I was at a research group this weekend and the big question kept popping up frequently in our conversation. “When will social media deliver instant ROI?” We all know social media can be successful and essential to any business however the ROI measure seems vague for some. I felt it was important to share my insight on Social media return on investment.
I strongly believe Social media will drive ROI in the years to come. You see unless social platforms like face book, twitter, linked in and google plus allow payment processors into the outlets it wont deliver instant ROI. This however doesn’t account for the app centre in the social platforms. Some brands are using social apps to mark a point of revenue. For the most part Social outlets will drive traffic and send prospects to sales funnels.
While social media can be a great lead generator and a place to converse and engage, its core responsibility is to enhance the branding and user experience. This is not to say I have not found customers from the social platforms. I receive a ton of inbound leads from the platforms that have turned into paying customers however I was not paid for my work on the plat form. This means that the social platform complimented my marketing approach. In most cases social media is the glue that surrounds all your marketing strategies.
It is not the only form of marketing but certainly compliments it!