Congratulations! You got a budget for social media marketing. Here’s how to get the most out of every penny - and ensure that next fiscal year, you’ll be able to prove your results and get an even bigger budget.
Now is not the time to say, “we want the biggest reach” or “we want to pass X number of likes.” Those vanity metrics will not impress your CMO. Instead, set quantifiable goals around driving sales and engagement. At Oracle Social, we promote a mixture of gated and un-gated content (more on this in a moment) because we have three goals:
- generate X new sales leads
- establish Oracle Social as thought leaders by beating Y click-through rate benchmark
- build brand awareness by beating Z engagement rate
Those numbers, X, Y, and Z, will vary by industry, size of company, social channel, etc.
Choose content that has performed well organically and aligns with your goals. At Oracle Social, we chose our content like this:
- generates new sales leads (with gated content like this white paper about social customer service.)
- establishes Oracle Social as thought leaders (with un-gated content like this interview with Oracle SVP Reggie Bradford.)
With a tool like the Social Relationship Management (SRM) platform, you can easily see which piece of content is performing well for you organically. For us, Reggie’s blog was getting tremendous traction organically and it aligned with our goals, so we put some money behind it. It continued to perform even better. Victory!
Even if you have the best content in the world, you won’t reach your goals without aiming well. That’d be like firing a super fancy bullet into the sky and hoping that it falls on its mark. It just won’t work. A Marine sniper taught me how to shoot, and there were about 400 million calculations that he made before every shot.
It’s the same for you, my dear social media marketer. Different social platforms will have different targeting capabilities, so it’s wise to choose multiple platforms and align your content strategically. For example, we ran paid campaigns on LinkedIn and Facebook. On LinkedIn, we targeted by job titles, keywords, and companies. (We got really specific on them, but I will spare you the boring details. Just know if you do this yourself, you’ll need to get into the nitty gritty.) Facebook also has robust targeting; we chose to use interests, job titles, and opt-ins to reach our audience.
Now comes the fun part - watching the numbers roll in. If you use a tool like the SRM that is integrated with your sales cloud, marketing cloud, and service cloud, you can literally track a lead from social to sale.
General Motors is a great example. In 2015, their social media team responded to over 15,000 tweets that were viable sales leads. From those, about 35% accepted GM’s invitation to test drive a vehicle. 65% actually got behind the wheel, and in the end, 22 vehicles were sold through social media.
How do you get the most bang for your buck on social media? Share your thoughts below.