The ROI of Social Media
A lot people are diving into social media marketing but they don’t know what is the ROI. Are sales increasing?
Social Media is about being Social. It’s about Networking
When you go to an event, you are there to network and build relationships. You aren’t making any sales, but you know that if people like you and they know what you do, one day they will find you when they need you. They will also tell their friends when someone asks about similar services.
If you are at an event just trying to close sales, no one will like you. You might get 1-2 more sales, but you piss off everyone and no one wants to associate with you afterwards.
In Social Media, you are there to build brand and relationships, not to convert immediate sales.
At the end of the day, Social Media is like brand building and networking: no immediate ROI, but indispensable for business.
What’s the ROI of a Bill Board?
Companies can’t measure how much ROI their Bill Boards are generating, but they still do it anyway. You’re not supposed to put up a billboard and take it down after 2 weeks if your extra sales has not been able to cover the billboard costs.
Social Media is about building trust and relationships. And that requires patience.
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