Thinking about hiring a Social Media Manager or Strategist to increase your Wine Brands Awareness, create a thriving community or nurture the relationships with your current customers – but not sure what the return on investment will be?
The ROI of hiring a social media manager or strategist.
This is a question I get asked a lot when I am talking to prospective clients.
If you’re considering outsourcing some of your work to a social media manager or you’re considering investing in a social media manager soon then keep reading – I’m going to attempt to answer this question for you.
Okay, so what is the ROI?
What is the investment?
Let’s get a refresh on the Return on Investment Formula: If I spend X amount of dollars —> how many dollars will I make back.
To fully answer this question, we need to look at the two different sides of social media. Firstly, we have organic social media, and secondly, we have paid social media.
ORGANIC SOCIAL MEDIA
What is organic social media even good for? Organic social media is essential for your brand – it’s word-of-mouth marketing. It’s your customers’ perception of you; this is incredibly powerful but very difficult to track.
To be honest the ROI of organic social media isn’t a fair question to ask.
Here is why:
Let’s use a Billboard as an example. The investment of a billboard could be something like $10,000; $20,000, $50,000 or even a million dollars in Times Square.
How many people will take action & make a valued purchase from the billboard they saw?
Now let’s look at an example of a commercial. If you could get commercial space during the Super Bowl for $20,000 would you take it?
If you could afford it, yes, am I right? Think about the exposure you’d get!
But how do you track the direct ROI from that investment?
A famous quote by Gary Vaynerchuck is “What is the ROI of your mother?” I’ll let you think about that one for a bit.
How do all these examples apply to Organic Social Media? I’ll explain.
Have you ever made a friend or a connection through social media? I know I have, and these relationships have led to powerful progressions in my business and life. Heck, I even met my HUSBAND through the power of social media.
Talk about ROI (and it didn’t cost a thing) *haha*
Your customers are the same; you engage with them, build relationships with them, learn what they are searching for or what their needs may be.
They become engaged, they follow you, they are loyal to you because you have taken the time to develop a relationship. By taking the time to make your audience feel they are valued, they become your incognito “brand ambassadors” – because we know happy customers share their love of products and services.
This word-of-mouth sharing will hold a lot more power than any dollar you spend on advertising.
More so, the value you bring NOW will supercharge every FUTURE product or business you bring to the marketplace.
Sure, organic social media will lead to increased sales, but ROI is not the main focus of this channel.
PAID SOCIAL MEDIA
If you want to put numbers next to your efforts and track the exact number of website clicks, leads generated & sales made from your social media, then you can turn to PAID social media campaigns and channels like Facebook & Instagram Ads, E-mail Marketing or Funnels.
If you have hired a competent, driven & passionate social media marketer who can speak the life of your brand through your channels, can snowball a following of brand ambassadors who are EXCITED about your business – this is absolutely priceless.
Total ROI is not just definable by a figure or a number.
If you’d like to discuss ROI further or discuss potential Social Media Management or Strategy for your wine brand or business – you can apply for a discovery call here or follow me on any of my social channels.