As of today’s trend, we need to be on social media, however, the thing is its assurance that it can give any impact on the business.
Even traditional and old school business leaders are already welcoming the trend of digital marketing. And for them, risking business into the world of digital marketing or social media platform is one of the challenging perceptions to consider. This is very much true for small or new business players that are collating new customers from social media.
Generally, the ROI in putting your business on social media comes from acquiring customer or generating new revenues. However, usage of the social media do not applies best on the latter.
Focusing your social media’s ROI
Social media is the best way or platform to cater customer service and brand-equity. Basically, the main purpose of putting your business into social media is to build a strong rapport with customers over the globe via real-time conversation. Furthermore, you have to analyse the ROI based on the ability of the social media to make customers become fans.
Ways to measure the social media’s ability in customer relation and brand improvement
In order to monitor and check the capability of the social media when it comes to customer relations and brand improvement, below are some of the factors to evaluate.
1. Products value overtime
Prior to launching a social media marketing, it is better to measure and check the frequency of the order in average and the total purchase per year of a customer. This is also applicable after the launching of your social media strategy.
Doing this may help in setting a baseline for the effect of social media over the lifetime value of the customers. Moreover, customers may also give their feedback and a well-written review about your product or customer service strategy through this platform.
2. Overall operational costs
Social media offers lots of benefits to all kinds of businesses out there. One of which is responding to customers in real-time. Basically, this has replaced the inbound customer service call program of the organization.
The Bottom Line
Social media ROI monitoring is very challenging and a little bit difficult compared to other business platforms. But, trying to look back for sometime and measure the effect of social media on your brand, you will be able to see how social media has influence the trading and marketing of your business.