Your B2B or B2C social media marketing efforts are likely to be technically perfect. The most popular social media platforms have been around for a few years, and many firms and agencies have figured out and even documented a social media marketing strategy based off of research or experimental data that they have collected themselves. However, week after week, month after month, your ROI doesn’t reflect the efforts that you have taken to develop your logically sound social media marketing plan… and you are not sure why. Let’s break it down to find where you might have made your social media marketing mistake.
Kevan Lee from Buffer Social puts it like this, “There’s a difference between knowing what the stats mean, and knowing which stats are meaningful.” In other words, your social media marketing plan may be logically sound, yet irrelevant… and you may be missing an essential piece of the puzzle when it comes to knowing how to use social media for marketing.
Jay Baer’s quote seems to eradicate the question, “What is Social Media Marketing?” and consider the deeper motivation behind using social media to reach your audience. A large volume of followers, likes, and favorites are where potential customers start their journey, but these numbers mean nothing if you cannot get your fan base to convert into customers. How do you cut through the noise to figure out what is meaningful?
Jay Baer’s analysis of the social media metrics that most people are often considering offers a deeper look into which numbers are true KPIs, and which stats may be distractions. The four categories consist of:
Based off of your goals, you will be able to determine which of these categories really matter to your company. If the end goal of your efforts is to increase your sales revenue, then you should build your social media marketing strategy around customer conversion. This may seem backwards, and counter-intuitive. In The Lean Startup by Eric Ries, Ries describes a build-measure-learn loop that is used when developing business ideas. The trick to mastering this loop is to approach it backward, starting with identifying what you want to learn, figuring out how you will measure that knowledge, and then building your new idea. Similarly, you must reverse-engineer your social media marketing plan if you would like to create meaningful engagement with your prospective customers.
When it comes to the Dos and Don’ts of marketing, it can be a bit overwhelming to evalute every piece of your complex strategy. Have no fear, use the free tool below to help evaluate your social media marketing and much, much more. With tailored solutions from Enfusen for your company, the only thing you have to lose is the potential growth that you could be experiencing today!