A few short years ago, marketers called social media the free marketing format. The reality is that, while some social media marketing platforms may be free to use, they were NEVER free since they required employee effort and other resources.
Instead marketers should measure improved return on each marketing dollar invested in social media. This requires tracked all resources used including employee time (across departments), special services and outsources support. 51% of marketers benefit from social media marketing to reduce marketing expense.
This means that marketers must become better at capitalizing on each social media interaction. Think beyond vanity metrics such as likes to engagement and hand raisers.
Change your thinking from increased interaction to more effective interaction, even if this means additional resources are needed for better quality content or supporting social media advertising.
Actionable Social Media Marketing Tips:
- Track your full breadth of social media activities. This means employee time (across disciplines such as marketing, creative and technology), resources and outsourced support.
- Create more effective and reliable metrics to track your social media investment. Work with your finance / analytics team. With regard to expenses, this means return on social media investment and sales and leads attributable to social media.
- Augment your social media optimization interaction with social media marketing. Many platforms are starting to test and rollout advertising products. As a result, your natural social media traffic and reach will get eroded. Therefore add a small budget to test advertising.
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