Thanks to all who participated in the ManageFlitter #SocialROI Twitter Chat on Tuesday, 5th June 2018.
Details of our next Twitter Chat:
Guest: Steve Kearns
Date & Time: Tuesday, 12th June 2018, 5.00pm EST
Channel: #SocialROI Chat
Click here for more information about our Twitter Chats.
Below is a curated version of the Twitter Chat with Winnie Sun.
From the MF Design Lead Question:
- How can social media be used to secure new business leads?
- As a rule of thumb, what percentage of your budget should be allocated to social media marketing?
- What is a value proposition and what role do they play in paid social media marketing?
- What are some effective methods of optimising your paid social media content?
- Written content can be resource heavy and costly. What are some budget-friendly alternatives marketers should be considering?
- In which instances should marketers apply the ‘less is more’ philosophy to their social media marketing?
- What has your experience with investing money in social media marketing been like?
MF Design Lead Answers
Aa) We are in the business of social media. Allocating significant budget to social media marketing just makes sense. #SocialROI— Kate Frappell (@katefrappell) June 5, 2018
Ab) One way we save money is by taking advantage of advertising deals on Twitter and Facebook ads. Most recently Twitter had a promotion where $250 of ad spend in the month of May was rewarded with $250 of credit for the month of June. #SocialROI— Kate Frappell (@katefrappell) June 5, 2018
Ac) That being said, most of our budget is spent on people power (aka: The team) rather than paid ads. We tend to spend time and effort on specific marketing initiatives such as the #socialROI eBook. Consistency in our marketing is something we could improve on. #SocialROI— Kate Frappell (@katefrappell) June 5, 2018
A1. For social media to work well for businesses, it’s best to start with a strong, profitable business. Social media's the amplification tool to a smart company. It allows other potential clients & partners to know that you’re present & ready to take on more business. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A1b. Give before asking. Look at companies & people who are complimentary to your business & ask yourself: how can I support them & add value to them? When you’ve done the homework, it’s easier to see if you can collaborate in some way to increase ROI for both of you. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A1.— Ai Addyson-Zhang, Ph.D Digital Learning Evangelist (@aiaddysonzhang) June 5, 2018
- Social media is great for building relationships and trust, which lead to business leads.
- Gone are the days of using social to purely promote content.
- Social is here to cultivate communities & relationships. #socialroi
A1. Social media serves as an extension to your business and brand. Build relationships and networks online to help differentiate you from the rest of the crowd.— Karen Freberg, PhD • #SMprof, Consultant + Author (@kfreberg) June 5, 2018
Engagement + Social Care + Focus On Relationship Sustainability / Growth = Impact#socialroi https://t.co/qACbk1mRcz
A1 Know your audience and provide the content they want. Capture emails so you can contact with more info/offers. #SocialROI— Lucille Fisher Kindness, Compassion, & Marketing (@sageandsavvy) June 5, 2018
A1: Social media is a great tool to acquire business leads because you have an opportunity to find your target audience through advance search features. Then, once you've found them, you can build/maintain a relationship with them! #SocialROI pic.twitter.com/pySUQzlv27— JMatt (@JMattMke) June 5, 2018
A2. Smart businesses should spend a large % of their profitability on marketing & social media budget. But, go in it with a clear strategy and if you’re not sure where to start - hire someone who you can learn from first. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A2b. Bringing in new business has to be a chief concern of any viable business. Most social media tools aren’t that expensive, it’s more of a time & people investment that is most valuable & the biggest amount of your budget. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A2c. The emphasis here is on profitability. You need to spend less if you’re not yet profitable. Only spend more when the earnings justify it. Otherwise, focus on your core business and figure out how to increase profitability. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A2. I think social budgeting should be aligned w/ what the budget is for marketing. Social is transforming into a key part of marketing, and more needs to be allocated to it each year. #socialroi https://t.co/WraBpDnXhV— Karen Freberg, PhD • #SMprof, Consultant + Author (@kfreberg) June 5, 2018
A2: personally, I think it all depends on what you’re trying to accomplish. However, the attention is on social so it’s wise to invest a little bit more into these ads right now. #SocialROI— Maria Marchewka (@_MariaMarchewka) June 5, 2018
A2: For a soloprener, you can either spend time or money on it. Once you get to a certain point, I suppose you can outsource #socialroi— Vicky Warren (@VickyWriting) June 5, 2018
A2: I didn't know I had a 'budget' - haha. I think many marketing departments in their agencies/companies have limited to non-existent budgets.— JMatt (@JMattMke) June 5, 2018
But social media can fall into advertising (i.e. Facebook ads).
