No matter how long you’ve engaged in social media, you’ve no doubt come across the controversy surrounding Return On Investment. Traditionally in business, the formula looks like this:
ROI = (Profit – Cost of Investment) / Cost of Investment
But, since the nature of social media is inherently qualitative, there are more variables to consider. So what does a successful business page look like? Are the quality of posts translating into quality fans? How is engagement effectively measured?
Some have tried to conquer this beast by giving fans on Facebook pages a quantitative value, but a quick Google search will reveal that these numbers range from $1 to over $100 per fan. Others say a comprehensive evaluation is impossible, as the nature of social media does not allow for quantitative conversion. In reality, every business is different.
The key to ROI lies somewhere in between these wide-ranging opinions; it’s a matter of reevaluating your objectives and what success looks like for a business page on Facebook. In other words, your investment may be monetary but the goal is not to immediately break even. To generate sales, you must first capture your fans’ interest and attention so they become comfortable with your business. Interaction leads to trust that puts your brand top-of-mind, a place you want to be when they make the decision to buy.
5 Ways to Better Engage Your Fans
Our agency has a network of destination pages we manage internally, not only to aid in the page growth of our clients, but to help us keep up with the changing landscape of social media. A few things we’ve learned since starting these pages from scratch:
1. Post regularly. There’s a fine line between how many posts a day are just enough and too many, but you want to make sure that when your fans log in you’ll be there to greet them.
2. Make sure every post ties back to your business. Most of our pages are vacation spots, so we’ll sometimes start off with the weather. We know most of our fans on our Hilton Head Island page are vacationers, and given the location, the weather and the beach are two of the biggest reasons why.
3. Ask Questions. Every one has something to say. Remember, this is a two-way conversation and you’re building a relationship. Asking for your fans’ opinions and then acknowledging their responses encourages them to continue to engage.
4. Make your Page a Resource. Depending on your business, this may vary in level of difficulty but it just allows for you to get creative! Recently, we grew a client’s business page to over 40,000 fans in a week by inviting people who enjoy the Tennessee Mountains to post their memories on the cabin rental company’s wall. Fans shared their stories, photos of their favorite places and how they spent their vacation. Not only do they remember what a great time they had, but it may get them to start thinking of their next one. Who do you think they’ll rent from?
5. Thank Your Fans! This doesn’t just have to be a post, but how about giving away a coupon or a gift certificate? Better yet, making it exclusive to Facebook fans not only makes them feel special, but keeps them coming back and telling their friends. The bigger the giveaway, the more valuable your page becomes.