Just last week, one of our clients asked me what the return on investment (ROI) on social media marketing was. My answer was not straightforward but in the end, I think I got my point across.
The problem is that with social media there is no clear-cut ROI on your investment. For example, if you have 500,000 Facebook Likes, what does that mean? How does that convert into dollars and cents?
I thought it timely to take a look at what you can expect from your social media campaigns over a 12 month period and hopefully help you gain some insight into how social media can work for your business.
After three months of actively blogging, tweeting and posting you can expect an increased brand awareness with people starting to Like your posts or tweets. Also, customer queries will be asked over your social media channels and by responding promptly, you begin to build a positive reputation for your brand.
At six months, you should notice a further increase in your Likes and more comments and sharing of your content. You might also start coming to the attention of online marketers or bloggers at this time.
This is when you should see a good result in brand awareness. You may even have found a completely new market for your services or products, and brand advocates appear and start to share their stories as well as promote your brand. With 12 months of feedback and customer contact under your belt, you are now able to make more refined and targeted marketing decisions, to further increase the market share of your business.
|3 months||6 months||12 months|
|Brand awareness||Expect that brand awareness will slowly increase and include current customers and people who already know you or your brand (family, friends, colleagues etc.)||You have attracted a new audience who hadn’t previously heard about your brand|
|Customer engagement||People will start Liking your posts||Likes, comments and shares will increase||Supporters emerge and help spread testimonials|
|Customer service||Customer service issues will be shared, so respond quickly and deal with problems promptly||A better understanding of customer concerns helps focus your marketing|
|Reputation||Listen to the market and share positive brand stories with your audience||Use brand feedback to hone your marketing campaigns|
|PR potential||Current audience will offer the most PR potential||Online media outlets and marketers start showing interest||Mainstream media and authority sites become interested|
The take home message is that social media marketing works, but whilst its ROI is not easily measured, you will see a real benefit in around 12 months.