As @katefrappell mentioned earlier - PEOPLE manage your SM! #SocialROI
A3. A value proposition is what you can do for others. This is the heart and soul of your social media activities. What do you hope to give out to others in social media - consistently - that will drive them to want to get to know you better? #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A3b. My motto: Focus just on the value part and the rest will work itself out. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A3: value proposition is EVERYTHING. You need to make it worth the consumers’ while to engage with you in the first place. Entice them at first, hook them and make them stay with valuable content! #SocialROI— Maria Marchewka (@_MariaMarchewka) June 5, 2018
A3) When you pay for ads, you are measuring the success by how much engagement it receives. Value propositions incentivise the viewer to take action. #SocialROI— Kate Frappell (@katefrappell) June 5, 2018
A3. Value Proposition is that competitive advantage that makes your product or service to stand out over the rest of similar stuff in the market. The main role Value Propositions play is acting as a converting trigger in your marketing strategy. #SocialROI— Angie Perez B (@Angie9z) June 5, 2018
A3. Value should be the driving factor of ALL work presented, otherwise why are you even putting it out there? Be valuable and you’ll get a return. Use promotional budget to ensure you get in front of the people to whom YOU will be the most valuable. #SocialROI https://t.co/KsI5QkWSz6— Christine Gritmon#RoadToSocial (@cgritmon) June 5, 2018
A4. Introduce value. Align with brands you believe in. Never take your audience for granted. Protect & respect your community. Work with partners who believe & will follow your lead. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A4b. Every campaign needs to serve all parties: the brand, your community, & lastly, you. If it can’t do that, move on. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A4) Don’t screw up by using crappy visuals. Make sure they are high res, clean, communicative and eye catching! #SocialROI— Kate Frappell (@katefrappell) June 5, 2018
A4: Always be testing. Have a few ads running to see what is performing best, then update your ads based on what's working well. Make small variable changes for ongoing campaigns. #SocialROI— JMatt (@JMattMke) June 5, 2018
A4.2: ALSO, make sure that the links you provide on your ads is to a specific page (ideally designed for the campaign) and not your homepage!— JMatt (@JMattMke) June 5, 2018
This is often overlooked, but makes all the difference to your conversion rates. #SocialROI
A4: Catering your campaign to one specific audience. Casting a wide net when it comes to paid social might not be the best idea financially. Instead, niche down and create content FOR that niche. #SocialROI— Maria Marchewka (@_MariaMarchewka) June 5, 2018
A4: See what works organically- promote that. Check stats like a hawk and adjust. Learn paid options well and know what is available (eg custom audiences). #socialroi— Tim Lewis @ Stoneham Press (@StonehamPress) June 5, 2018
A5. Ask your audience what they want from you. What do they enjoy receiving from you? That’s exactly what you should be delivering. By not wasting your time trying to figure out what your audience wants - you’ll save money. Then once you know, focus on value & quality. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A5. We are really investing heavily in video content and when done properly is probably even more expensive than written content. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A5. Focus on making your blog a content hub because people are searching for valuable information #socialroi— Cheval John, Social Media Professional (@chevd80) June 5, 2018
A5B. The ironic thing is search engines are starting to become the driver of increased blog traffic. If you can deliver value to your readers, you basically win #socialroi— Cheval John, Social Media Professional (@chevd80) June 5, 2018
A5C. You can even repurpose your live stream videos into a podcast and use your blog as a recap to save time and increase the chances of more readers finding your business website #socialroi— Cheval John, Social Media Professional (@chevd80) June 5, 2018
A5.— Ai Addyson-Zhang, Ph.D Digital Learning Evangelist (@aiaddysonzhang) June 5, 2018
- Live videos. It is so cost-effective! People LOVE unfiltered & unedited videos.
