ROI stands for Return On Investment and applied within the context of social media, it’s the return on investment from your social media activities and expenses. This goes for engagement, followers, impressions, shared posts, saves, clicks, comments, and paid ads.
So which social media tactic give you the best ROI? Let’s break it down:
Conducting extensive research to understand your audience:
Before you do anything you need to do research! If you don’t do research, then you take the risk of spending time, money, and resources on the wrong channels. This can lead to missing out on more profitable connections down the line. You want to be hyper-relevant when you launch the campaign, and not be a jarring ad that interrupts a customer’s life. Having a well-timed, well-targeted experience will get people to engage instantly.
Set Clear goals & Create A Social Strategy For Your Brand
If you don’t have clear and defines goals set then you it will be difficult to achieve the results you want across your social platforms. You need to ensure that you’ve discussed an appropriate strategy to get you there with all responsible parties. Various social media tactics can be applied differently to each of the platforms, meaning they’ll produce different outcomes. So your goals need to be determined up front to ensure they’re aligned with your social strategy
Once you’ve determined your social goals, you’ll want to create a consistent posting strategy so your audience knows when, and how often, they can expect content from your brand
Video Content & Testing Out Vertical Videos
Vides are loved by all even though it seems like most brands mostly rely on images when advertising their products or services. This a mistake and you are missing out on your reach. Did you know that Facebook is wanting to become a video-first platform that favors pages with video content, but for most brands, it is [primarily] a photo-sharing platform.
To stand out and increase ROI, consider how you might incorporate video into your social media efforts. Additionally, consider testing out different types of video formats across your channels. For instance, Facebook offers brands the opportunity to create vertical video ads for the mobile-friendly user. Vertical videos can also increase your clicks.
Re-using content across channels
You want to spread your message across multiple channels. This tactic is lost on most social teams as they tend to create content in silos where they tell one message via an Instagram post, and then create entirely different materials for a YouTube video or Tweet. This tactic requires a lot of time, effort, and resources — which can become frustrating when you don’t see the ROI you need from these channels.
To change this, stop creating content for content’s sake. Instead start focusing on creating content that educates, entertains, and delights and can be broken down and amplified across all other channels. When you focus on creating engaging content that can be used in multiple ways across channels, you’ll see improved ROI and ROE (return on effort) across your campaigns — including your social activation.”
To repurpose your content across channels, perhaps you post snippets of a full YouTube video on Facebook or Instagram. Alternatively, maybe you take text from a blog post and re-post on your channels to add value from your existing content, repurpose user-generated content across channels.
Social Commerce
Social commerce is the ability to purchase from a brand within a social platform without leaving the site. Examples include shoppable ads and chatbot checkout. Social commerce is a great opportunity to increase ROI on social channels.
As social media continues to become the primary communication channel for brands and consumers alike you must seek new ways to engage with audiences while keeping other goals. Social commerce not only provide more seamless buying experiences for customers, but also equips marketers with the ability to show direct attribution and ROI as a result of their efforts.
Leverage Meta’s Advantage+ Shopping Campaigns
Meta’s suite of platforms — namely Instagram and Facebook — packs a huge ROI punch.
While each social platform has gone to great lengths to improve their algorithm over time in order to be more intuitive and automated, none has done more than Meta has. With Meta’s new tool Advantage+ Shopping Campaigns, brands can find new customers in places they never even thought to look. Their Advantage+ Shopping Campaigns largely relies on AI and automation to find the right audience for your ads (as opposed to manual targeting). On top of that, it even adjusts ad formats to understand which format performs best.
In order to take advantage of this new tech you will need to employ as much creative differentiation as possible. For example, add old creatives into the mix, or cut up longer videos into smaller, more digestible clips. This gives the algorithm more data to determine which campaigns are effective.
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