improve business performance

How does SMM help improve business performance?

Social networks today, in many ways, are not only a tool for socialization but also a platform for building relationships with the consumer.

How to improve business performance

Social Media Marketing (hereinafter – SMM) as a type of Internet marketing is necessary for any brand. Small businesses, individual entrepreneurs and large companies use the power of social networks, various forums, and blogs to increase the traffic of corporate sites, thereby indirectly increasing sales. In this article, we will look at the stages of building an SMM strategy within the framework of Inbound marketing and the main tasks of SMM.

We will consider SMM to be an integral part of the so-called Inbound marketing strategy, according to which the task of a business is to properly set up social media channels that attract and retain consumer attention.

How does Inbound Marketing work and what is it?

Inbound Marketing is a way to promote through useful, relevant, or just interesting content. According to the form of submission, content can be presented in the form of an article in a blog, illustrations, videos, answers to questions on forums, podcasts. 

The main goal of Inbound Marketing is to gain the interest of the audience, as well as to attract their voluntary attention. Yes, the effect will not be visible right away, but a loyal audience will become an obvious plus, plus a saved budget for expensive advertising. In addition, a loyal customer who is satisfied with the quality of the service/product purchased is likely to recommend the brand to his acquaintances and thus provoke word-of-mouth or word of mouth promotion method. 

A well-developed Inbound marketing strategy accompanies a potential buyer at all stages of interaction with the brand: 

The Inbound Marketing methodology, which calls for surrounding a potential client at all stages of possible points of contact, consists of three cycles:

  • Stage “Attract”. At this stage, you need to find out who the potential consumer is, who is interested in specific goods or services, and offer exactly the content that will find a deep personal response from the target audience. It is necessary to find out what ideas attract the target audience, what difficulties they face in order to carefully think over the marketing strategy and promote the business with the help of advertising campaigns, blogs, social networks, etc.
  • Stage “Engage”. It is usually characterized by the growing interest of the potential consumer in the proposed content. It is imperative to maintain this interest by using, for example, support via chat bots; a simple and clear UX of a website plays a significant role. The challenge for a business is to communicate with customers through the channels they prefer.
  • Stage “Delight”. A good marketing strategy will allow you to not only meet the needs of your customers, but also exceed their expectations. It is necessary to provide high-quality and useful content that can impress consumers and conduct an ongoing dialogue with them, considering their complaints and positive reviews – and all this information should be regularly processed.

What is the role of SMM in general Inbound marketing strategy? Of course, it all starts with quality content, so Social Media or Content Marketing becomes the “voice” and “ears” of the brand, and is responsible for the effective presence of the company in social media. networks and the Internet space as a whole (this can be a corporate website/blog). 

The main business tasks that SMM is designed to solve:

  1. Increasing brand awareness (eng. – brand awareness). SMM allows marketers to quantify their brand’s online presence. 

Metrics can be used to measure brand awareness: 

  • the number of followers (eng. – followers) is the reach of the audience that the brand can reach; 
  • penetration of SMM posts – the number of users who will read the post; 
  • mentions 
  • reposts (English – shares) – the number of users who talk about the brand and make reposts in social. networks. 
  1. Increasing brand engagement (engagement). Social media engagement improves brand perception, increases consumer loyalty and promotes word of mouth recommendations. 

This indicator is also subject to measurement using two criteria: 

  • likes (English – likes), reposts, comments on a post – all of the above indicates how many people interact with published posts on social networks; 
  • mentions and responses are indicators of the number of people mentioning a brand and the frequency with which the brand reacts to mentions.
  1. Increase in traffic (traffic) of the targeted site. The presence of the brand on social networks makes it possible to attract an additional audience to the site / blog.

The main metrics are:

  • social traffic networks, reflecting the number of visitors – users of social networks; 
  • share of total traffic – percentage of social users networks from general traffic; 
  • social traffic bounce rate networks (English – bounce rate of social media traffic), demonstrating the quality of social media traffic. Networks;
  •  clicks on posts in social. networks, showing how effective the posts of posts on social networks.  
  1. Lead generation. This is the name of a way to attract potential customers in order to encourage them to make a purchase. Lead is a person interested in a product / service who directly contacted the company (called or sent a message) or left his contact details for further communication.
    Several metrics allow you to measure lead generation:
  • personal information (usually e-mail) obtained from the social. networks – measures the number of leads collected via social media. networks / site; 
  • downloading gated content available to registered users – shows how many people have visited the site and downloaded gated content; 
  • participation in competitions – the number of participants in any competition or events in social networks who have shared their personal information; 
  • clicks on lead-generating SMM posts – speak of the effectiveness of posts on social networks; Finally, Lead Conversion, which shows how high-quality leads come from social media. networks. 
  1. Increased income. This implies an increase in income by increasing paid subscriptions or sales. 

This indicator can be measured by the following criteria: 

  • registration/income, showing the number of registrations and income from channels in social. networks, respectively; 
  • advertising revenue (excluding costs).
  1. Community building around the brand/proof of expertise. In this case, we mean the creation of a closed community/chat for the exchange of exclusive and valuable content. Potential metrics include: 
  • Twitter / Telegram / Slack chats: the number of members and messages or tweets per member is the number of people in the chats and the degree of their activity
  • The number of daily active users, which shows how many people are actively participating in your gated community.
  1. Convenient customer service on social networks. Customer service in social networks stimulates revenue growth by increasing the CSAT (Customer Satisfaction Score) and customer retention rates. 

Possible metrics:

  • the number of support calls is a marker of demand for a service or functionality; 
  • average response time is a metric of the brand’s response rate to processing incoming reviews; 
  • average CSAT identified through surveys/feedback gathering. 
  1. Influential marketing. Recently in Russia, one can hear the word “influencer” more and more often, which means “opinion leader”, and such method of PR strategy of building an expert image as mentioning a brand or personality (for example, a company’s CEO) in the press and various media is gaining special popularity. 

Possible criteria:

  •  reposts and mentions will show exactly how many people are talking about a brand in social media. networks; 
  • influencers – you need to know how many experts are talking about a brand; 
  • Outreach is the number of journalists who ask questions about a brand.

In the article, we were able to consider the stages of building Inbound marketing and explore the tasks that SMM performs. The review clearly demonstrates the complexity of the SMM strategy and the variety of metrics that allow you to measure certain indicators.

Author: Evgeniya Mkrtychyan

PR & Marketing Strategist