3 Ways To Increase Your Marketing ROI
1. Use your brand story
It is not enough to simply post about your products/services all the time. It becomes uninteresting and annoying for your customers. Instead – create a brand story and post snippets of it alongside your products/services. The brand story is really what you want to promote because stories are generally interesting to people, and the reason people browse on social media is to look for something interesting.
Promoting your brand story should be your primary goal while showing your products/services as a secondary message. Here’s why this becomes really effective once you make a habit of it:
Your brand story needs to be interesting – almost like a short book or movie. It grabs their attention and retains it for a certain length of time (depending on your story). Winning people’s attention is really what good marketing is all about because you can’t sell anything until you have their attention. By the end of the story, you’ll be able to give them a call to action (eg: “visit our website”) without much fuss. Find out more about branding.
Your brand story is not only of good use for social media, but you can incorporate it into your website, presentations, and conversations. It will peak people’s interests in much the same way. Try learning your story to the point where you can tell it in a charismatic way – this will exert confidence and passion.
2. Measure the results properly
How do you know whether anything is working if you aren’t actively collecting and measuring the results it brings. This is a mistake a lot of businesses make when it comes to social media marketing! They measure “likes”, “shares”, and “comment” as if they are a direct translation of revenue. This is not the case.
You could have a Facebook page with 200 likes that generates you $4000 per month in business. Or you could have a Facebook page with 200,000 likes that generates you $500 per month in business. I know which one I’d rather have! This is why you need to know your KPI’s and apply them to your marketing strategy.
Break it down. X number of link clicks generates X amount of leads – the average value of 1 lead is X amount of dollars. Once you break the numbers down like this you’ll be able to translate social media marketing metrics into dollar amounts. From there you can measure results based on your KPI’s
3. Create a customer-centric plan
You can do all the marketing you want, but if you aren’t able to deliver a great product or service that puts a smile on people’s faces then it’s all no use. When you have a marketing strategy that works well for you it’s easy to scale it in order to generate more business. But being able to handle the business with a consistent amount of service and care is where your ROI will really start to show.
Even getting your referral rate up from 3/10 to 5/10 could lead to thousands of dollars in extra business across your customer lifetime. Therefore, create a plan that is bulletproof and delivers your service/product at the most consistently outstanding rate you can handle. This is one of the simplest, but most effective ways to 10x your marketing ROI.
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