ROI of Social Media

ROI of Social Media

Tripod Show

TriPod, the Tricycle Creative podcast, is for anyone interested in being a better Digital + Content Marketer. Hosted by Ross Herosian (a Marketing coach, content creator, and entrepreneur) episodes are a mix of helpful Marketing tips, social media updates, inspiring interviews, and his own unique perspective on how to promote and grow your business.

In this episode, Ross chats with Hillary Houghton of SocialHQ about the ROI of social media. 

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Here’s what you don’t want to miss:

Ross paints us a T.M.I. picture of choosing to record this before showering. Ross and Hilary finish categorizing and analyzing the “Levels of Fun-ness for Buns” (from the Fun-Bun to the Founding Father Bun) and selling healing crystals and move on to the point of this episode:

What Is The Return on Investment of Social Media? 

#1: Purpose of Social Media

It’s not just about putting out sales updates, it’s about creating content that resonates with your customer needs and adds value to their lives. Meaningful content connections will yield business and loyalty.

#2: Measurements & Analytics

The only way analytics has been measuring the “success of social media” is by sales. However, social media does so much more than this. Hilary explains how the ability to track the success of social media clouds the bigger picture, the entire buying behavior.

Consumers buy what they are exposed to. From seeing your product or services on social media to following it to your blog to learning more about your services, and then purchasing your services; all of this starts with content.

#3: Why should you be on social media?

In a sea of thousands, it is possible to stand out.

“Everyone is on social media” is the reason you should be on social media. Not everyone is trying to appeal to your target audience and therefore it is “not overcrowded but ripe with opportunity” as Hillary explains.

Becoming disciplined and focused on who you can potentially have as a customer and posting relevant content to them, will break the noise.

#4: Importance of Strategy

Your strategy will be the backbone of social media with many levels of complexity.

Understanding the landscape will help you get results at a budget and timeframe that makes sense. From knowing your audience, what makes them “tick”, where are they, and what are they’re looking for will be what you will cater towards in your content creation.

The more informed you are, the better decisions you can make for your business and see-through “fraud” marketers.

#5: De-mystify ROI of Social Ads

To “do” ad’s right, you have to really educate yourself on its role in your overall social media strategy. You hardly ever see an ad for the first time, click on it, and purchase something. Therefore, we should all recognize that ads are not going to be the silver bullet you are looking for (which, spoiler alert, does not exist).

The good news is that knowing it isn’t the silver bullet, you can now fine-tune the rest of your strategy. Ross discusses a loose 8 item list of what other elements you should be versed in before investing in ads.

Check out following links referred to in this episode:

The new dot com bubble is here: it’s called online advertising – Ross’s inspiration for this episode.

Brands, It’s OK To Break Up With Social Media – “In 2020, 32% of CMOs are still unable to show its impact to business, while only 30% can prove the impact quantitatively.”

Connect with Hillary + Social HQ

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