Wednesday, October 22, 2014

Maximize ROI on Social Media Projects

From guest author Tate Handy

As social media continues its march towards digital marketing domination, companies are experimenting with new and exciting ways to market themselves using social media. One of the most effective ways brands have discovered for engaging with customers is through social media promotions; although these efforts are fairly simple to set up and run, it’s vital to keep your marketing objectives in mind to maximize your ROI.

Here are three simple steps to help you measure and optimize the ROI of your Facebook promotions:
  1. Set Your KPIs. Determine your Key Performance Indicators (KPIs) before you do anything else; on Facebook, these might include distribution, interaction, influence, lead generation, or conversion. As tempting as it might be, “likes” are typically not relevant to your campaign success; don’t include them as a KPI.
  2. Measure Your Efforts. According to Greg Macek, Marketing Resources’ VP of Digital Strategy, enlist the Facebook Ad Conversion Pixel as a tool to get an accurate picture of your Facebook ad success.

  3. Maximize Your Return. This involves three mini-steps. First, pick a prize that’s relevant to your business and include its image in your post. Next, write your promotional post; keep it simple, include the prize and its value in the title, and use bullet points to explain how to enter (link to page on your website that has the official rules). Finally, promote your sweepstakes using Facebook as well as other social media channels, you website, industry influencers, and Facebook Ads.
With social media contests, you get to engage with your customers in a fun way that ultimately ends with making the customer happy; by measuring and maximizing your ROI, you’ll walk away happy too.

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