Presently, social has become all-imperative and more it will become in future.
According to a study, “The number of social media users around the world is projected to grow from 2.1 billion last year to 2.5 billion by 2018.”
Social media marketing is one of an integral parts of the digital marketing that continues to evolve and used. The use of social media is not limited to the uploading of selfies, or videos, while it’s highly leveraged by the businesses to influence the purchase and foster customer interaction with the brand. Moreover, the way businesses using the social media has also changed. Now, it has become more than just publishing the content.
The social marketing efforts are now tailored to the target audience and kept synced with the brand’s voice to align the business with success. Also, the insights are taken out of the user activity such as what users like, how users react to the content, when users interact and what users prefer, which in turn help businesses to carry out data-driven decisions.
Yet, the businesses struggle to find whether they are tapping the full potential of social data or not, or their efforts are up-to-the-mark or not. How could the businesses identify that social power is helping them in uplifting the ROI?
Here, 5 ways are rounded up that assist business to shoot up ROI using social in a strategic way.
- Narrow the social aperture as per business objectives
Doing a lot of social activities on the myriad of the social media platforms without knowing the key performance indicators is all trash because when you don’t know what your goal is, how can you make the right efforts.
When it comes to SMO services, the businesses need to very specific as the content can make or break the brand. At first, set the goal and then share the relevant information to bring a difference in the marketing strategy, which automatically impacts the users and increases ROI.
- Understand the users before getting social
Every user connected with the brand sails the same boat differently. The challenges they face will be different that businesses have to address in a distinctive manner. When the users are answered on social platforms with relevant content, the users feel like the brand is interested in knowing and solving their pain points.
Target the users after knowing the demographics and their preference from the social profiles to take hold of the customers, nurture the relationship with them and size up the revenue.
- Turn the brand advocates into brand ambassadors
When the social users are closely monitored, there are some happy users who always spread a good word of mouth about the brand and during any conflict, they talk positively about the brand. Such brand advocates influence other users and prove to be a great asset for the business in the long-term.
It’s better to find out such users and reward them for showing such love towards a brand. It impresses the brand advocates and results in a higher ROI.
- Scrutinize what the competitors are doing
No matter your business is under performing or over performing, but keeping tabs on what competitors are doing is healthy for new strategic planning. The comparison helps the businesses in understanding what type of content, the number of the posts or top posts is more engaging the users.
The positive or neutral engagement signals that there is a room for improvement or not and what are the steps to be taken to remove the weakness.
- Value the social data
Less often, the businesses take the social data seriously to create a new social marketing plan considering the social response less credible and trustworthy. But, it’s a big mistake.
The social data is a great treasure that aids businesses in comprehending so many aspects such as the audience preference over certain occasions, product’s preference under a category, the likelihood of product as a reward and so on. When businesses act upon the things that users like, unquestionably the ROI get boosted.
Summing it up
In the last decade, a few businesses have set the mark in the industry by strategically making use of social. Watching the trend, many brands are leaning towards social.
According to CMO survey, “The share of marketing budgets spent on social media is expected to more than double over the next five years, from 11% today to 24% by 2020.”
In the ever-evolving social market, the businesses have to identify the changes going on, experiment with new initiatives and keep the strategy one step ahead of the competition to thrive with epic success.
Even, many businesses are hiring social media marketing company to fuel up the brand’s growth with enriched audience engagement and increased ROI. What’s your take? Are you ready? Do share your views in the comments below.