|Study/Infographic Source - frankwatching.com|
Most Businesses Don't Seem To Have A Social Media Marketing Strategy In Place
The first thing you notice is that it looks like most business owners don't have a social media strategy in place. At least that's my impression of the results showing 61% have an adhoc strategy in place. I'm sure why this is - perhaps social media strategy isn't something people think they need to design, or maybe it just seems to complicated. Also, although most businesses don't seem to have a set strategy in place, it looks like most rate social media as being 'important' to them.
In any case, I'd say that as with everything else in your overall marketing plan, your social media activity is something that should have a well thought out strategy to it. If you need a helping hand in starting with this, I've written a post about how to start with social media basics - it might be a great place for you to start.
Twitter Is The Most Popular Platform
Another thing that stood out - although not unexpectedly - is the fact that Twitter looks like it's the most popular social media marketing channel. Again, it would be really interesting to find out the reasons for this. Is it because Twitter is probably the easiest platform to get started with? It is because it's relatively easy to pick up followers on Twitter and look like we're achieving something? Or maybe it really is the best way of connecting with other businesses and professionals (remember, this infographic shows data related to B2B social media).
Anyway, if you are looking for a way to define your Twitter strategy and make it more local, you might find this post interesting.
Interesting - Website Traffic Seems To Be The Most Popular Benchmark Of Success
I like this one - it shows that rather than focussing on the number of fans or followers a social media account generates, the prime focus seems to be on how much web traffic is delivered to the companies' website. This is good and it fits in with how I see social networks in your overall strategy - they serve to build trust, reputation and awareness. It's then up to your website/lead nurturing processes to convert once a fan or follower clicks through. So, gauging web traffic as a marker of success here is excellent, in my opinion anyway.
If you are looking to improve your web traffic numbers through organic search, you might find this seo basics post useful.
Difficulties In Calculating ROI From Social Media Marketing
This stat is understandable. I think a lot of small business owners have trouble in calculating ROI from social media activity. I don't think fans and followers are a great benchmark here, although it's pretty straightforward to track web visitors and subsequent conversions from social media derived traffic.
You can do this through Google Analytics, and there are a few really good inbound marketing tools that can do this job perfectly. Either way, with a bit of digging, it should be pretty easy to start tracking the success of your social activity.
I think that this report highlights some interesting areas. The most important takeaways seem to be that businesses need to first of all define a social media strategy and that they then need to be able to measure the ROI from it. If this is you, then hopefully the above post will help get you started.
Thanks for reading!
By Alan MacDougall
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The Revenue Builder Blog is a small business marketing strategy and tips blog designed to help small business owners and startups maximise sales revenue.