Brands of all sizes in many industries produce social media profits and return on investment (ROI). But in addition to looking at some of the best practices that produce social media ROI, it's important to be aware of the mistakes that block it.
If you’re not achieving the social media ROI you want, look at whether you’re making any of the mistakes below, and eliminate them.
1. Capturing the wrong audience
If your fans aren’t like your paying customers, you can’t expect them to buy. Make sure your audience growth strategy strategy is aimed at people just like your best customers.
2. Too many steps
With every step, from reach to fans to visibility to clicks to buyers, your prospect numbers diminish. If you have too many steps in your sales funnel, from the time people first hear about you to when and how they can finally buy, your conversion rate will be too small, and you won’t achieve a positive ROI. There are a lot of moving parts to optimize, but keep in mind that the shorter conversion path yields more sales.
3. Lacking commitment to social media
Social media is a living, breathing animal. Make sure you have an ongoing listening and engagement plan with the resources to support it. Don't leave your Facebook fans hanging!
4. Being boring
Success means creating smart, helpful content. If you can’t create interesting social media content, hire a writer or third party content source. Or consider sharing the content from others in your field.
5. Too Few Exposures
You can't work in a vacuum with just one type of advertising. Trackable ROI comes from social advertising combined with owned media strategies. You need to reach a lot of people, and you need to reach them more than once. In order to get them to buy, know who you're talking to and target them enough times until you see results.
At a dinner, no one wants to listen to a bore or the person who goes on and on about themselves. Social media accounts that only talk about your company or employees are similarly boring.
Your company offers something to customers, hopefully to help them. Focus on your customers, their problems, your solutions and their benefits, and most importantly, the dreams you’re helping them achieve. They’ll engage with you every day.
7. Not persuading or warming up
Even if you have a huge number of fans that you reach repeatedly and you create awesome conversations and get thousands of likes, and even if you get people to your website, you may still be missing one critical piece of the social marketing puzzle: persuasion. Unless you’re making money on ads on your website, even getting people to read your blog doesn’t magically equal sales. Think about how your posts and content marketing can help push people further down the path toward that buying decision.