How to Increase Your Social Media ROI

If you’ve been busy managing your social media presence, and would like to see an increase in your social media ROI, there are a few strategies you can implement. Although they require time and resources to put together, they are worth the effort.

First, you need to identify what type of social media ROI you are after. Your social media marketing ROI can be how much revenue you want to generate or could have a non-monetary value such as:

• traffic to your website
• number of fans
• your reach
• engagement

Once you’ve decided what type of social media marketing ROI you are after, you will have to check your social media metrics, and keep a record of your progress in a spreadsheet.

For example, if your goal is to increase your reach, then create a spreadsheet where every week you write the total reach your posts have received. Do the same if your goal is to increase your audience size, your engagement, your traffic, or your sales. It’s very important to check your social media metrics, because if you don’t, it will feel like nothing is happening and you’re just wasting your time and spinning your wheels.

If you’d like to take your Facebook marketing to the next level, and increase the results you’re getting from your current Facebook marketing efforts by 10, click here to download my FREE Facebook marketing report. Simply enter your name and email and I’ll instantly send you the report.

Once you have decided on what social media ROI you want to focus on and have set up a tracking system for your social media metrics which you’re monitoring closely, you can put your efforts on steroids thanks to the following strategies.

The first strategy that is highly recommended in order to increase your social media marketing ROI when measuring social media performance, is to invest in advertising.

As you know, the organic reach of platforms such as Facebook and Instagram is close to zero. In other words, Facebook and Instagram are not showing your posts to your audience unless you pay for it. They have become a pay-to-play platform.

So if you’re not experiencing social media marketing ROI, chances are is because you are not spending enough money. On top of that, you have to remember that your brand is competing with brands that are spending a lot of money too. So not only do you have to pay for your posts to be seen, you also have to remain competitive with other people’s advertising budgets.

To have an idea of how much your competitors are relying on advertising to stay ahead, go to their Facebook ads library, which will display all the ads they are running. Although it won’t tell you how much they are spending, you can have a rough idea by simply looking at the number of active ads they have running and for how long they have been running.

The other strategy to increase your social media marketing ROI when you measure social media is to collect people’s names and emails and run email marketing campaigns.

You see, to generate sales online, it’s not always a linear process, where people see a post and as a result buy the product displayed. Although this can happen, it is very rare and if you rely on that to happen, you might end up quite disappointed.

People buy online after several touches, so once they become an email subscriber, send them a series of email reminders to purchase your product. You’ll notice that sometimes it can take up to 10 emails for people to decide to buy, and by not following up and not being front of mind, you are missing opportunities to generate sales, as most sales online are generated from follow-up campaigns.

The third strategy to measure social media and increase your social media ROI is to invest in content marketing.

In other words, focus on creating content videos, articles, infographics, blog posts, newsletters and social media posts that provide value to your audience. The more you do, the more trust and respect you’ll gain from your audience, the more your audience will have a positive association with your audience and the more front-of-mind your brand will be able to remain, which all leads to more sales.

In fact, most brands spend a third of their marketing budget on content marketing, which shows how effective it can be. According to Wishpond, Content marketing generates over three times as many leads as outbound marketing

The fourth strategy to measure social media and increase your social media marketing ROI is to leverage the power of retargeting.

Retargeting is the process of displaying ads to people who have already performed a certain action, and therefore are more qualified to buy your product.

If you’d like to take your Facebook marketing to the next level, and increase the results you’re getting from your current Facebook marketing efforts by 10, click here to download my FREE Facebook marketing report. Simply enter your name and email and I’ll instantly send you the report.

For example, you can retarget with ads, people who have visited your website but haven’t made a purchase. Or retarget people who have added an item in their shopping cart but haven’t completed their purchase yet.

These people are much more likely to buy as a result of seeing an ad from you than anyone else, because they have already expressed an interest. You can easily set up retargeting campaigns using Facebook ads and installing the Facebook tracking pixel on your website.

The fifth strategy when measuring social media to increase your social media ROI is to create sales videos. Sales videos are usually short, and explain the features and benefits of a product, as well as demonstrate how much better off people will be as a result of owning the product.

For example, if you sell teeth whitening kits, you can create a video demonstrating how easy your kit is to use, how fast people can have whiter teeth and how cost effective your product is compared to what it costs to go to a dentist. Simply demonstrating all the benefits of your product through videos can be much more effective in generating sales than any other sales strategy.

Another strategy to increase your social media marketing ROI when measuring social media, is to use the current shopping features available.

Both Facebook and Instagram allow you to sell your products straight from their platforms, so you don’t have to redirect people to other places such as Amazon or your website to complete a purchase. They can remain on Facebook and Instagram while buying your products.

This will increase your sales significantly because people don’t like being redirected to other websites and don’t necessarily trust buying from websites they’re not familiar with.

If you’d like to take your Facebook marketing to the next level, and increase the results you’re getting from your current Facebook marketing efforts by 10, click here to download my FREE Facebook marketing report. Simply enter your name and email and I’ll instantly send you the report.

Remember to also subscribe to our Youtube channel for the latest social media marketing tips and tricks.

About the Author