Tagged: social media
- June 3, 2019 at 12:28 pm #4309
A whopping 90% of brands say they use social media as a tool for raising brand awareness. But according to a recent survey by Sprout Social, 55% of social media marketers say measuring ROI is their number one challenge.
Clearly, businesses realize how important social media is for staying competitive in the digital age. After all, over 40% of digital consumers turn to social media when researching new brands. Platforms like Facebook, YouTube, Twitter, Instagram, and the like present an incredible opportunity to personally connect with buyers. You can humanize your business, raise awareness for your brand, and introduce new products in an instantly shareable way.
That said, social media is like every other marketing effort: just because it can be an effective approach, that doesn’t mean any attempt at engaging buyers on social media is bound to be met with success. You need a social media strategy. You need to do the research necessary to clearly define your customer persona, your business objectives, and your likeliest path to success.
And you need to be able to measure your return on investment.
ROI is an elusive calculation for too many social media marketers. After all, so many of your social media goals are intangible. How do you measure brand awareness? What concrete number represents customer trust and advocacy? How do likes and shares translate into dollars and cents?
Believe it or not, there actually is a system for assigning real value to the abstract benefits of social media marketing.
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