Beneficial Platform Driving Positive ROI
Image Source: E Marketing
After transforming into a customer acquisition platform, social media is now in a race to drive positive ROI. The expectation from social media today is :
1. Short term objective of delivering ROI with targeted performance marketing.
2. Long term objective of building digital experiences to win loyalty with crisis response, social customer care and engagement, etc.
Another reason why social media is gaining prominence as an ROI tool is that new groups of audiences are becoming social media friendly. For example, marketers have always targeted baby boomers through traditional & conventional media and not social media as baby boomers were never on social platforms. It was like a generation ignored by digital marketers.
Interestingly, since the pandemic outbreak, baby boomers have started using social media platforms to connect with their friends and relatives. As a result, they are spending a large amount of time on social platforms than they did earlier. Hence brands are now seeking ways to target and attract this increasingly digitally savvy audience through social media.
The growth of social media in recent years, especially during 2020, has been staggering. The transformation of this medium from a simple networking platform to an ROI-generating tool has introduced new opportunities for businesses across the world. It will be interesting to see how social media evolves further and how the expectations from social media grow. Stay tuned to know more!