Business Development & Marketing Cash Flow & Forecasting Finance General Turnaround

Measures to take when social media marketing isn't working

Ready for Tomorrow?Social media marketing campaigns should be aimed at engagement with a target market, whether interaction, reaction or a call to action.
Human beings are by no means consistent in their behaviour and may be affected by events or influences entirely outside the scope of a campaign, so it would be foolish to expect l00% guaranteed success from any campaign even if all the basics have been done well.
However, too many campaigns fail to achieve even moderate success which should be defined at the outset in terms of a measurable level of engagement.

Improving the odds of success

Assuming your research has confirmed that there is a market and a demand for your product or service and you have a clear picture of your ideal client’s profile, or even created an avatar, what can you do to weight the odds of campaign success in your favour?
Firstly, there must be a clear and measurable goal for the campaign. This might be the number of people requesting more information, downloading Apps, follow up calls or meetings set up, or orders placed.
Secondly, it is crucial to understand the language from the keywords or phrases your target audience is likely to use when searching for your product and use the language and vocabulary that will resonate with them in your social media messages.
However, once interest has been aroused and desired response achieved, a campaign can still fail if the desired engagement does not follow.
Campaign success will be improved by having a clear, user-friendly landing page for a prospect to visit if you have invited them to find out more or to book an appointment or place an order. Here, too, language is important as well as visual appeal. The next steps you want people to take need to be as few and straightforward as possible. Do the messages reassure them that you can solve their problem or cater to their interests?
All of this needs to be integrated into an effective sales funnel that takes a potential client through a series of clear steps to the point of purchase.

Measurement is a continuous process

Monitoring a social media campaign, like any other form of marketing, means keeping track of how it is performing, so producing data is a must. Some social media platforms, such as Facebook, Twitter and LinkedIn, provide statistics on size of audience and interactions directly on their sites.
In addition to the social media monitoring data, it is necessary also to measure and monitor what happens after the successful engagement such as the outcome of a sales call or meeting. In this way, the sales funnel can be reviewed to compare the cost, effort and success of different marketing campaigns, whether social media or other.
Two advantages of social media marketing are that it is relatively straightforward to measure while it is running and it is also easy to change if it isn’t working.

Business Development & Marketing Cash Flow & Forecasting General Rescue, Restructuring & Recovery Turnaround

January planning – Re:act

React resize 1Now that the business plan has been refreshed, the year’s business goals have been set and the marketing plan to achieve them is ready it is time to put them into practice.
It is crucial that progress is monitored throughout the year, but how this is done will depend not only on the goals but on the nature of the business.
A dash board of key indicators is a useful tool for monitoring progress. It should include financial information such as the bank balance, cash received, amount paid out, outstanding debtors, overdue creditors and stock held.
Other useful information on the dashboard to include might be the value and number of orders and quotes, number of visitors, inquiries or responses by source, whether direct sales, website, email, social media.
For example, those who sell products online might find it helpful to use a dashboard to monitor their weekly sales and cash receipts and check them against those projected in the plan.
Other businesses such as distributors and retailers might monitor their management accounts on a monthly basis but check their stock on a daily basis. Stock sold, new stock and returns.
This is done by having appropriate systems such as bar code scanners which will be covered in a future blog.
The frequency of monitoring will be a matter for each business.
However, if there is a marketing plan it is important to monitor the impact of campaigns and to be open to making adjustments according to their performance and progress towards the goals.
There are two essentials to remember when goals have been set and the actions begun.
First, is to monitor progress regularly.
The second is to be flexible enough to make adjustments if goals are not being met.