The Odds of Success: Which Social Media Platform Has the Best ROI?Nov 15, 2021
No matter what type of business you have, it’s no secret that you should want to get the best ROI on your marketing efforts. And right now, there is no better place to get a return on your investment than social media. But which platform will give you the most bang for your buck? It's a question that has been plaguing business owners for years.
The answer isn’t clear-cut, but certain platforms will do better than others, and in the end we will see which platform reigns supreme for your ROI. Here, we will explore what social media platforms generate the best return on investment and how best to use them in order to find success with your business.
So, let’s get into it!
Which social media platform offers the highest return on investment?
Facebook is the social media channel that provides marketers with a high return on investment. According to HubSpot's 2021 State of Marketing report, 40% of businesses say they've seen an increase in sales because Facebook was their most effective platform - and 30% specifically cited Instagram as well. In fact, Facebook marketers were best positioned to drive traffic and lead from social media in 2021.
But then, along came other networks like Instagram which took the lead because of their visual nature and appeal for brands looking to market themselves online while attracting new followers/customers!
It's not just about how many people follow you on each platform either; it also matters what they're saying with content sharing (and how engaged your following is - meaning who responds most frequently).
You might be surprised to learn that the top 3 social media sites are not all created equal. Is your business looking for a way to get more attention? You're in luck because we've got three of them right here!
Facebook has been the subject of much controversy in recent years, but it remains one of the most popular social media sites on Earth with 2.8 billion monthly active users as 2021 draws near!
One of the major benefits of Facebook's advertising tools is their ability to target specific demographics and set up conversion tracking. Facebook has over 70 different ad types, making the possibilities for marketing campaigns incredibly diverse.
From boosting posts or creating a paid advertisement that will be displayed on user's newsfeeds, you can also create lead Ads which are worth exploring if your goal is generating leads! Without testing various elements of your ads such as images, headlines, calls-to-action, etc, it would be very difficult to know what works best. With this in mind running two versions of an ad simultaneously is best practice with one serving as a control while the other focuses on variations in these areas so they both have equal exposure but the only one performs better than the other at any given time.
Instagram is a powerful marketing tool that can help you increase your business's reach, engagement, and sales. With over one billion Instagram users there are many ways to use this platform for maximum ROI! For example, with Shoppable Ads or Stories, audiences will see relevant content in their news feed based on who they follow which might make them curious enough about what else may be offered by advertisers through other avenues such as branded posts or Reels videos respectively.
When it comes to Instagram, creating authentic content is best. This means that while you may be tempted to include hashtags in your posts, the best way to build a relationship with users on this platform is by delivering exceptional value through highly engaging imagery or videos that are relevant to their interests and needs!
LinkedIn is not only an effective lead and nurturing channel for marketers & B2B, but it's also clear that LinkedIn has the power to change how people network in this day and age. With over 750 million professionals worldwide using its platform every single month, there isn't much doubt why so many businesses are flocking away from other platforms such as Twitter or Facebook due entirely to them!
One of the best applications for LinkedIn is through its Sponsored Content options. This means that businesses can engage with potential customers by sharing valuable industry content to their newsfeeds. Every post has a call-to-action and allows you to include text such as CTA buttons, links, images, or videos so don't miss out on this opportunity!
What are the most successful social media tactics for the best ROI?
Social media isn't a one-time effort. Now that we've explored the most popular social channels, it's time to look at how you can use these strategies and best practices for an ROI on all your platform activities!
- First and foremost, you need to know who your audience is. If not for the sake of wasting time or money on something that won't work with those people in mind then what's really going through their head besides frustration?
- You know how people love videos, right? In fact, the only thing we're better at than watching them is making our own. It seems like most brands rely on images when advertising their products or services – but that's a mistake because just one good-quality video can attract more traffic to your brand page and drive up sales in the long run!
- Re-using content across channels is a great way to save time and money. Social teams should be using the same messages for all their social media spots, whether it's an Instagram post or YouTube video!
- Setting clear goals and devising a social strategy that works for your brand is difficult without setting specific objectives. It's also essential to have everyone on board with what they need from the campaign, as well as how we're going accomplish these lofty ambitions!
- To get the best ROI and increase your sales, you should allow users to purchase products or services on social media platforms. This is best achieved by the integration of your e-commerce platform with social networks. This way, users can purchase products without ever leaving their favorite apps!
- Don't be afraid to do some experimenting on social media platforms – it's how you'll learn best what works for you or not so much! Don't fall into a rut and give up if your initial social media campaign isn't as successful as you'd hoped.
In the end, you’ll want to choose a social media platform that best suits your company’s needs, because the best social media platform for you will depend on what you want to do with it. While Facebook has been dominating for years now, it may not be right for every business. But according to HubSpot's 2021 State of Marketing report, the best ROI will come from Facebook.
What about you? Is your business actively promoting on any of these social media platforms? Whatever your goals are as a small business and whatever type of product or service you are promoting, there is definitely a social media network out there that is perfect for you!
So what are you waiting for? The sooner you get started the sooner you’ll start seeing your very own ROI!
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