When it comes to your ROI in marketing there are three key questions that everyone needs the answers to before they get started: what is ROI, why is it important and how can I implement it? ROI stands for Return On Investment and it’s what you’re getting from what you’re putting into your marketing efforts. Sort of like getting interest from the money men at the bank except instead of just money, you’re getting a coveted social media following and new fans for your brand or company. Secondly, it’s important because ROI can lift your service up on its dullest days – these people who engage with your Twitter account or your Facebook page aren’t just going to fork out cash for what you’re selling, but they’re going to encourage their friends to take interest too, meaning good things all round for both you and the customers who are getting access to some of your great products. Finally, there is no definitive answer of how to implement and boost your ROI but this list of our ultimate tips should be a fantastic starting point.
1. How To Get Your Social Media Followers To Do More
Before you even think of that snazzy Twitter handle, it’s important to understand that getting a whopping amount of followers, likes, shares, retweets etc is not the be all and end all of your marketing practices and the aim of the game should always be giving your followers even more of a reason to invest their time and interest into what you’re offering. Following you on your social media accounts gives them access to updates but have you considered encouraging them to sign up to your email newsletter? Not only does this give you more direct access to your customers, it also provides them with a greater understanding of your business, which is key when it comes to converting followers into sales. If you’re not doing it already you must work on building your database!
2. What On Earth Are Pillars and How Can You Utilise Them?
Consider that your blog, Facebook page or Twitter account are three pillars on their own; they might work fantastically separately but how can you foster a community around them? How can you build on that to make long term, profitable relationships that are more ‘kumbaya’ around a campfire than they are customers in line waiting for a new update on that product or service that they like? Deals and freebies may be a way to their heart but these things need to be considered so that in the long run you’ll be able to retain these fans and have them trust you.
3. The Long Game
Perhaps the most important ROI tip on this list is the one that people most often forget; marketing is a marathon not a race. So said the turtle to the hare and all that. But really, no one should jump into the marketing game and expect instant, electricity jolt type support from fans that haven’t taken interest yet because that’s just not going to happen. Taking care to foster engagement and trust over time is the way to do it and the more you put in the bigger your eventual ROI is going to be.