We’ve all seen posts and videos go viral on social media and make their owners thousands or in some cases, even millions. But, how does the return on investment of the web hold up for small, every day Seattle businesses who often have considerably less to spend on promotion and marketing. If you’re wondering whether Social Media Marketing even has an ROI, then you’ve probably never had a professionally managed social campaign. There are dozens of ways to make money off of social, but most small businesses just end up spending and sometimes wasting time on their social media. However, Social ROI does exist.
How Does Social ROI Work?
Social ROI, or return on investment, mostly results from sales generated through your social campaign. For the most part, this means that you have to use analytics and tracking to ascertain where you’re sales are coming from, how many click-through’s are coming through from your pages, and how many of those clicks are turning into sales. The easiest way to generate social revenue on a page with a lot of active followers is to post a discount code. When people use the discount code, you earn social revenue. For example, a restaurant shares an offer on their page where social users can show a coupon on their phone, or print it out, and come in to get free drinks. So, for example, if13 people come in with the coupon, you’ve generated 13 sales, even at a discount. If you offer a bring a friend or a referral discount, you can generate new customers. For example, if you offer a 30% discount to new likes to the page, new followers on Twitter, or to new email subscribers, you can create social revenue from entirely new customers who have never been to your business before. If you have a website with online items, driving sales becomes even easier, because you can build up a fan base who expect to see sales, promotions, and items that they want to buy.
How Do You Get There?
If you have a social media page of any kind then you know that there’s a big difference between ‘social ROI’ and getting there. Managing and growing a page is a lot of work, especially if you don’t know what you’re doing. The trick is to be consistent, offer valuable information on your page in addition to sales and promotions, answer questions and be helpful, and add in a little interest through memes or photos. Growing a customer base organically isn’t always easy, but you can also direct old customers there and encourage them to post on your wall or leave a review, which means that others will see you.
Seattle’s social media managers have been creating a visible profit for local businesses for years, and there’s no reason why you can’t see the same benefits. Hiring a professional social management company gets you the benefit of a properly managed social channel, so that you can experience as much ROI as possible. If you want to know more about having a professional social media manager help your business, contact us today to discuss your needs, or your goals.