Social Media ROI: Does Your Business Generate A Positive Return On Your Social Media Investment?
One question that gets asked of JASE all the time is, "Will my small business benefit from social media?
" The answer we give people is not as straightforward as you might assume.
Is social media a benefit for your business? Absolutely it is. Social media
is a valuable part of your marketing initiatives by branding your business, connecting you to your customers, and generating word of mouth referrals, but it cannot be your sole source of marketing.
Large brands like Coca-Cola or Nike benefit more from social media than smaller businesses because of their brand following
. So when large brands interact with their fans in their social communities they are likely to have a successful response. Replicating this interaction with a small business is much more difficult because the interaction is not as "viral" as the larger brands, but that does not mean that small businesses should just abandon social media. The best method for a small business is to develop a social media marketing plan.
A social media marketing plan
will lay the ground work for how much time and interaction you will invest with your business. It can also help you navigate what social communities yield a better return on your investment. Social media can be a powerful tool and when it used in partnership with your business' existing marketing strategies it can generate a positive return on your investment based on your industry and target audience. Where businesses find themselves frustrated with social media is when they invest too much time and energy without a plan and do not generate the return they were looking for.Does your business have a social media marketing plan? Is it looking to maximize the return on its investment? Contact JASE today and let us help you develop the right social media marketing plan for your business.image credit: jtyerse on flickr
Wednesday, February 13, 2013 written by Cameron Muro
, brand interaction
, Small Business Marketing
, Social Communities
, social media
, social media marketing plan
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