In the age of Digital Marketing, Social Media has proved to be a powerful platform for brands to reach out to their customers. But how does Social media Marketing work? We all have come across ‘Google ads’ and ‘Facebook ads’ for promoting businesses. But are they really benefitting your business?
The content you create plays a very important role, but strategising your social media presence is equally instrumental in engaging the audience with your brand. And it is not limited to the number of clicks on your ad or the likes on your page, but the amount of actual customers that it generates for you.
Here are 5 ways in which you can analyse and enhance the effectiveness of your social media marketing for your business:
#1 The money spent:
If you are marketing a product/service on social media, there is a good chance that you are spending a sizeable amount of your profit on it. But is it giving you the desired results? Are you getting a sizeable return on your investment?
When it comes to social media marketing, it’s important that companies design a clear budget for it, with an expected ROI. As a general thumb rule, companies should spend 5-10% of their total revenue on marketing, out of which 35-45% should be spent on digital marketing of which social media should constitute 15-25%. It obviously varies with industry.
Calculate your ROI on the basis of how much you spend and how valuable each customer is for you. Some businesses have recurring customers and hence, the value of each one goes up. Whereas, some businesses are of the one time pay kind, where the value of each customer would be less. Depending on the factors, decide up on how much your cost per customer acquisition must be and hence, your ROI, and track your campaigns regularly around these numbers.
#2 Knowing your audience:
It is important to know your audience when pursuing social media marketing for a lot of reasons. Firstly, it defines the type of content that appeals to your desired audience.
Secondly, you need to choose the right platform for your brand. Platforms like LinkedIn and Twitter are more useful for B2B marketing whereas Facebook and Instagram are more suited for B2C marketing.
Tools like Google analytics help you track and analyse how users find and use your website. On its website, Google explains the system “helps you analyse visitor traffic and paint a complete picture of your audience and their needs, wherever they are along the path to purchase.”
#3 Customer enquiries on Social Media channels:
Is your target audience actually interested in what you’re selling? Picture yourself walking into an Apple Store to buy the latest iPhone. You would be asking the customer service executive about the features, cost and other queries related to the product before making the final purchase. Similar to this, people posting queries are the ones who are actually interested in your product and want to know more about it.
Tip: Audience is more engaged with the companies which answer promptly as stats show that 42% users posting queries want them to be answered within a duration of 60 minutes.
#4 Getting organic traffic:
Organic traffic is the opposite of paid traffic, which are the visitors who land on your page as a result of unpaid/organic search results. Google Analytics gives you a complete insight on the kind of traffic you are getting on your website on ‘Acquisition Overview’ page. You can also set the ‘date range’ to see a comparison of your business’s growth over time.
The more the organic traffic to your page or the website, the better it is for your business.
#5 How much is your traction?
Lastly, all the marketing tools are helpful when they produce the desired results. Has your brand’s social media presence increased the number of people who actually buy from you? The numbers in your balance sheet would ultimately decide the effectiveness of your Social Media Marketing. Always plan your campaigns on the lines of a good ROI and track them keeping this returns in mind.
Whether a business is running online or offline, its presence on social media has become a necessity. Many offline businesses like restaurants and boutiques are increasing their reach by engaging with their customers on different social media platforms.
‘Restaurant Marketing’ has taken the food industry by storm and now every social media expert is commenting on how it is beneficial for restaurants. Social networking sites are acting as ‘e-word of mouth’ for these businesses.
97% of small businesses use social media to attract new customers, but 85% of business owners don’t know what social media tools to use. However complex or competitive it may seem, but when done effectively, social media marketing can result in increased customers, traffic and engagement.
Alloy is a five year old digital marketing firm, catering to the online marketing needs of various businesses. Our campaigns are designed and executed thoroughly based on the ROI expected. Be it B2C businesses like restaurants or boutiques or more niche B2B businesses like real estate firms, technology firms etc, we’ve made the best use of social media to give in good traction and generate a good ROI for our clients.
Looking for digital marketing at the best prices? Reach out to us at: Contact us
– Author: Niharika Jain