The Right Way To Approach Social Media ROI - Amy Schmittauer | Video Content Marketing Expert | YouTube & Video Marketing Speaker
Social Networking, Uncategorized
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The Right Way To Approach Social Media ROI

Return On Investment.

Such an interesting topic in the world of social media and business.

I can say that first hand because that’s quite obviously one of the first questions I get from prospective clients. “What is the average ROI for that platform?” “What kind of return have you seen from your other clients?” “This sounds like a big waste of money to me. Can you tell me why it’s not?”

Look. I understand that these are crucial points of interest to you when you’re considering incorporating social media into your marketing plan, but you need to get out of the money-mindset initially to really be able to answer those questions.

“Now you’re scamming me.” Okay, hang on. Hear me out.

If all you can think about is how you can make money off the people you want to communicate with through social media, you’re not going to get a single dime on return. Just ask all the scammers on Twitter how much their making.

The entire basis of why social media works (and why it’s not going away) is because of how it instantly bridges the gap between businesses and consumers developing relationships. That’s why you have to care what they are saying about you on other websites. That’s why you have to share the love with your biggest advocates. And, most of all, that’s why you have to want to give as willingly as you’d like to receive.

So considering your customers on the same level playing field as yourself, what you can do for them? What can you do to win their respect? Their advocacy? Their loyalty?

When you take those ideas and turn them into items you can actually put a price tag on, we can now have the conversations of ROI. How much money will the business save by delegating  a portion of customer service to social media? How can we develop a giveaway to leverage more word-of-mouth for our grand opening? How can we assist bloggers with relevant audiences in return for sharing information about our products/services?

Do you see how those questions are different than asking “what’s the ROI of Twitter?” It’s because just like the cable station can’t tell you the ROI of a 30 second-spot on TV and that advertising agency can’t tell you what return to expect from putting your name on a bus stop, without a plan for the platform, I can’t tell you the ROI of social media either.

So when you have that conversation with your consultant, be prepared to bring more knowledge and ideas to the table if you want a straight answer about return on investment.

We’re measuring conversions, not conversations. You have to see that before you can profit.

Amy Schmittauer Visit Website
Amy Schmittauer is a video authority coach, public speaker and host of Savvy Sexy Social, a video series for people who want to create an amazing brand platform through video and social media. Amy writes, hosts and produces the show which has an archive of more than 600 episodes. Impacting businesses in almost every country in the World, these advocates have helped the YouTube channel amass nearly 3 million views, contributing to Amy’s portfolio of work on the platform totaling over 10 million views. She is an internationally-acclaimed public speaker and edutainer, voted #1 Best Speaker at Social Media Day San Diego in 2015 and with high marks at events such as Tropical Think Tank, Hubspot’s Inbound and Social Media Marketing World.
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2 comments
MichaelBowers
MichaelBowers like.author.displayName 1 Like

I was concerned as I read the first third of this post but I knew you had to be going somewhere. You were and it is a good place. I think businesses need to understand that social media is marketing, getting prospects to a conversion point is sales and that is where the money is made.

schmittastic
schmittastic moderator

@MichaelBowers Exactly. This conversation is so difficult to have in the first place because businesses just want an definitive number without any plans or facts to make an estimation. You have to know what your call-to-action is so we can figure out how to attract people to it through social media. I can't just give you number... and if someone did, they're lieing.