You only have to blink an eyelid and technology is changing. Brands are fighting to keep up with social trends, however how do you know what your return on investment is from your social media marketing and advertising?
The majority of brands have now embraced social media and have implemented social media strategies, to ensure they stay connected with their consumers on a regular basis. However, understanding the true benefits social media provides businesses, is still questionable in the minds of some brands, who have not quite grasped how to measure the returns social media can provide on their investment.
To appreciate how much value social media can add to a brand, one must consider the following factors, prior to implementing a social media marketing and advertising strategy:
- Who is the brand’s ideal target market?
- What social media platforms should be implemented to reach that target market?
- What budgets or resources are required to ensure ones audience is successfully reached?
- What type of content should be delivered to that target market?
- How should a brand measure social media conversions?
- What should a brand do with a conversion to encourage future sales?
- How can brands keep that customer for life?
- How can brands leverage existing fans to grow their brands organically?
There are so many advantages for brands when utilising social media in their marketing mix, especially considering social media marketing can be refined and evaluated regularly. It is very malleable and provides brands with a direct communicative link to their target market. That in itself should be a factor to consider when determining the true return on investment.
The ability for a brand to stay ahead of their competitors in these fast paced times, is crucial in ensuring it doesn’t get left behind. Social media enables brands to demonstrate their innovative side, much more effectively than other forms of traditional marketing and advertising. So now is the time to really ask yourself what returns you expect from your investment on your social media marketing and advertising.
For more information on how RGC Digital Marketing could demonstrate the types of returns social media marketing could provide your brand, please contact Richard on (02) 8883 2988 or email firstname.lastname@example.org