Since businesses first appeared on social media platforms, people have been talking about how to get a return on investment (ROI) from their social media efforts. These days the subject of how to achieve positive ROI from social media initiatives almost seems like a cliche.
However it is critical for your business to figure out how to make social media worthwhile, for two reasons:
- You may have untapped growth opportunities tied up in potential social media strategies.
- If social media is not going to be worthwhile, you should not invest in it.
In order to understand if social media is justifiably beneficial for your business, we need to understand social media. This guide will break social media marketing down into meaningful, manageable pieces so you can start to drive real #SocialROI.
If we accept that we’re talking about major social networks, the question of ROI is more manageable.
So, for our purposes, we’re talking about Facebook, Instagram, Twitter, Pinterest, Snapchat, LinkedIn, YouTube, Google+ (if it’s still worth mentioning), and other niche or geographically-cordoned networks, such as Weibo and Xing.
Most people think of social media marketing as the simple act of publishing content to a social network.
This definition is incredibly limiting, partly because of the steadily declining value of this tactic in isolation (e.g. posting content to Facebook yields fewer and fewer responses due to Facebook’s declining organic reach), and partly because there are many other social media marketing tactics available to your business.
In reality, there are six ways your business can use social media to drive results...