“Social media is about engagement, conversations and an audience… designed to increase reach of the brand. Social media is immeasurable against traditional ROI + ROAS standards”.
ROI + ROAS {Return on investment + return on ad spend}. It’s what every C-Level executive wants out of their Social Media Marketing team and their initiatives.
And rightly so.
Why would you execute a strategy that you can’t prove works? Justify the spend & expect results.
With that said, there is more to social media than straight dollars and cents. It’s not some elusive beast that we can’t define, but many choose to pretend it is so they don’t have to validate their work. Don’t let that be the case for your brand.
Social Media ROI + ROAS is measured by increases in:
- Profits
- Share of voice
- New customer leads
- Retained customers
- Web traffic (including conversions)
- Positive Customer experiences
- Engagement with your content
But to get to these strategic (and tangible) results, you have to know what you’re doing:
1⃣Build a strategic road map. Focus on your customers needs, not solely what benefits your organization.
2⃣ Set reasonable goals. Establish goals in every social initiative that are trackable, tangible and valuable.
3⃣ Create stunning campaigns. Copy & visuals can make or break a campaign. Do not half-ass this.
4⃣ Invest properly. You cannot achieve success without a solid budget spent wisely.
5⃣ Analyze & report the results. Be disciplined, target improvement not ‘the next big thing’.
6⃣ Adjust, modify, improve. Do not let your campaigns be the definition of insanity.
Social is an inherent cost for a brand. But that doesn’t mean it should be a spending black hole. If you have the right road map in place, ROI + ROAS are not only achievable, but expected. If your social strategist can’t provide this or do that, RUN.
Does your social deliver?
