Social Media ROI: What You’re Doing Wrong
When it comes to social media ROI, you’ve got to connect the dots, says Gary Vaynerchuk, business builder and owner of VaynerMedia. To understand the value of your social efforts, you need to know the reasons behind what you’re doing and what your results mean.
At his recent webinar, “The Do’s and Don’ts of Social Media ROI,” Gary discussed how brands can quantify their social media content and learn what content leads to sales. While brands can certainly glean a lot of data from social media, knowing what to do with that data is what sets successful brands apart from the rest.
You could be sabotaging your brand on social media and not even know it. Here are six things you’re doing that hurts your social media ROI:
Leaving it up to chance
“Don’t underestimate social media,” Gary says.
If you’re posting content without a plan, there’s no way for you to influence the results. You need to understand what post, video or tweet is leading to conversions.
Before you post anything, think about how it will affect your brand, and have a plan in place to track the effects of your content using social analytics.
Listening to so-called “experts”
Social media is a hot commodity right now, and everyone and their mother thinks they can do it. And while it’s certainly true that anyone can do it, not everyone knows how to do it well.
That 20-year-old computer whiz probably doesn’t have much professional experience, while a 60-year-old business leader might not be familiar with the ins and outs of social networks.
Tracking just impressions
One of your social media goals is surely raising awareness of your brand. Keeping track of that awareness can be pretty easy, too. Gary says you need to ask yourself: “Is your awareness creating the outcome you want?”
You need to go beyond just collecting followers and understand how people are interacting with and consuming your content.
Gary says, engaging with your followers on social media is the equivalent of giving them a handshake. On occasion, reach out to them on an individual basis to foster a positive reputation for your brand.
It doesn’t take much time on your part to send a simple “thank you,” and people will remember the thoughtful gesture.
Cross-posting your content
When you post the same content across social networks, you may think you’re saving yourself time, but you’re actually hurting your brand.
People are in different mindsets when they come to each social network, says Gary. They don’t want to see the same thing on Twitter as they do on LinkedIn.
Forgetting to add value
Not everything on social media is about transactions, says Gary. You need to build leverage first before you can ask your customers to buy something. The way you do that is by adding value.
Join existing conversations to establish your voice and start new ones with your own content. Above all, be patient; the effects of your content won’t happen overnight.
Gary says, “If you believe in what you’re doing, you will win.”
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