How Social Media improve Business ROI
Conversion of time spend on social media into a brand premium makes it a best program for social media, through which your return on investment can be more than 4x as compared to ROI of a TV commercial. Most of us realize that the time we spent with our family and friends is precious.
When it comes to degree of happiness of an individual, an hour more spent with friends gives self contentment equal to an hour’s extra salary. We spend our hourly salaries on hours we spend with friends. We would certainly prefer working at office rather than spending our time with friends if we enjoy it more. Bars in this case are perfect example of the way social media works with Facebook fan pages, Twitter accounts, Youtube channels, blogs and boards on Pinterest.
Staff tells visitors about your specialty
Online marketers work just like bar waiters do, they promote your brand on your behalf. This strengthens your online image as well as your expertise.
Introduction for strangers
Either waiter in a bar or online marketer’s like tweeters, bloggers both establish your brand image for strangers with branded content.
Discussion among friends
People generally consume articles with branded content, like them and share them with friends. Some comment on these articles and turn comments into chat like conversations about the topic. TakeTOMS shoe for example they gave one pair of shoe to a child in third world country on each pair they sold. They then wrote articles and released footages of delighted children. This gave a thoughtful message to its consumers and brand also gained matchless sympathies.
On the other end when a customer say Michael gone to a bar wearing TOMS, everyone knows what she is wearing. She meets a friend while conversation tells him about the brand’s contribution to society this gained acquaintance for your brand and a stranger heard Michael while talking and purchased this shoe.
This leveraged consumers for TOMS who are willing to pay for it and this is a return on investment in social media program. But to keep track of your success of social media program you should tab on five touch point which are key factors involved in ROI of program.
Count of Touch Point
You should keep track of likes per fan and retweet ratios of your friends and fans. How many times your video has been viewed? How many times the blog has been shared.
Pining, repining, tweets, likes, comments shares all take a certain time to go viral, while it also take around 5 seconds only to digest that shared stuff on Facebook.
Level of Trust
One should also asses the trust level among brand and its consumers, how much intense the intimacy level is? A good measurement factor is comment to like on Facebook and retweet to tweet ratio on twitter by fans and friends.
This also has impact on the emotions of consumers and brand contributing to society engage more consumers sentiments
ROI in social media marketing program is 4 times greater than an ordinary TV commercial because consumer on each purchase pass content to their networks. The impact on brand is directly proportional to the relation between sender and receivers of content.
So on ending node, if you want your product to be a leader of market with bulk revenue generation you should go for social media marketing to generate max ROI.