The year 2012 has come to an end and Social Media has embraced a number of brands in Uganda because of the hue and cry by many internet pressure pushers and most well stated importances for these brand’s images.
These brands have embraced every social media network out there that can work for them but this end of year or close of business year has made these brands have found out that after devoting a lot of resources in to social media promotions, the results are far from encouraging to an extent that some aspects of their social media campaigns will be ended by next year.
So looking at what works for you as a brand is important thus these are some of social media websites that have been considered for most social media campaigns; Facebook, Twitter, Google+, LinkedIn, You Tube, Vimeo, Pinterest. Most business are effectively making their presence felt in each of these platforms and others have found their social commitments a little too hard on their resources.
By 2013 most brands have to have identified the social sites that have drove most success and focus on them. If a social platform has failed to deliver results, it is better to quit them and than concentrate on those platforms that have delivered returns on investments. “What works for you is more important than what works for others” #Pkquotes
How to know when to quit a social network is not easy, but while analyzing the effectiveness of a social media platform you are most likely to find yourself in one of the four situations below.
1. High CTR and high conversion rate 2. High CTR and low conversion rate 3. Low CTR and high conversion rate 4. Low CTR and low conversion rate
CTR => Click Through Rate. This is a measure of the number of clicks (to your website) that your social media campaigns generate.
Conversion Rate => Number of people who arrived at your site via a social media website and did something that you wanted them to do (like make a purchase, sign up for further communications etc) Like AddMaya.com did with its #AddMayaGiveAway gifts, everything happened on their site.
So here is an analysis for the four situations given up;
Under situation 1 your CTR and conversion rate, for the social network under consideration, are both high. Its therefore in your best interest to continue with this social media platform as the returns are justifying your investment of resources in it.
Here you enjoy a high CTR and a low conversion rate. While your promotions are generating clicks, not many people who arrive at your site via the concerned social media platform are converting.
This may be due to the following two reasons:
a) Your promotions are creating unrealistic expectations.
b) Your landing pages are not optimized to aid conversion.
You can under this situation :
a) Give your promotional literature a rethink next year.
b) Optimize your landing pages to boost conversion too.
Now if after taking the steps mentioned above, your position does not improve, there are two alternatives left for you. If it is merely traffic that you are after, stay put with your promotions but if you are looking for more customers and a certain social media platform is failing to deliver so, it is in your best interest to look for other alternatives.
Under this situation, there is perhaps a need to give your promotions a little boost. A high conversion rate signifies that by tweaking your promotions a little to suit your audience or by being more active, you could increase your CTR and effectively move towards situation 1.
If you find yourself in this situation, it is a good signal that you should perhaps quit this network and start focusing on other networks that have a potential of bringing you more business and greater success.
So if you find some social media platforms are not meeting any of these at all, i suggest you close them and focus on the ones that are moving you in the directions you want to be and planned for your brand.
Patricia Kahill is a multipotentialite Christian entrepreneur, Content Marketing Coach and founder of the Content Marketing agency, Kahill Insights that helps business owners create engaging and interactive content items for digital platforms with a focus on returning a desired outcome.
Patricia was the producer of SlamDunk Basketball Talk a show on House of Talent online TV, a former fellow at Harvest Institute for leadership and now an assessor there, and an alumnus of the YELP class of 2017. A member of the BNI Integrity chapter and African Women Entrepreneur Cooperative.
She is driven by passion and curiosity, been taking every opportunity that has been given to her with an ambition of stamping her footprint on the world.