Why You Need To Stop Thinking About ROI For 5 Minutes
You’ve probably heard the term “Return on Investment” or ROI. No, it’s not just another marketing buzzword. It’s a metric that a lot of agencies use to measure the effectiveness of their marketing campaigns. It’s looking at how many dollars you are spending vs. how many you are bringing in. It is also used to answer these types of questions:
Is what I’m doing working?
Should I keep doing what I’m doing?
In a traditional mindset, it’s certainly not a bad approach to metrics. It’s been the common sense approach for years. But, what if I told you that ROI doesn’t have to be the sole measurement that you use when it comes to measuring your brand’s social media effectiveness?
Please stop thinking about ROI for five minutes! Yup, forget about it. At least until you finish reading this blog.
There’s another strategy that’s just as important, and it’s often the most overlooked. I’m talking about IOI or Impact on Investment. In other words, what is the impact that I am making on social media? How in the heck do you measure the impact of social media? Great questions. I have some questions for you as well.
How many people does your Facebook page reach monthly?
How many conversations have you had with customers on social media?
How many stars does your Google listing have?
Did you respond to your last negative review on Yelp?
The answers to these questions is the impact that you are making on both your current and potential customers. Your social presence is a digital billboard screaming out some sort of message. If you don’t have any followers on Facebook, your billboard is probably saying, “We don’t regularly post content.” If you do post content, but no one is engaging with it, is your content fun and relevant? Or do you only use Facebook to push advertisements and promotions? I think you see where I’m going with this. The good news is that there are ways to build up your online presence while increasing brand visibility and brand awareness, which in turn leads to a positive impact being left on your followers.
Here are some great ways to impact your followers:
- Tell your brand’s story
- Post fun and engaging content
- Celebrate employee accomplishments
- Share philanthropic involvement
- Respond to reviews in a timely, and professional manner
- Reward your online followers with contests and giveaways
These are just a few examples of ways that you can leave an impact on your customer segment. While posting fun content today might not lead someone down your sales funnel tomorrow, you can rest well knowing that you have left a positive impact on them and they will remember you for it. They’ll also remember this when they need your product or services.
What kind of impact do you want to leave on your potential customers?
Optimize Social Media provides social media & reputation solutions that evolve with our clients. As social media experts we manage Facebook, Twitter, Google, Yelp, YouTube and Instagram accounts for our clients on a daily basis. We help the modern business owner implement a specialized social media strategy so that they can make more money in real life. Enjoy our blog.
