You probably know how to measure ROI for your business. That’s pretty easy it’s black and white, numbers and dollars. But what about social media? The problem with such a new marketing concept like social media is that it’s difficult to measure. Excuse me, it’s difficult to get the industry to agree on a method to measure ROI.
What happens then is that you get people trying to complicate things in order to present themselves as the all-knowing social media experts, pitching extensive services and strategies and coming up with titles that just don’t mean a thing. On the other side, you’ve got small and mid-sized businesses befuddled at the whole thing.
It really doesn’t have to be that complicated. For sure, measuring ROI hasn’t been easy. You don’t get immediate sales results with social media. You get business-customer relationships. And isn’t that really what it’s about anyway. I mean if you get the relationship you get the client, and their loyalty. In the end it adds up to dollars and a whole lot of sense.
Small and mid-sized companies, do need to incorporate social media marketing into their budgets. Perhaps the mulit-team, multi-level social media strategy approach is good for big corporations, but for many more businesses a streamlined approach to social media is preferable.
When looking for someone to manage your social media campaign ask yourself a few questions. Are they simply selling you on what they think you need or are they asking you what your goals are?
Do they suggest that there are areas you don’t need to be in? This is important because not every business thrives in every area of social media. Some industries work better with Facebook than Twitter etc., some industries really benefit with press release creation and submission, while for others it wouldn’t be the best place to focus energy.
Do they want to tie you down with a year-long or longer contract? While it does take a long while to see results of your social media efforts, you may decide earlier that it’s just not for you. And while that may not be the best decision, quitting early still should be your decision to make.
In the end your ROI will be apparent when you see lots of activity on your social media accounts, a marked increase in links/visits and comments to your site, and ultimately and eventually an increase in dollars in your bank account.