By Ini Augustine
Social Media Return on Investment (ROI)

Let’s face it. Social media can either be an entrepreneur’s   blessing or worst nightmare. Yes, setting up a social media page on popular sites, such as Facebook and Twitter, is free. However, in order to maximize the reach of your site, you will have to invest in advertisements and social media managers. With limited funds available, you cannot afford to waste your money on ineffective social media campaigns. This begs the question- how can you assess your social media site’s ROI?

Keep Track

If you have ever created a Wordpress blog, you will understand how addictive it can be.  Users constantly check their blog page’s statistics after each blog post to determine the number of followers and visitors to the site per day. A sense of accomplishment is created when the user realizes hundreds of people have read the most recent post. Tracking customer events creates a similar feeling in entrepreneurs and is critical to assessing social media ROI. These customer events include:

·         the number of phone calls received per day

·         the number of visits to the business’ physical location per week

·         the number of visits to the business’ website per week

 It must be noted, however, that tracking is most effective when it is done both before and after the social media strategy has been implemented.

Be Realistic

Social media ROI isn’t instantaneous. Studies have shown that it takes 7 to 10 interactions before a customer decides to do business with a company.  Depending on the industry you are in, it can take a minimum of 6 months and as much as several years to see results. People in sales and retail specifically usually only see results after several years. Additionally, average ticket value must also be considered. Average ticket value refers to the average sale that can be obtained from a customer who does business with a company. This value depends on the industry the company is in. For instance, the average ticket value of a BMW dealer is $1600 while that of Target is $600. Nevertheless, tracking customer events requires you to be patient and to compare these events on an annual basis. Annual revisions allow you to determine what is and isn’t working.

Make the most of your social media investment by: keeping track of customer events, being realistic, and calculating your ROI. The results of these analyses can help you to revise your marketing strategy so that your business can flourish.

By Ini Augustine
Pinterest has become THE social media platform people turn to when looking for ideas for an event. The beauty of this online tool is that the ideas on display actually been executed by people just like you. If you have been lucky this Valentine’s day, and are now planning a wedding, Pinterest should be first on your list.

If you are engaged and wedding bells are going to ring soon, every single decision is a challenge for you.  The world seems shiny and new, and your eyes are probably still dazed from the gleam of your new diamond. Once you come down from your love high, you’ll realize that Pinterest  is a great place to organize your thoughts and plan your dream wedding.

Here are several ways  you can use Pinterest to plan your wedding.

For Your Theme: If you haven’t decided on a particular theme that you like even after going through a hundred wedding magazines, check out Pinterest and you’ll have a lot to choose from. All you have to do is to decide the location you want to have your wedding reception at and Pinterest will present you with a range of ideas  with pictures to inspire you.  

For Your Inspiration: Ask any bride and groom planning  their wedding and they’ll tell you that managing all the details of their wedding is the hardest thing of all. Not only will Pinterest provide you with numerous ideas,  it will also help you manage wedding day stress. Using images from Pinterest, you can manage every micro detail by simply putting everything you like on your board. The ideas you like can be ‘pinned’ onto your board so you can consider them later.

For Your Wedding Dress: One of the most difficult decisions that you’ll have to make is choosing a wedding dress that is just right for your personality. Unfortunately, most of the designers who have made a name for themselves are very expensive. This is where Pinterest comes in. With this unique social media website, you can gather a couple of ideas for your wedding dress and bring them together in your own way. Who knows? You could even end up making your own elegant and breathtaking wedding gown!

For Your Photographs: Weddings are never complete without a photographer capturing memories through their lenses. Since people no longer like to take conventional pictures, Pinterest offers a bundle of great photograph and prop ideas that you can use for you own wedding. To find these, all you need to do is to type in the phrase ‘wedding props’ and voila! You’ll be presented with a hundred ideas that you can either copy or mix around to create something unique for your wedding.

From deciding the bridesmaids’ dresses to selecting the flower arrangement, Pinterest will quickly become a must have. One of Pinterest’s best best advantages: you can use it for free! So hop onto this social platform and start planning your big day.