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How to get the best ROI on social media

Social media is an invaluable tool in every business’ arsenal but it’s pointless if it doesn’t generate an ROI. Social media is a tool, and a tool is only as effective as the person using it. That means there are things you need to keep in mind if you want to maximise the return on your social media investment. Understanding and implementing these key tips can be hugely effective.

What is social media engagement?

Social media engagement is the driving force by which you measure how successful your social media presence is. Engagement takes many forms, depending on the platform you’re using; for example, page visitors, likes, comments, subscribes, follows, messages, shares, and so on.

The key first step you need to make

Before even thinking about the ROI you’re getting from your social media strategy you need to take one key step – find a way to measure your metrics. You will have no idea on the ROI you’re getting if you’re not able to track your engagements. Many social media platforms offer their own engagement tracking tools, or if you use dedicated software like Sprout Social you can also track your data. If you’re involving a social media marketing team, ensure they generate regular reports for you to have a clear understanding of the effect of what they’re doing. This data is invaluable for so much more than just tracking likes.

Where do you begin improving your social media ROI?

With the tools in place to track your engagement, it’s time to maximise your social media feed’s potential. Here’s how you do it.

1. Post regularly

In the minds of many users a dormant social media feed is the sign of a dormant business – how true that is doesn’t matter, the perception alone can be damaging. You need to aim for anywhere between one and three posts on a daily basis, to keep your business presenting a busy, vibrant image.

2. Post content offering genuine value

What are you actually posting? Is it of any use to your customers? If the answer is no – why are you posting it? The key to increasing your ROI on social media engagement is to create and share the content your customers and audience actually want to see. Track your numbers and learn what’s popular.

3. Encourage feedback and listen

One clear way to increase engagement is to be seen to listen to the feedback of your community. Gather their feedback on what you’re posting, how they think it could be improved, and what they’d like to see. Then, importantly, action it – don’t let your users control your feed, but be seen to take on feedback.

4. Respond as quickly as possible

Social media is a fast-moving environment, which means you need to respond to comments as quickly as possible. Of course, every user understands you might not be able to respond immediately, but don’t leave important comments without a response for more than a few hours if you can help it.

5. Show your human side frequently

The important thing to remember is that people engage with people, not robots. You can use software to automate your posting schedule and even keep some stock responses, but don’t take a “hands-off” approach. Show your personality, your humour, your team – this is your chance to capture your audience’s interest.

Getting professional help with your social media

You’ll see that being successful on social media relies on some very basic, logical, and sensible principles – there’s nothing about it that’s beyond any business. The key element you need to think about is time, however. Social media platforms require time. Time to collate and analyse the data, time to formulate new strategies, time to create and distribute content, time to respond to comments and messages – you get the idea. The issue is that time is your most valuable resource.

So what do you do? You outsource your social media management, or key components of it, to social media marketing professionals who will be able to assist you. You can be as hands-on or hands-off as you like. You can, for example, just get support with determining a posting schedule or getting help with generating posts. Or you can leave it all to the +24 team, and only have to look at the regularly generated reports for proof of the success your social media platform is now enjoying.

For the guidance you need to make your social media platform an investment that provides consistent results, contact +24 Marketing today.