How effective is social media?

If you use social media for marketing, do you know how effective it is? Chances are, it is not as effective as you want it to be.

 

The main goal of business is to create sales and generate revenue. Your marketing plan should be set up do just that. Most consumers expect that businesses will have a easily navigable website and social media presence, but putting a lot of marketing dollars toward that may not be the best use for those dollars. 

 

Any marketing plan and campaign should be evaluated for effectiveness. Knowing how many sales or new customers are created for each campaign is vital to see where your consumers are coming from. When posting content and ads via social media, the same applies: how many potential customers did it reach, of those, how many were converted into actual customers, how many new customers were created and how much did they spend. Knowing the answers to these questions will help to evaluate the effectiveness of your various campaigns.

 

Social media is an easy way to reach your current customers and creating content can be effective in setting your brand apart, but be wary about thinking that it is the golden marketing ticket. Only by evaluating the effectiveness of your platforms can you truly tell how beneficial they are in generating revenue. And revenue is what pays bills.

 

https://hbr.org/2015/03/is-social-media-actually-helping-your-companys-bottom-line