All types of businesses are realizing the power of social media marketing and increasing their budgets to Social media marketing. When there is an investment results are measured and ROI is questioned repeatedly. The sad part is 75% of marketers cannot calculate ROI on their marketing spending.
Digital marketing has made measuring roi much easier compared to traditional marketing. For example, in traditional conferences, lot of money is spent on traveling people into a location, creating material, logistics. With such investment, there is always a question which is answered incompletely is the ROI on the investment. In the digital world, you can exactly measure how many impressions your ad had, how many clicked on the link and how many actually downloaded the white paper and so on. Of course, not to mention your reach tremendously increased with digital marketing especially social media marketing.
Always create a funnel for your company based on your marketing goals and tools available for you. You can find a general marketing funnel that applies to most businesses.
Step 1: Brand awareness
Once you find out where your audiences hang out, start addressing them with your persona based marketing content. Impressions you calculate is the number of people you reach. Run a campaign of 20 posts over a month. The posts should be combinations of light educational reading, deep knowledge papers, posts with pictures, posts with videos and posts with simple text tagging an evangelist in your industry. Measure impressions on all these posts.
Step 2: Repeat visibility
A few years ago, it took three times for your audience to see your brand before they start recognizing you. However with increased content on social networks the rule of thumb is six times. So, post content as many times as possible on social networks and calculate the combined impressions. That is your total visibility.
Repeat visibility need lot of content to be generated and posted. Here is a good news, according to a new research when it comes to clicking on links, content curation generates 33% more clicks than posts linking to owned sites. So, don’t worry about whether you are creating or curating content as long as you post quality content for your audiences.
Step 3: Genuine Clicks
Once you measure the total visibility you achieved, the next step is to measure number of people who are taking action on your content. You don’t have to pay for PPC (Pay Per Click) to calculate this. Create a short link for your actual link on the post. Calculate clicks to this short link. This will separate out all the clicks from social media posts to your link. In Advo.Ninja we help calculate genuine clicks to the website. What I mean genuine is when you post a link on social networks several bots try to read the feed for various purposes, all these look like clicks to your website. So, you need to eliminate these clicks in order to measure clicks accurately. At Advo.Ninja we pay special attention to remove such bot requests from the total counts of clicks.
Further you can collect visitors information on your website by having gated content.
Step 4: Rinse repeat
Keep track which posts are doing the best and repeat similar posts to get in front of your audience. If you measure every post in the same fashion with these 3 steps mentioned above, you can constantly improve your content and thus reach.
Doing this manually is not economical.