Measuring Your Social Media Profitability

Measuring Your Social Media Profitability

Wondering if your social media marketing efforts are paying off?

Reviewing your budget and calculating your ROI are important aspects of a social media audit but are often overlooked. While many businesses and marketers have a firm grasp of money, calculating total ROI from social media is more difficult, especially when you’re looking at purely social ROI instead of financial ROI.

To tackle this, pull up all of your records and look at how much you’re spending on social media. Potential costs include:

  • Ad spend
  • Consultant or agency fees
  • Third-party analytics and management tools
  • Contest software
  • Apps and tools to create images
  • Employees who help with your social media efforts
  • Professional photographers or equipment to take photos

Compare the costs and results. If you spend $199 on contest software and generated 304 leads and 102 conversions on a $20 per month subscription, for example, you’ll be able to see that ROI clearly.

When examining third-party analytics, management, and social listening tools, look at both the costs and benefits you’ve received. Have these tools made you more efficient? Also, look at whether they’ve helped you generate better results from your content.

Need help with your marketing?

As a small business owner, you wear many hats. Why not start the new year by letting Advantage Marketing take those marketing tasks off your plate?  Contact us for an complimentary initial consultation today!

Automating Your Business

Automating Your Business

Automation is considered the next major frontier in marketing.

But are you extending your business’s automation practices far enough? If you’re going to make automation work for you you’ll need to put in the front-end effort to set it up. Get started with these tips:

Put Data in Its Place: If you want to take advantage of the full breadth of marketing automation options; spend the money to invest in a powerful CRM system.

Break It Apart: Taking apart the information feeding into your CRM will allow you to see how your current marketing campaigns are working and hone them for improved performance.

Set Benchmarks: Marketing automation is a multi-phase process and you should set benchmarks that can guide you and let you know how close to fully automated your business’s system is.

Automate Personality: You need to develop customer personas. These are templates that have particular perspectives on sales, customer needs, and that embrace a tone that’s limited to specific sales groups.

Remember: Embracing automation also means smoothing workflow, improving team management, and helping sales managers shift their responsibilities to more productive activities than sheer data wrangling. (smalbiztrends)

Need help with your marketing?

Get the Advantage Marketing Total Online Presence audit today!

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Top 15 Social Media Tweets for 2017

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