the reach of social media

Previous Sememsters

We have learned so much over the semester in regards to what social media channels to use and what social media channels are going to attract engagement.  But all of these integrated marketing efforts don’t mean anything with out a specific goal:  making money. 

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In a previous blog, I touched on the affects of social media on intimacy.  Is social media making us less likely to interact with people on a daily basis?  While I still feel that in some cases, yes it is, I see Tufecki’s point of view that social media can also break down barriers of communication as well.  Social media allows us to connect with people in other cities, states, and countries that we might otherwise be unable.  Military families are a perfect example.  Using Gchat, or Facebook chat, Skype, and YouTube and other sharing platforms makes communication a click away, as opposed to weeks away via post.  A close friend who is getting married this weekend has kept me apprised of her wedding details all through social media.  From the bachelorette party to the details for wedding day hair and make up, everything was communicated through some sort of social media.  However, we must be able to capitalize on this overwhelming presence of our lives on social media. 

Seiter tells us that having a clearly defined goal of a social media campaign is the only way to measure the success of it.  For example, a holiday push on social media for a collaboration with boudoir photographers (offering a discount on lingerie to anyone who books a photo shoot with them) can only be measured through the amount of people who book and cash in that discount.  Unfortunately for me, clicks and likes do not always equal sales.  However, I can use analytics to assess which merchandise is receiving the most clicks and likes, and in turn use that to choose which products I order for the store. 

Aside from hopefully generating more sales, the real value to me in social media is creating brand value and awareness. Popescu gives us five tips to increase my ROI, while at the same time, continuing to build an expression of brand value:

Engage:  continuing to talk to my customers, ask them questions, include them in the buying process.

Be authentic:  using my real voice, having fun with social media, not trying to market The Pink Petticoat as something that we are not. 

Keep content premium:  sharing content that reinforces The Pink Petticoat brand, expanding the content shared beyond lingerie, promoting overall sexual wellness as well as romance. 

Integrate real time apps:  using Twitter and Instagram to share the action at the store during events, buying trips, holidays season, etc. 

Experiment:  not being afraid to try new things on social media, holding contests, giveaways, and fun new things that attract engagement. 

What are other ways I can measure ROI on my social media posts?

Should my business goals for social media be more that measuring profit?

Do you use social media to foster relationships with people that you would otherwise fall out of touch with?

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6 thoughts on “the reach of social media

  1. Hi Lesley.

    Generally speaking, there are two types of ROI: Anticipated ROI and Actual ROI. Anticipated ROI is the ROI that is reported when a business is pitching a new client and actual ROI is reported during the tenure.

    According to SEO consultant Himanshu Sharma, Anticipated ROI = (Anticipated Revenue from SEO efforts – Proposed Cost of the SEO Project)/Proposed cost of the SEO project

    Before you calculate anticipated ROI, you should know the average monthly visits, E-Commerce Conversion Rate of the website and average order value for the prospective client.

    Actual ROI eventually determines future engagement with a client.

    According to SEO consultant Himanshu Sharma, Actual ROI = (Total E-Commerce Revenue through SEO + Total Goal Value through SEO)- cost of running the SEO campaign/ cost of running the SEO campaign

      1. Hey Lesley.

        I think that all types of ROI, including social media ROI, can be quantified.

        Some businesses have difficulty quantifying the ROI of social media even though it’s easier to track than traditional media. If a potential customer views an ad on TV or reads an ad in the newspaper and then visits your store, can you accurately validate their reason for visiting you? Can you accurately validate the reason they came in was because of a TV, radio, magazine, newspaper or billboard advertisement? Maybe they’ll tell you. Maybe they won’t.

        If you’ve set up your website or social media platforms correctly you can use web analytics to validate the source of traffic to your online store. If 476 people visited your site the first week of November because of a Tweet or Facebook post you can quantify that data so long as you monitor it.

        The same is true with ROI. If you gain 10 new clients each day because of a blog post or gain 10 new clients at $6,000 a month or $150 per hour because they loved your products that’s your quantifiable ROI.

  2. Hi Lesley –

    I think that social media is much greater than any bottom line equation. The relationships you have the opportunity to build with your fans/customers via social media is unlike any other. I think that while your business’s bottom line night always be at the center of everything you do, your relationship with your customers should go hand-in-hand with that equation.

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