- Learn to repurpose your existing content. You don't have to create new content all the time. Be strategic. #socialroi https://t.co/IMauBmoX9n
A5) I think marketers can get creative with visual mediums. Keep the written content to a minimum and focus on SHOWING more through video, photography, illustration etc. #SocialROI— Kate Frappell (@katefrappell) June 5, 2018
A6. The golden rule: don’t sell on social. As businesses & business owners, we are certainly there to bring in business, but if you’re real, you share like you would in person, the business will follow. Social media is sharing, but the right type of ‘social’ sharing. #SocialROI pic.twitter.com/mFJpMvdUXI— #WinnieSun (@winniesun) June 5, 2018
A6b. Oh, this is a tough one that even we haven’t figured out the right formula to. With social media platforms and trends moving by the minutes, I don’t think you can really do ‘less is more’ right now. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A6 Less self promotion! Provide value an solve your target audience's problems. #SocialRoi— Lucille Fisher Kindness, Compassion, & Marketing (@sageandsavvy) June 5, 2018
A6— Zala Bricelj (@ZalkaB) June 5, 2018
Think quality + strategy all the time.
Value people's time & focus - don't flood them with content, tweets, offers ALL the time.
Be strategic & mindful with how you approach conversations - especially in business.#SocialROI https://t.co/VN2BEkc45O
A6. We can't spend all day on social media. Plan schedule for posting, responding and ROI leads. Look at stats for best times to be on your platform. Spend more time developing social to personal contact. #SocialROI https://t.co/UTpknBGHrq— Brenda Kyle (Green) (@BrendaKCArtist) June 5, 2018
A7. Investing in social media is like investing in any new skill - you need to read a ton, learn from experts online & in person, then practice a LOT! You’ll make mistakes & spend where you shouldn’t in the beginning, just see this as part of your social media tuition. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A7b. Social media marketing, when done right, isn’t inexpensive. It takes a tremendous amount of time and eventually money. It’s best that your day job can financially support your social media activities. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A7c. It’s a marathon: if you can keep at it, continue to add value and build the right reputation/relationships, social media can eventually bring you what you hope to achieve. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A7d. A lot of people are on social media, but only a small percentage of users really bring in the income they want from it. #SocialROI— #WinnieSun (@winniesun) June 5, 2018
A7: I enjoy the self-competition of seeing how low a cost per result I can get with different types of ads (this is part of why I love video ads: cost per view can get crazy low!). #SocialROI https://t.co/FChDPQ3NtF— Christine Gritmon#RoadToSocial (@cgritmon) June 5, 2018
A7 Investing money in the form of TIME into my social media marketing has been life-changing. #SocialROI— Marisa Cali (@allthesocial) June 5, 2018
A7: I am all for investing money in social media, I LOVE (love, love) the analytics that come with the ads. You can see reach, impressions, engagement, conversions... all helpful stats that you can easily translate for executives. #SocialROI pic.twitter.com/ZTvELOrHoa— JMatt (@JMattMke) June 5, 2018
A7.— Ai Addyson-Zhang, Ph.D Digital Learning Evangelist (@aiaddysonzhang) June 5, 2018
- i am a lifelong student. I invest $$$ in learning opportunities from industry experts (courses, books, services) & conferences
- i once heard on a podcast that you need to invest in six-figures before you reach seven. it has a good point.
- invest in myself#socialroi https://t.co/HZw6ak2EeN
We hope the above has provided some useful information.
Join our next #SocialROI Chat next week on
Tuesday, 12th June 2018, 5.00pm EST.