I recently wrote a post about how to stop overthinking social media. I’m not saying that social media is not important, on the contrary, it’s probably very important to you on both a personal and a professional level. I was thinking about it while walking in the forest yesterday.
The reason I wrote the article is that I believe most of us spend too much time browsing and thinking about what to do on social media, and how to be different and get attention. Like I said, I was walking in the forest thinking about social media.
Instead, focus on return on investment (roi); what’s your goal using social media and how do you measure success? For instance, how do you measure success on Facebook? It might not be easy to answer, some people think about how many likes they get, and how many followers they have, others think about the comments or the traffic they get. I don’t believe there’s one answer for everyone, but I believe there’s a few things that’ll help you understand how you should focus on return on investment and how social media can help you reach your goals.
Set your goal(s)
I believe that we should focus on one thing. We should have one overarching goal that supersedes all other considerations. I believe this is important both on a personal level and on a professional level.
This is the philosophy for a happy life.
You’ll end up with different goals, but they’re all integrated and part of your ONE goal. This will also be true for how you look at return on investment in social media.
Find your metrics
Many people fear zero likes. If we overthink social media, we can decide not to publish something extraordinary, because we don’t know if we’ll get any (or enough) likes.
What’s important to your business and is relevant for your return on investment are five metrics:
How many people are seeing what you publish. This is the reach of your content. You want as many people as possible to see you (your content).
The next metric is traffic. We don’t just want many people to see the content on social media, we want them to visit our website. We own our websites. Our website is our home. We don’t own social media. Companies change and we have nothing to say about it, the only thing we can do on social media sites is to adapt.
The third metric is leads. A lead is someone who is interesting in what you do. They’re not a stranger anymore. They find you (your business) fascinating and they want to know more or stay in touch with you. This is usually via a newsletter. I use GetResponse to stay in touch with my readers. You can measure how many people sign up for your newsletter via social media and via the specific content you publish.
The fourth measure is customers. You need to earn money from your work. If you don’t earn money, you won’t have a business. It’s that simple. So, you can either track how many customers you get or track the revenue generated, or both.
You can also track other ROI’s, like:
- conversion rate
- filled-out contact forms
- link clicks
- newsletter signups
- PDF downloads
- social interactions
- video views
The one return on investment I always use, is the one ROI that might be the easiest to track, but the hardest to quantify when it comes to earning money.
If you’ve been reading my blog for a few months, you might now what I’m talking about.
If people smile at you, because of what you do and who you are, they are one step closer to be buying from you.