Maximizing ROI on Social Media

By Jonathan Baker, with insights from Christina Botte

Ah, social media marketing. So many brands. So many ads. In this sea of platforms, which types of ad are making a hit with consumers—and why?

The return on investment (ROI) in social media is more important than ever

There is so much advertising on social media, it’s taken for granted that a brand success is assured if it appears on one or more platforms. Take nothing for granted! A recent study in HootSuite listed return on investment (ROI) as among the most important of current trends in social media marketing. This study points out, however, that many brands are strategizing on social in the wrong way.

Too much self-promotion

The HootSuite study noted that 68 percent of marketers have concerns over ROI in their social media strategies. Complicating this that these marketers place too much focus on over-promoting their brands to potential customers. And, to further aggravate this situation, nearly half of all marketers publish updates about the brands they’re promoting multiple times per week on these social media accounts.

In short, marketers are unwittingly sabotaging their efforts at enhancing ROI on social media, as affirmed by Christina Botte, EGC’s Director of Social Media:

“Too much self-promotion is a huge turn-off to users. The key to a solid social strategy is creating the content your followers want to see. From there, you will start seeing growth and eventually conversions.”

Remember, the user (or customer) comes first

In the ever-increasing competitive world of social media marketing where one brand tries to outdo the competition, one basic truth gets lost: People use social media as a way to relax. One of their main complaints when searching through their favorite platforms is seeing too many posts that give detailed information about what brands of any kind have to offer. (Now, remember the word “relax” above?)

For ROI, engaged users is key

As stated, social media users are looking for relaxation and a diversion on their sites of choice. They want to be engaged with the content their seeing. While on this topic, nearly 70 percent of marketers regard engagement with users as the top metric in demonstrating ROI. And the clearest way to keeping uses engaged is to entertain them.

Engagement by way of entertainment

The more entertaining a brand’s social media content is on social media, the greater the interest among users—and this equation results in higher ROI. Brands that advertise on social media should first focus on establishing a relationship with the user. Instagram, for example, has implemented a poll where users can offer immediate feedback. Establishing these first-party connections takes time, but will prove strong and beneficial for ROI.

Examples

If you are wondering what tactics you might try in entertaining potential customers on social media, EGC offers these examples that represent clients in the financial, retail, and health sectors:

As a tie-in to the most recent Super Bowl, here is fun video that was created for Jovia Financial, where staff members of the credit union had their own take on the game.

In an example that mixes entertainment with education, watch this video for WindowRama that alerts users to product offerings, accompanied by the dancing of spokesperson, Wendy Ramos.

Based in Aruba, users are offered a look at the inside and outside of Xavier University School of Medicine that should appeal to anyone interested in pursuing an education as a physician.

The social media marketing experts at EGC will help you keep an eye on your ROI for social media.

Get in touch with us to learn more.