After doing something for five or more years, tangible accomplishments should be obvious. Otherwise, why do it? However, according to The CMO Survey, nearly half of marketers cannot prove the impact of their social media investment. Only 15 percent say they can show quantifiable impact related to their social media expenditure.
Think about that for a moment. Half of businesses using social media do not know if it’s beneficial.
If you are part of the 15 percent that have it figured out and it’s working for you, awesome, you don’t need to read any further.
If you are in the other half – the half struggling to show ROI for social media investment, there are some things to think about that may help you fix that.
Is your target audience on the same platforms you’re using?
Most reports claim that over 80 percent of people are on Facebook. But your target audience may not be. In a 2019 Meister Media Use Survey, only 40 percent of farmers, for example, use social media daily or weekly and just 25 percent cite social media as useful regarding purchase decisions. Yet most people in agricultural marketing we talk with cite social media as their main tactic to reach customers. That’s just one example, other industries we work with at Axiom Marketing also have reported data in this range among their audiences.
Do you truly understand what your audience wants to see?
If you are not engaging with your audience to a level that’s making a difference, you’re doing little else than talking to yourself. Think for a minute. When was the last time you surveyed your customers to find out what, how and when they want to hear from you? A simple email to your customer list with a link to an online survey tool, like SurveyMonkey, makes it easy to do. Use what you learn to align your social media program to your audience’s preferences, including, adjusting your social media strategy, what platforms are used, optimal posting frequency and content development.
Do you have a bunch of extra time?
Without data, it can feel like you’re shooting arrows at a target in the dark. The process can take much longer than necessary. Even with reliable data, be prepared to spend time testing. Testing messaging. Testing imagery. Testing paid placement. Several approaches will be necessary until you’ve fully optimized social media to engage your audience. Be prepared for some time investment to get things right.
Lastly, maybe social media isn’t right for your business. There are many approaches to digital marketing these days. Social media is just one piece of the mix. Perhaps there are more ways to connect with your prospects and customers using an optimal mix of digital marketing components. We can help you determine your best strategy to engage your digital audience.
Read more about social media in this recent post, Delivering Social Media Results.