Hitting the mark with conversions: Choosing social media as your next revenue driver

By Banc

4 min read

Are you looking for ways to improve the performance of your digital marketing and make every penny count? Want to know how to turn your social media marketing into a revenue driver? Someone who knows the value of social media is Sammii Taylor, Paid Social Executive here at Banc. In this guide, we share some of Sammii’s insight into which social channel to choose and, help your digital marketing to move up a gear.  

Sammii Taylor - BancSo, you’re planning the coming year’s media budgets and tasked with exploring other options on how you can meet business targets?  Obsessed with the finer detail, you’ll be no stranger to using the intel of your analytics tools.

Regardless of the size of your business or the type of industry, your marketing budget should be adjusted according to the channels that are working best for the money invested.  Consumers no longer come from one single type of search and automatically convert on the spot which is why having access to the right kind of data is extremely important, allowing you to see the buyer’s journey.

This makes it important that you identify where your customers are coming from, and targeting those that are coming in significant numbers.

It’s no surprise that AdWords, Google Shopping and Bing often remain the top performers, and we would agree that you should prioritise these. But, have you thought about investing in your social media advertising? We’re not just talking about increasing your earned media tokens but more importantly, the path to conversion. Evidence suggests that 71% of consumers are more likely to make buying decisions based on what they learn from social media. So, if you have something to sell, using platforms like Facebook can really bolster your bottom line.

So which social channel should you invest in?

Believe it or not, social platforms are now designed to be commercial drivers, in fact without its advertising revenue, they might not be a powerful as they are today. Earlier this year, CBNC reported that Facebook is to become the next game changer with rapid growth in user advertising spend.

Small business owener

Below is our guide to what strategies you can adopt and how they will kickstart your social media campaign to become the conversion driver you are looking for.

Facebook and Instagram

Whether you’re familiar with Facebook’s ability to step up your brand or not, it harnesses the most powerful tools available compared to its rival ad platforms.

  • Tap into your audience’s interests and behaviours you didn’t know existed.
  • It’s cost-effective – Facebook offers the most cost-effective avenues when driving traffic to your website.
  • Upload your own data – Build your very own unique audiences and using the power of its algorithm, it will channel your data to find even more users known as a lookalike audience.
  • Track conversions using third-party tools such as Google Analytics. As Google will only track conversions within a 1-day window, Facebook will use its 28-day attribution window to match up who has converted.
  • Facebook provides integrations with a range of partners such as eCommerce platforms like Shopify and CRM software like Salesforce.
  • Got an app to promote? There’s a campaign objective for this too. Track installations to in-app engagements.
  • If your business would benefit from Instagram, you’ll have access to the same tools as Facebook.

Twitter

Whilst many reports claim that Twitter ad prices are very cheap, it’s important to think about how you want to use Twitter as part of your strategy to drive conversions. The ads may be cheap, but they don’t necessarily lead to sales.

  • Offers a range of objective-based campaigns from awareness, conversion and app installations.
  • Tap into your own data – Build your very own unique audience. Twitter will require a lot of data in order for it to match up with its audience.
  • Tap into your website traffic and remarket to different audiences. As mentioned above, you need to have a healthy percentage of website data for this to work.
  • Besides tapping into Twitter’s audience interests, you can adopt hashtag and handle targeting into your campaigns. This is a great way of customising your targeting and finding users who are more aligned with your business.

Two creative millenial small business owners working on social media

LinkedIn

If your business operates in a B2B industry, then this platform can offer you a route to conversions either through your website or a native lead-generation campaign.

  • No matter what type of goal you want to achieve, LinkedIn is very costly, and you’ll need to invest a considerably larger budget to anticipate a return.

The Verdict:

If you want to see a quick return from social media, then we say Facebook wins hands-down.

In fact, there isn’t anything Facebook can’t offer to help your business generate sales. The key to converting your customers in a cost-effective manner will fall upon the type of strategy you use and how much testing you try.

If you are keen to find out about how you can drive a return on investment for your business by utilising social, get in touch on 0161 896 0425.