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Karen Francis
  • Total posts: 67
MD Clean, post: 230460, member: 58759 wrote:
Hi Karen,

I just read your blog post but it didn’t answer the questions I have as a small business owner, principally, what is my return on the investment of time or money I am investing on a platform?

Hi Paul, I hope the response from [USER=77347]@JbytheBay[/USER] can give you further insights as well.

ROI is hard to fully measure from a social media platform, even with the best tracking tools, as a potential customer can see you multiple times before making a purchase… and this is the point.

Let’s look at monetising it.
On average the click through rate at position 1 is 30-35%, position 2 around 20% and position 3 around 10-15%… that’s between 60% and 75% of clicks to a website occur in the top 3 positions. (research “Google Organic CTR Advanced Web Ranking”)

Google can see from a websites analytics data how many people come from Social Media and how engaged they are on your site. This gets factored into the position your site is ranked in Google search results.

If the information you share on social media is well crafted, relevant to potential buyers and done often, then your products and brand will remain high in someone’s mind when they are seeking to purchase.

However they may come to your site through organic search or another method rather than social when the purchase happens.

If your website shows in those top 3 positions when people search for your products, then you have 60-75% market share. If your brand becomes well known as a result of social media, then your sales increase – and this is the best measure.

So.. as to time and costs investment? I’m going to use round numbers.
Let’s say you to hire a junior, in-house part time to do the work – 1 day a week, on a $50k salary that’s $10k a year.
They may need training in how to do this kind of work, or in your products and services – lets add $2k.
You may also need to invest in hardware / cameras / software / editing tools – lets add $3k.
So, a $15k investment in year 1, with the aim of reaching position 1,2 or 3.

Lets go for gold and say you got to position 1 in that year. The question then becomes is $15k investment worth an additional 30-35% in sales for your business.

I hope that gives you a gist of things, there certainly is plenty of information in this thread, and any campaign needs to be structured to the individual needs and goals of the business.