Many people inquire as to what sort of return on investment can be realized from social network marketing. The return can be quite substantial, but you have to be willing to step up and take the risk. The social network space is still evolving, and the trend has been that those who are willing to experiment the most tend to reap the most rewards from their network marketing. The great thing about social marketing is that you get results in almost real time so the innovation cycle is quite quick.
If your goals are primarily lead generation or product sales, one of the best ways to get new customers using social networks is by running contests. Over three million different brands have sponsored such contests to help utilize word of mouth advertising. Offering an incentive to get clients to share helps to increase the odds of the offer going viral. You can utilize a product discount or free products as an incentive for product offerings. For services consider a discounted package or some sort of social recognition. Having fans generate their own content promoting your service to enter a contest is one of the best ways to generate engagement and get great content to demonstrate social proof for your brand.
If you are looking for build your fan page or broaden your audience consider spending money on paid social media ads. It is no secret that the organic reach for Facebook has decreased markedly over the past several years. The reality is that if you really want to expand your audience you need to consider spending money on paid ads. In 2015 $8.3 billion were spent on social media ads.
The good news is that unlike traditional marketing which only allows a rather broad demographic targeting, social media marketing can be targeted quite specifically. This is particularly true on networks such as Facebook that collect all sorts of data on a person’s interests. Facebook also purchases data from third party data vendors which it attempts to match to users in its database. This can allow you to target ads to only those who have a history of buying stuff online to generate a higher return on investment. You can also utilize Facebook retargeting to only show ads on certain audiences who have a history of visiting your page or website.
Social media marketing is one of the highest return on investment activities that you can do in your business. By keeping up with the social marketing trends for 2015 and beyond you can be the one leaving your competitors in the dust.