I’ve been told by many peers that social media ROI is a fantasy and cannot be achieved. It may not be the easiest thing to measure, but it is most definitely attainable. The term “social media ROI” is not interpreted the same by everyone. There is a loose definition that (in my opinion) isn’t necessarily basing ROI just on financial return.
Social ROI via contests can help you increase brand awareness,, discover and analyze leads, and connect with your customer via social media marketing. Social contests/promotions on networks such as Facebook and Twitter can make your job of measuring and increasing ROI much easier.
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Here are 3 tips for increasing your ROI on Facebook and Twitter with contests:*
- When running a contest or promotion, keep in mind the benefits of email marketing. It still rules in the world of online marketing. If you’re asking for emails for entry to your contests, you will be able to grow an email list of leads.
Learn more about email lead generation through social contests and promotions in “How to Get Email Leads with Facebook and Twitter Contests.”
- Mobile compatible contests mean fans and followers can access your contest anywhere. Did you know that 75% of Americans bring their phone with them when going to the washroom?
Using a 3rd party contest app (such as Wishpond) with mobile compatibility is essential in this day and age. The use of social networks on mobile is only going to increase.
- Analytics make your job a whole lot easier when tracking ROI of a contest or promotion.
With analytics, you can discover the exact interests of each demographic, the top demographics of each interest, etc. This collection of detailed social data of your contacts allows you to re-target more effectively.
Of course, analytics vary depending on which 3rd party app you’re using.. With Wishpond’s Analytics, finding out who your leads are is simple. Every lead captured using Wishpond is stored with the following data:
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Demographics (Age, Gender & Location)
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Interests
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Likes
You can even build custom entry forms for your contest to optimize the information you would like to receive from your entrants.
What are your most effective methods for increasing social media ROI?
Written by Cara Tarbaj @ Wishpond
The future of social is changing how we interact. Are you engaging digitally with your consumers? Wishpond social promotion apps make it easy. Get interacting with vote contests, photo contests, video contests and more on Twitter, Facebook, Pinterest and more.
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