He said, “If your business is not on Facebook and Twitter, then you are way behind the times and you need to become active on social media tools.” I say, “Not true.”
The social media revolution has fully emerged. We have seen things in the last five years that many of us were not expecting as we’ve watched the social interactions of our world drastically shift. Naturally, our first instinct is to be a part of every new thing that happens and include it in our marketing efforts. However, like every marketing strategy, time invested in a social media strategy must produce a reasonable monetary result in order for the ROI to make sense.
In part one of this two part series on Social Networking and ROI (Return on Investment), we are going to discuss Twitter and Facebook demographics and the purpose of each site. In part two, we will discuss ways for you to monitor ROI in your social networking efforts.
Know Your Audience
Who are you marketing to? If you are using Facebook or Twitter, are your prospective clients on either network? If they are, do the networks provide the right connection for your organization?
According to a December 2009 Quantcast report, the Twitter audience demographics would suggest that if you are marketing below the age of 18 or above the age of 49, than Twitter is probably not as important of a tool for you. If you are intending to reach certain ethnicities, education or income levels, you’ll want to take a look at the demographics and see if they match up.
Facebook’s demographics are different than Twitter. Younger generations are more involved and income levels are higher. See below for specific information from the Quantcast report and compare with the audience you are trying to reach.
What Is Your Purpose and What Is Their Purpose?
They want to keep you online, plain and simple. You want to make money in your business or connect better with your customer.
Fully looking at each tool and its capabilities is the critical first step to determining your marketing strategy. In future posts on How-to-Blog.tv in the social pillar, we’ll discuss the uses of Facebook Pages, Twitter Feeds and more to evaluate the effectiveness of these tools for business.
In part two of our discussion on social networking ROI, we’ll discuss ways to monitor social networking ROI.
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great info!!! i had no idea about the key words!