Social Media ROI

December 6, 2010 — Leave a comment

How will Social Media benefit my brand, will it increase my sales? These are the main questions every client I have worked with keep on asking me. Some of the most powerful social media practitioners around the world  myself included usually fail to answer this question. What is the Social Media ROI?

Social Media is not only about community building and Brand Reputation Management as far as the client is concerned, they want to see the money on the table, they want to feel that their Social Media monthly fees will actually pay off or otherwise what is the use of Social Media agencies or Social Mediators? The client wont just rest when you tell them you will get 45% increase in interaction or that people will actually know the brand, answers from top international brands would be “I am a well known brand thank you very much”

How would the Social Mediators meet this challenge, what can you actually do to assure Social Media ROI, rather than actually claiming that you can?

  1. Know the Numbers: You need to know the reach, the number of users on social networks in your country, number of users and increase all around the world to know the upcoming trends. Focus on the number of similar brands who have online presence.
  2. Do The Research:  By knowing the numbers you can by than figure out the type of the customers you are trying to reach, your research needs to come out with an average percentage of your potential customers. Talking to the client with your numbers and research will be the first step in meeting your RIO challenge
  3. Provide Case Studies: Go the extra mile and search for similar brands who have gained a huge success through social media, clients are usually more convinced when they see similar success  
  4. Customer Service: If your brand has a customer service hotline; they can reduce their operational cost by easily solving problems online
  5. Do the Integration: make sure your printing materials are socially integrated, make sure you create customer applications to know how many customers have you reached using Social Media
  6. Make the Concept Clear: Make sure you tell your client that the ROI is not for the Social Media activities as a whole its calculated for each Social Media activity/campaign
  7. Build on Relationships: Focusing on ROI doesn’t mean you neglect your community building and public relationship, make sure you always provide engaging content and work well on competitions and giveaways. When customers are loved by the brand, they feel more attached to it and eventually go and buy it and they can even recommend it
  8. Why Giveaways: Giveaways usually thank customer for their loyalty, by giveaways your customers will always keep an eye on your social assets and thus your brand, they will always be encouraged to engage more, share more and thus talk about you more

That’s it for today, wait for more and if you have any questions Please let me know!

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