In 2016, social media is a huge part of every startup’s digital marketing. Still, what most people fail to realize is that this particular task is far more complicated than it may appear. Numerous people tend to shamelessly self-promote their business by posting, tweeting and commenting about the products they sell and the services they offer. Needless to say, this is not a good idea and usually doesn’t result in a good conversion rate. With this in mind, here are some tips and tricks that may help you make maximum impact on social networks.
Know Thy Network
Speaking of social media is quite vague, when there are so many of them. Seeing how they are different in their nature, as well as in their popularity, it comes as no surprise that each of them brings a different conversion rate and a different ROI. The first thing you should know is that, even though it is on a steady decline, an average of 85 percent of all orders from social media is still made through Facebook. However, the number of orders is not all that matters. You see, cheaper products like photography, pet supplies, sports and rec equipment are the most popular items bought via Facebook. On the other hand, if you are interested in more expensive purchases, you should probably turn to Instagram and Pinterest.
The Industry Makes the Difference
According to the experts behind advertising agency based in Melbourne, another thing startups and SMBs should keep in mind is the nature of their industry. As we already mentioned, when it comes to pet supplies, Facebook rules undisputed. However, this is not so in all the industries. For example, if your business deals with digital products, YouTube should be your weapon of choice. The reason behind this is quite simple – YouTube is alone responsible for over 47 percent of all social media orders for digital products. Similar is the case with the services where YouTube and Pinterest alone own over 60 percent of all sales. In other words, your product and your business niche are what determines your most efficient social network.
Recognize Vanity Metrics
Finally, the most important thing about your social media engagement is to recognize which metrics are meaningful and which are not. Things like the number of followers, the number of likes and positive comments on your posts may all seem great on paper, but what do they actually bring to the table? These parameters are, therefore, called vanity metrics. Not everyone who likes your goods buys them or has the intention of ever doing so. This is why you shouldn’t measure your success on social networks based on vanity metrics, but on ROI that they bring. The easiest way to do so is to include a one-question survey for your online buyers, asking them where they heard about your business.
Like there is no recipe for success in traditional retail and service industry, there isn’t one applying to the digital world, either. Most of the measures that will result in the greatest success are quite situational, but in order to take these measures, you must know both your business and your social networks like the back of your hand. Follow the latest trends and market movements, as well as the boosts and declines in the social networks’ popularity – that is the only way to always stay ahead of the curve.