SOCIAL MEDIA ROI
SOCIAL MEDIA IS JUST AN ONLINE CONVERSATION
A lot has been said about the Social Media Revolution in the last couple of years. The vast majority of regular internet usersÂ is on Facebook, Google+, or to a lesser extent, Twitter. Leveraging social media is another cost-effective way that small or medium businesses with limited budgets can engage with potential clients and stay relevant as the paradigm shift to a virtual world continues. Every advertising dollar spent on Facebook can be tracked to determine an accurate ROI, and every piece of content has the potential to reach thousands at no additional cost.
“Did you see this?”
An important and notable feature of the social media landscape is the ease with which people can share information. Ultimately, social media is what is used to describe websites designed to connect people and allow them to easily share ideas online. People’s desire to share with one another can be a powerful force for driving business. The best example of this is a “viral” video. Someone sees something they enjoy or find important and share it with their network of contacts. Some of their contacts re-share the message, spreading it far beyond its original viewer. The network in effect amplifies the message until it is seen by millions, often bringing a fortune in leads and interaction. We do not claim to create viral content, and there are definitely businesses which are not served by popular exposure. None the less, leveraging the the virtual word-of-mouth potential of social media is not something to be ignored.
Paid Search on Facebook
When Facebook launched its IPO, many investors speculated how the company was going to justify it’s value in the marketplace. What many critics overlooked was the importance Facebook interaction played in its users lives. Many people check their Facebook feed a dozen or more times a day, and each time are presented with new content. Facebook presents its advertising content in the same place as a grandmother’s birthday, or the announcement of a new-born. For a fraction of the price of a billboard, your business opportunity is presented contextually to your potential client. Targeting is local and based on a variety of factors you control, from gender and other demographic data, to geographic location. Someone posting about a new room addition they are planning for their house will see ads regarding home improvement. Facebook ads have higher rates of conversion than traditional AdWords (discussed in Paid Search) and often a lower cost-per-click (CPC). If a user sees your ad and ignores it, you pay nothing and you’ve made an impression on a potential future client for free.
Social Media ROI
Social Media, more so than any other form of marketing, has a very low cost for a tremendous upside potential. The main reason behind this is that social media is nothing more than content being shared by users. To exist, there has to be something to comment or talk about. Facebook and others understand this is the foundation of their business model and encourage content creators by making the distribution of content free or very low cost. This translates into a low-cost method for you to reach millions if your content is valuable. Many people love to share deals, sales, tips, and tutorials online. Start a conversation with us to see how Verum can help you.