Is Social Media valuable to your company?
Social Media is accessible over many devices and platforms, so it should be useful to all companies trying to attract new users – but it isn’t necessarily.
You have to use a variety of approaches when discussing how valuable social media is for your company. Numbers don’t always reflect the success of your social media channels, as it can often take a long time or involve a number of other factors to complete a sale – if that is even the type of conventional success it brings.
Social media has a number of success criteria. Firstly, by increasing the number of followers or subscribers, you are indirectly increasing your potential client base. Social media results can also be measured by the success of your content. The content you produce may create a social buzz which leads to it being shared, opening up whole new avenues which wouldn’t have been available previously. Social Media also doesn’t take into account the broader offline effect that it will have on your business. If you handle a customer complaint well on social media, then word of mouth will get around that your brand is easy to do business with, building customer loyalty and advocacy. The same is true if you consistently deliver a quality product and service – customers will often take to social media to review products and recommend services to friends.
Overall it entirely depends on your business goals as to how social media can be utilised in a valuable way, and how much time and money you should invest in it. It’s critical to remember you will not be able to view your entire ROI simply from your social media channels.
If you need assistance with your social media strategy, our resident team of social media experts are on hand to help. Contact us for a no-obligation consultation today.