Social media platforms have become a ubiquitous aspect of how businesses reach potential customers and engage with their existing customers. Maximizing your social media ROI can mean that social media platforms become one of the most efficient ways to grow your business. As you look at building a successful social media campaign, either to interact with your existing customers or to reach new potential customers, it is important to employ processes that are both effective and efficient.
Working with influencers to attract and retain customers
Many individuals will turn to influencers when they are considering which products or services to use. An easy way for your business to approach your social media campaign in a new and unique way is to consider working with influencers. By working with an established influencer who has a following in the market within which your business operates, you will be opening the door to reaching additional potential customers.
The investment your business will need to make to work with an influencer may seem daunting. However, many influencers are willing to record videos or post on social media if provided with a free product to test and review. Consequently, depending on the service or product your company wants to offer through an influencer on social media, the return on providing that product or service to one individual will potentially be extensive.
As more social media platforms become outlets for influencers to reach their target audience, it makes sense for businesses that want to make the most of their social media spending to consider working with influencers. The cost of doing so can be as small as a single product shipped to the influencer, which is of little consequence when compared to reaching a multitude of potential customers with someone they already follow and listen to serving as your mouthpiece on social media.
Retaining existing customers
Once you have customers, whether they are new or returning over time, it is important to be able to keep them coming back to your business. Using an influencer on social media can help you present new products and services to your customers without the need to develop an entirely new campaign. With an established relationship with an influencer, you can make the most of their interaction with their followers on social media as they present new products and services at minimal additional investment on your part.
How to use targeted advertising to help you reach the right people
We live in an increasingly connected world, with our online persona including information gathered from myriad websites, our online shopping habits, and our social media use. An effective way to take advantage of this vast quantity of information about potential customers is to develop a targeted advertising campaign to deploy across social media. Using the information that has been gathered from across the internet, your company can filter the data to narrow things down to the type of customer you are looking for.
Armed with that information, a social media campaign can be developed that targets those specific platform users who meet your criteria. By targeting your advertising to specific people who are more likely to interact with your brand, you will see a bigger return on your investment in social media. True, the cost of obtaining the data and analyzing the information will be an additional investment, but if your company develops an effective campaign from the data, getting your product or service in front of those social media users you target will lead to bigger sales and overall growth in awareness of your brand. As you gather additional data and integrate them into your information, you can further tailor your targeted advertising to obtain a bigger return on your total investment in developing the advertising campaign.
Managing your social media presence across platforms
Utilizing social media to enhance your business exposure is something that you are probably already doing. However, as the number of social media platforms your customers are using increases, your business will need to find new ways to implement successful campaigns across those platforms. You can no longer focus your social media investment on one or two platforms because so many people are using multiple platforms, often for different reasons depending on their needs. Maximizing the return on your social media exposure investment will require your business to develop an interconnected campaign that will reach future customers across the multitude of platforms they use.
Rather than try to manage your social media campaign on your own, it is worth the investment to work through social media management tools. Using such a platform will not only free your team from the need to develop and operate your company’s social media but will likely result in a more effective campaign. With your employees delivering a quality product to your customers and a social media management platform doing the work on an effective social media campaign that has visibility across multiple platforms, the investment in the platform will be maximized on two fronts.
Keeping up with the changes in social media platforms and what does and does not work can be overwhelming. Using a social media management platform can ensure your company’s use of social media is always effective, regardless of the number of platforms you are using and their differences.
Reinvesting your social media returns into your campaigns
Once you have developed and deployed your social media campaigns across social media, it is important to take the information you gather on how your campaigns work and use it to make adjustments. It is unlikely your marketing team will create a perfect social media campaign on the first attempt, but as the campaign plays out, the team can change things to improve the effectiveness of the campaign. When using social media to reach and engage with your customers, the biggest cost is the upfront resources spent on developing the campaign and initiating it. After your new campaign, or campaigns, are running, it costs very little to adjust things.
Reinvesting the information you obtain from your social media operations can lead to bigger returns on the initial investment. As your company acquires new customers and engages with your existing customers via social media, customer awareness across online platforms will grow. Making the most of this twenty-first-century word-of-mouth spread of information will ultimately lead to cyclic increases in growth that can see no end if you properly reinvest the returns from your social media.
Author: Ashley Nielsen earned a B.S. degree in Business Administration Marketing at Point Loma Nazarene University. She is a freelance writer who loves to share knowledge about general business, marketing, lifestyle, wellness, and financial tips. During her free time, she enjoys being outside, staying active, reading a book, or diving deep into her favorite music.
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