Congratulations! If you are reading this your business probably has a social media presence and doing advertising on the channels as well. The only problem is that you are probably confused with how to measure your success or “return of investment” (ROI). 

In this blog, we will tell you some of the things that you need to know to be able to measure your “return of investment.”

  • Social media goals or purpose

Like everything in business, your social media has to provide a function to your business. This is the first thing you must always do because without a clear set of goals or a clear purpose, it would be like your social media was a bus headed nowhere. 

Some examples of goals that can be set are:

a. Increasing brand awareness for your brand/business.

b. Attract traffic to your website. 

c. Generate new leads. 

Once you have set your goals, you can break down what are the analytics that you can use to support that you are indeed achieving your goal. It can either be tracking the vanity metrics – fan growth, mentions over time, or even the number of people inquiring through your social media about your product. 

  • Develop a social media strategy to achieve your goals.

Certain social media goals will come with certain strategies. Not all strategies will be the same so having a strategy on how to accomplish your goals is a great way to help you get your return in investment. 

Some strategies include:

a. Run social media ads with goal conversion to generate new leads.

b. Run a remarketing campaign that targets website visitors on Facebook.

c. Follow 10 new people on social media a day (relevant to your industry and customers).

  • How long does it take to accomplish set goals?  

Since you are not the only company that uses social media, don’t expect that all your goals will be accomplished in a week or even in a month!

Doing social media takes a lot of time and effort, so give your self a rough timeframe based on your set goals. As you go along, if you don’t see the results you want in your timeframe take a step back and restrategize on how you can accomplish those goals (be doing paid, doing organic, or taking a look if your timeframe was the problem). 

As the saying goes “Rome was not built in a day,” neither was a 1.2M followed social media account. Looking at what it takes to accomplish your set goal is how you know if you have a “return in investment.”

Investing in digital marketing can help your company earn more revenue, leads, and conversions. If you’re ready to take your business to new heights, contact us to see how we can empower your business. 

Let’s face it, digital marketing is becoming the new way of reaching audiences in their homes. Every business should have at least a strategy when it comes to digital advertising as it comes with many advantages.

Here are a few to note down if you are thinking of plunging to the world of digital advertising. 

  • It’s cost-effective

It is difficult to compete with bigger businesses in terms of voice share when they have money to spend on traditional ads. Advertising in the digital space levels the playing field for all businesses targets your intended audience while maintaining a budget that is friendly to your pocket. 

The slight drawback is that it takes time to implement the strategy and develop the results. Although, when done correctly is worth the investment that you put in. 

  • It’s trackable

With traditional advertising, it is hard to pinpoint the root cause of why the ad failed as there are too many factors in play. When you create a digital marketing advertisement, you can see in real-time how your ad is doing and adjust your strategy. This allows you to save money when doing your next ad as you now know what worked and what didn’t. 

  • It can allow you to target your desired audience.

As mentioned earlier, digital advertising allows you to target your desired audience on a budget. When creating ads on Facebook, you are given the option to define age, a specific gender, occupation, interests, hobbies, and more. The options are limitless. 

  • It increases your conversion rate

When you invest in digital marketing, you have the option of increasing your conversion rate as you are now targeting people who are interested in your business. When you have earned enough conversions, your company will start to grow and get noticed. 

  • You are in control and can make changes as you go. 

One of the biggest benefits of digital advertising is the option that you can make changes as you go along the ad. Unlike traditional marketing, you can tweak your social media ads, optimize your SEO campaigns, and update your content. 

Investing in digital marketing can help your company earn more revenue, leads, and conversions. If you’re ready to take your business to new heights, contact us to see how we can empower your business.