What varies is what the bottom line means to you and to a company, and how it will affect your business. For insurance agencies ROI may be the number of quotes, for retail the number of sales. If you are a marketing or communications consultant, you will want to know how your client defines their ROI.
Rethink, optimize, and initiate your definition of ROI. Rethink what your ROI means to your company. Optimize your marketing, communication, social media strategy to meet your ROI. Initiate your strategy once you understand your ROI.
Calculate the interest of your brand and the messages; calculate the interest internally as well among employees and departments. This way, you’ll know what to initiate.
Too many marketers, and perhaps other departments in charge of social media, are operating without a social media strategy. Knowing your ROI definition helps create a strategy. Your strategy is your ROI definition that will help guide your social media practice.
A social media plan is similar to fishing for freshwater fish with saltwater tackle, or vice versa. There are different baits and strategies for fresh and saltwater fish, just as there are different social media strategies depending on the ROI definition.
Again, think that all companies define their ROI differently. As an entrepenuer, thinking this way will help you tailor marketing plans for specific goals and objectives. If you represent a company it will allow you to tailor your specific goals and objectives to your company’s ROI.
What do you think ROI, the bottom line end result, means?
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