Do You Maximize your Investment in Social Media?
Are you satisfied with your financial returns?
Would you like to improve your ROI?
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“Social Media doesn't happen by accident it is engineered”
This statement forms the basis of what it means to develop a social media program that fully integrates with your business objectives You have a plan, written or not where you are taking your business. Your objectives dictate the actions you take every day. Is your program supporting your business objectives? Integrating social media into your business model to advance a particular business function or a number of functions is fundamental to a successful social media program. All businesses have problems and we expect yours is no different. You may have considered using social media in the past as a “bolt on” activity to “get more followers” or “more likes” etc. Unfortunately these “goals” lack specificity and in many cases a social media program fails to deliver measurable return on investment simply because goals are not specific. Why you should care about ROI When you last purchased a piece of equipment or other assets for your business you undoubtedly worked through a justification program and identified how this asset would deliver a return on investment and in what timeframe. Most businesses formulate a “payback” strategy whether in improved output resulting in better margins for instance or maybe it would enable them to move into new markets and increase sales. Whatever the projected results of the purchase, the business will (should) have a clear model in place which projects the financial return on the investment. A social media program should be no different Whilst non-financial outcomes, number of followers etc are an integral part of the social media program, they simply cannot be measured in hard currency which flows down to the P&L. Is it costing you money or saving you money? Are things getting a little fuzzy? Failing to measure your ROI will result in a lack of expenditure control, unknown timeframes in which to expect return, not knowing what is working and why and an eventual lack of belief in the program across the business Your problem may be increasing sales, delivering better customer support or improving your brand image. Whatever it maybe, an integrated social media program aligned to your business objectives will deliver benefits to your defined business functions Download your FREE eBook and get started with improving your program Now! |
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Download your Free worksheets below to help you plan your social media strategy
Analyse how your program fits with your business objectives and functions.
Identify the primary goals which support your business objectives.
Record the link to the business plan, tools/resources, measurement and success criteria
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