awareness a brand or website page can get without paying. The reasons why they are doing this is because they want to drive the urge for paid advertising by ensuring that mainstream users don’t get a commercial experience when going through their newsfeed.
Businesses should take note that although paid ads may be necessary in the future, other less costly strategies such as buying likes and followers for Instagram, Facebook and other platforms can pay off.
Competitors may measure ROI differently
Is one of your competitors bragging about realizing a 350% return on their social marketing investment? Before you start doubting your own investment because your ROI isn’t nearly that high, ask yourself if it’s clear how they calculated that 350% ROI. Was it based on higher sales that they estimated came from new Instagram followers? Did they buy Instagram followers, observe an increased number of organic followers as a result of that purchase and just assume a proportion of sales could be attributed to new social followers?
What about costs? Are they factoring in the time spent by employees posting new content and engaging with Instagram followers? Calculating ROI is complicated and in many cases the number is self-reported with little transparency as to the underlying calculations. Don’t assume that your social marketing expenditure isn’t paying off based solely on a comparison against competitors’ ROIs.
It takes effort and time to succeed
With social media, you can’t be assured of starting off and witnessing an immediate increase in conversions or revenue. The business has to put in some effort and dedicate adequate time towards building their brand and gaining more followers on their Instagram or Facebook pages. They should do good research about their target market and understand their needs.
For example, a business that has invested on Instagram marketing can focus on engaging with their audience and being active on Instagram consistently in order to get real Instagram followers. They have to create time for crafting high-quality content and timing their posts adeptly.