In this post, I continue a series based on my latest publication, ‘the executive’s guide to social media’ – you can download a complimentary copy here.
What are some realistic expectations for our social media goals and outcomes? This is a common question from prospects and clients. One of the greatest challenges our clients face is understanding what kind of ROI to expect. Everyone hears about the anomaly of a guy that had overnight success on Twitter and then they think that’s the norm. I usually see one of two scenarios – the clients that are fuzzy on what social media can do when well executed, or, the clients that have very aggressive goals tied solely to financial gain.
Social media’s primary power is in developing relationships and long-term loyalty. Retention and referral rates, repeat business, overall value, and lifespan are consistently higher for customers actively participating in a company’s online community. Start off conservatively when setting initial goals and work your way to becoming more aggressive as you gain experience with your audience. If you’re just starting out, you are simply looking for slow burn, incremental growth – a net positive in followers and engagement month over month. As you get to know your audience and become more familiar with them, you will learn how you can alter your direction based on spending habits, trends, and personal behavior, as well as the content that they engage with most, and investing in ads to extend your reach.
Tip: When building your social media plan, start with one main objective. I often see clients try to achieve too many goals with their social media at one time. This will lead to a diluted message with mixed results. An example is optimizing all your social media to get traffic to your website if you have an ecommerce site. You can expect a better outcome and more growth if all the platforms you use are working in concert with quality content toward that one goal.
I know, you’re looking for hard numbers right? Every brand interacts with their audience differently, and it depends on if you have other strong platforms we can utilize for social media growth, like a strong email database for instance. It also make a difference if you’ve been relying on ads or slashing prices to attract your audience to this point. If you’re curious how much growth you should see in your particular scenario, email me and set up a complimentary 15 minute phone call at jennifer at red balloon inc dot com
Most aggressive social media plans create artificial “success” or growth, but those audiences don’t really care about your brand, they won’t engage with you and you won’t see many of the benefits of long-term loyalty come to fruition. Invest in a long-term social media plan and develop relationships. Start with a well-defined objective and build your plan around it. If you’d like more information on developing a strong social media strategy, email me or download my latest coplimentary publication ‘the executive’s guide to social media’.