Social Media Marketing: Lead Generation and ROI
The social media campaign is an essential part of lead generation. It contributes to the success of online businesses. The prospect of getting started can be daunting. Experienced marketers are aware of the do’s and don’t on how to use social media properly and yield a strong return on investment (ROI). The social media presence of businesses matters a lot. Lack of social media presence can ring alarm bells. Social media covers all aspects of a business lead generation such as driving traffic to a website, creating awareness of your business, growing your customer case, answering queries over social media, and increasing revenue. Marketing managers need to be experienced as they need to know how to use social media tools to promote their content. They are trained to effectively promote their content over social media.
There are certain do’s and don’t that you need to keep in mind to promote your business over social media and have a recurring return on a continual basis –
- Goal setting and having a clear objective ahead – It helps you to focus on critical elements of your business. Reduces unnecessary expenses. Increases productivity and keeps you ahead of your competitors. Apart from that, you use your time judiciously as you focus on specific elements of your business which matter more.
- Analysis and tracking your results – It is important to keep track of your progress pertaining to social media campaigns, lead generation, ROI, user engagement, sales, etc. There are various tools like Google Analytics, Socialbakers, Hootsuite, Sprout Social, etc to track your progress effectively.
- Maintaining consistency across social media platforms – It is important to maintain your brand image and keep it consistent updating new information across all platforms. It involves updating information pertaining to the name of the brand, logo, office addresses, products on sale, etc.
- It is important to share valuable content relevant to your business and product. Sharing quality information brings more customers without losing traction. It fulfills your objectives and creates more revenue. Quality content is directly proportional to more clicks which means more conversion and revenue.
- Social media advertising has the potential to generate more revenue as it uplifts your brand within a short span of time leading to more income. There are two modes of social media publishing –
- Organic or free content driven by quality. You can reach out to your desired customer base by publishing content focused on your audience.
- Paid content over social media is cost-effective as it can significantly boost your traffic, ensures that it reaches your targeted audience, and calls for action at the end.
- Consistency across multiple channels is crucial as it enables you to watch tone, and language while publishing content over multiple platforms. For example, if you are posting content over LinkedIn, your overall tone needs to be formal which highlights your brand and gives a new dimension. Similarly, posts published over Facebook can slightly be informal. Being too casual or informal tones can damage your brand image and reputation.
Here are some don’ts which you need to incorporate for the highest efficiency in promoting your brand online and increasing ROI –
- Posting too much online promotional material on social media causes more harm. You should be cautious of what you are posting online. Repeating the content, again and again, hoping that it will bring in more traffic is not the case. You should understand your customer base first as the high frequency of posting messages online can lead to the palpable risk of losing customers or restricting your output.
- Using bait or reward as a mode of engagement with your customers can lead to the risk of negative publicity. There are various other modes to boost our publicity. Implementing social media bait posts or spam tactics can potentially demote your posts and impact lead generation.
- It is tempting to use all social media platforms to promote the same content but it will not necessarily lead to the generation of new leads. Using multiple social media platforms to promote the same content can dilute our brand and it doesn’t necessarily reflect your commitment to serve your customers to the best of your ability.
- You shouldn’t be fixated too much on the number of followers or number of social media users reading your posts. You should focus on quality instead of quantity as the real value is found in the number of conversions after reading your posts.
Generating soft leads are critical to developing brand identity and engagement. It can lead to good ROI especially through measured social media engagement, and marketing. Social media campaigns to promote your online business require taking into account advertising channels, cost-per-click, conversion funnel, and marketing soft leads.
You can use built-in platform analytic tools to understand your social media performance. It will enable you to get a glimpse of your ROI. There are various tools to track your performance and engagement such as Linkedin Company Page Insights, Facebook Insights, Pinterest Web Analytics, Google Analytics, etc. Social media analytical tools offer you various options to redeem and capitalize through in-store purchases, discount coupons, online offers, network referrals, etc.
Increasing online traffic to your brand or company website through social media referrals is critical. Marketers use various modalities such as landing pages, trackbacks, conversions, etc to increase their visibility and traffic. Content of pages needs to integrate with the content published on social media.
To increase ROI, you need to focus on the following to increase conversions –
- Create a strategy with outlined goals to increase engagement and improve social media performance.
- Publishing on a desired social media platform to increase outreach and stay organized.
- Using the right tools to manage and monitor your performance from one central hub such as social studio, buffer, sprout social, and Hootsuite.
- Tracking your metrics and measuring engagement with new followers, referrals, and conversions is critical.
Overall, social media enables you to socialize and share your content regularly. You should always make efforts towards boosting your web presence. You need to build your brand image by increasing the conversion rate as it is directly proportional to the ROI. Focus on your consumer needs and provide them with solutions to increase engagement, publish authentic content, and increase brand awareness. Be more creative, open, and market your products to increase sales, generate leads, and increase conversion rate.
The average profit you net from a customer over a specific period will lead to customer lifetime value (CLV). CLV multiplied by conversion rate shows you the potential for each hit. It will enable you to understand the cost associated with your investment and the potential value of your profit.