Has somebody asked you this question before- What is the ROI of Social Media? Are you wondering how to measure the ROI of social selling? Its benefits? One thing we all can acknowledge is that, ROI is the king of the castle it plays a major contributing factor towards your strategy.
There is a specter hanging over brands mind, if their Facebook is really driving sales? Is all the tweeting paying off? If they should set base on Instagram, LinkedIn? Is Google+ still for techies? Here we have tried to come up with a nice perceptive on what should be your ROI from Social Selling or Social Media. Before I jump to numbers/stats about the ROI check this video by Gary Vaynerchuk.
Makes sense? Heard that, What’s ROI of your mother? It’s kind of funny but at the same time true as well. Have a look at these now-
- 72% of consumers begin their product/service research on Google search. Make use of effective keywords so you show up in the search index, that too on the first page so the chances of your website getting hits increase.
- 80-95% of your buyer’s decision is influenced by online reviews; this just shows the importance of social proof and a large role that it plays. You must tap into its potential to build trust within your consumers, which in turn then pushes your product.
- The break-down of companies which agree, disagree and uncertain about measuring their ROI. 28% disagree with measuring their efforts, 30% are uncertain and the remaining 37% agree with measuring their success.
- 89% of businesses report increased exposure and 75% report increased traffic as top benefits of social media. It just shows social media is the only way to go and it is not going anywhere anytime soon!
- More than half of organizations who’ve been using social media for at least 4 years report it has helped them improve sales by 64% and it is reported in the next 5 years it will go up to 77%. It truly shows that social media has bypassed the traditional means of selling.
- More than 3/4th of salespersons claim that they have tapped on the potential of social media to outsell their peers who still haven’t set base on this channel.
Here is the infographic that talks all about it!
Are you still not utilising social media to grow your brand and generate leads, then it is time to take the leap! Social media now not only holds a pedestal alongside with traditional media, but in some cases it even bypasses it. You should strategize your marketing plan for social media effectively, and track its results to see if your efforts are paying off or not! The bottom line is your social media ROI needs to contribute to your company!