Most people who do online marketing understand that social media comes with the potential to increase and even multiply revenue especially when used well. There are businesses that report very high returns after using social media and this can be a reality for even more businesses. Many marketers say that social media marketing is one of the greatest ROI online marketing strategies that you can find especially because of the low costs that are involved. Also, there are no barriers and almost anyone can use social media, especially if they have an internet connection.
However, it is important to appreciate the fact that social media marketing is becoming more and more competitive and it is also getting saturated commercially. The organic reach is, therefore, declining every day. This tells you that there are truths about social media marketing that we need to understand and embrace to get ahead.
- Not everyone gets a positive ROI
A great percentage of marketers make use of social media to market their various businesses. However, only about half of those businesses see a great ROI. There are lots of reasons for the discrepancy and they can be accounted for in the points below.
- It takes effort and significant time for one to be successful
Social media isn’t about turning it on and you will see conversions and revenue immediately. It is something that is built up with time and effort. For you to have a presence online, you will have to work extra hard to earn it. There is a need to understand the target market. You will also need to craft messages carefully and also time the posts you make.
There is a need to be active in a consistent manner. This should be followed up with engagement with the audience. This could take months, or even years before any reasonable return is achieved. It takes time to generate the kind of following that you desire and you may make many mistakes before you grasp the true meaning of social media marketing.
- ROI may not be the same for all
Someone may tell you that they are seeing an ROI of say 500 percent which is very impressive. You need to ask yourself where exactly it is coming from. Is the measurement based on the victors they get connected to social media or not? Is it based on sales that have come from the channel directly? Also, are the calculations correct and do they include shares made by full-time employees who work for their campaign? To put it clearly, ROI is usually self-reported and so it is not easy to tell whether it’s accurate or not.
- The ROI that you get from social media usually depends on other channels
Usually, the strength of social media campaigns depends on the kind of efforts that you are making in other channels as well. Let’s take an example of two companies doing the very same thing. Company Y and company Z. Company Y launches a great campaign and pays around 100 dollars every week to facilitate the marketing. On the other hand, company Z sends the same amount every week on advertising and begins to build a client base.
After a while, companies Y has some progress and is actually breaking even on the social media spend while company Z has a strong customer base and so they start a social media campaign. After some time, both companies have the same number of followers, but the first company has spent more than the latter and yet they have the same reach. It is therefore important to try out other arenas too rather than just concentrate on social media marketing on its own.
- It is hard to earn a positive ROI
Today, earning a positive ROI on social media/ is quite hard. This may be because of the decline in organic reach that brands are able to achieve on different platforms. There are social media apps that have even gone a step further to decrease the visibility that a company or organization page can get if nothing is paid.
This is done to help the mainstream users to have an experience that is less commercial as they browse their Facebook newsfeed and also encourage the companies to embrace paid advertising. Social media ads yield a very positive ROI, but they are a bit more costly than the strategies that are purely organic.
- There are some industries that are favored more by social media marketing than others
It is irresponsible to say that there are industries that cannot thrive on social media. The truth is that any company has got great potential to see a very positive ROI. However, there are industries that have an easier time as compared to others. There are some that have strong visuals and more interesting content than others. There are also those that are mass marketed where the target market uses social media very heavily. In such a case, these companies may end up performing well in comparison to the ones that are in sparse demographics or an industry considered being boring.
- An explosive growth requires some luck
When you are lucky enough to have viral content, then your presence is scaled very quickly even if you are an amateur. However, the viral content science is rather limited. Even with the right kind of ingredients, you will need some luck to be successful. A competitor may post something and it ends up getting more viewership than yours simply because of the timing or an influential person shares it for them
The above truths are not in any way meant to discourage businesses and companies from carrying out social media campaigns. They are neither criticism. Social media still remains as one of the most cost efficient and the best marketing strategies that we have today, but it is important to know exactly what to expect.
How to win in social media marketing?
Internet-connected devices are so many today and almost everyone has one. This is what has facilitated marketing and discussions on social platforms with people from all corners of the world. People can share experiences regarding products and brands and this has made it possible to set apart the best from the rest.
To be able to win in social media marketing having the above truths in mind, you will need to:
- Understand social mechanics
- Gain powerful allies within social media to have a social influence. Consumers can be great allies in the sense that they spread the word when they are totally pleased with a product without asking for any kind of remuneration.
- Create new content
- Share new content from time to time
- Come up with challenging content to beat your completion
- Appreciate feedback
- Connect with your audience
Social media is a great tool for marketing. However, it is not magic and one needs to invest time and effort to make it big. When you tap into the psychological drives that are deeply embedded, you can make social media very rewarding and engaging.
The truths about social media marketing
Category: Social media marketing
Keywords: social media tips, win in social media, traffic generation
Tags: online marketing method, social media marketing, digital marketing tactics