What is the Best Social Network in terms of ROI?
So many social networks - Linkedin, Facebook, Pinterest, Google+, etc. So little time. Which one do u think will give the best ROI for a small business with limited time and resources?
The answer can vary depending on your target market's profile - age group, gender, preferences etc. For example, if you're catering to Businesses, then LinkedIn is the obvious choice as far as ROI and engagement are concerned. On the other hand, if you're targeting youth, then it would make sense to capitalize through channels like Instagram and Snapchat.
Generally though, Pinterest, Youtube and Facebook are the most commonly preferred channels in companies/industries I've worked with.
Hope this helps!
In case you'd like an overview of what type of content has been doing well on social media, feel free to check out this blog:
Every social network has its own charm and unique follower pattern.
- If you are a small business selling B2C products/services Facebook & Instagram can be a goldmine.
- Twitter has also been successfully harnessed by businesses both for the B2C and B2B market.
- LinkedIn gives the best ROI, if you can use the network to your advantage for B2B business, although paid advertising can be expensive. You may try targeted campaigns like Inmail with minimal monetization & derive better ROI.
- Pinterest is also a great platform if you can attract and engage your audience.
- If you have a great network & love keeping in touch with people you know, WhatsApp can be the surprise element!
Give a try and let me know what worked best for you.
It is entirely subjective and depends on your niche.
If your niche is visual (fashion, jewelry, food) and/or your primary target market is women - Pinterest or Instagram would work best.
If your niche is geared toward business owners or the job market, a LinkedIn campaign would make the most sense.
If you're selling creative or interesting products or are looking to get the attention of your local region, Facebook would work best.
If you're a reporter or writer, Twitter makes the most sense.
What a broad question!
Depends on your business. Buyers of nuclear power stations are unlikely to have your social media make a difference.
Depends on your knowledge. If you know about one platform far more than the others, that is likely to give a better return.
Depends on your market. Which ones do they use, when and how?
Depends on the supply. The big players are always pushing hard and the up-and-coming players innovating like mad. The picture is likely to be different tomorrow.
Depends on your partners. Who is also in your supply chain or helping it somehow and what do they use? A combined approach will be far more effective than you going out on a limb.
Subject to the above, here in the UK facebook and pinterest are presently best for retail, linked-in for "professional" contacts etc.
Good luck :)
Yes, ROI is measured from many perspectives. Social engagement is one thing, sales conversion and growing actual profitable sales is another. An integrated approach that leverages powerful components, including social integration, is likely the most cost effective and performance oriented solution.
With so many social networking sites, its often hard to pinpoint each one. But if you are going to market something in a product way, you have to have your brand nailed down and be able to represent it accurately on these sites.
First, you can always hire someone to manage social networking sites for you- since you have so little time. And this can be a fairly cheap process- I'm a freelancer and I manage companies social media sites all the time. I might put in 2 hours a day for one company, or 2 hours a week for another. And for something as simple as posting blogs, or logging on to get more connections, that's adds up to about $12 an hour.
But, you're two best resources right now for free, to do yourself, is make sure your company has a Twitter and a Google+. A lot of people are against the whole twitter thing, but in reality, you don't have to post anything! Just find connections. Start following people you know, people in your area, businesses similar to you, etc. Google+ is similar to LinkedIn, but is an up-and-coming trend. You have circles in Google+, its basically a drawing board of who you are and what your brand is. More and more people are going to start to use it.
These are 2 tools that will work to your advantage, and no investment is required. But you do have to have at least the time to log on and see how your profiles progress.
Hope this helps! Good Luck!
Hi, first, what type of business do you work with? Each social media network is built differently. The effect it may have on your business ROI can vary. LinkedIn for example has been proven best for B2B, here you can connect with the business owners and decision makers of small to large scale companies. If you plan to sell products or services under this bracket, it may be the best one to use. Pinterest on the other hand can be used to sell directly to consumers as it uses a very visual approach to marketing. But it all depends really. If you can provide me with further info I'd be more than happy to help you find a match and perhaps conceptualize a strategy.
Odd that people are answering without any statistics and only opinions. Most of what has been said here is correct, but that doesn't give you any numbers to work with, which is what ROI is all about.
That being said, Pinterest and Facebook have the highest ROI for the majority of businesses.
If you have a product you can hawk on Pinterest visually then there is no competition. Consider the following:
- 80% of users are women and 50% have children (top consumer demographic)
- Pinterest is the 3rd highest trafficked social site in the US
- 43% of Pinterest members agree that they use Pinterest to “associate with retailers or brands with which I identify”, compared to just 24% of Facebook users who agree to the same use with Facebook.(source: Bizrate Insights )
- Also in the Bizrate report, 70% of users say they are on Pinterest to get inspiration on what to buy. By contrast, only 17% use Facebook for the same.
- 69% of online consumers who visit Pinterest have found an item they’ve purchased or wanted to purchase. This is compared with only 40% of online consumers who visit Facebook. (source: Bizrate Insights )
- A purchase resulting from an image click back to the source (your company's site) on Pinterest averages more than double the amount spent on Facebook or Twitter for the same
If you are selling a service that isn't easily advertised visually, Facebook may be the best answer, but there's important new information about that. You'll have to start spending some money to get your Facebook Page posts seen.
See the following on Facebook: http://www.businessinsider.com/facebook-screws-social-media-marketers-2013-12