The ultimate goal of social media is to build relationships with consumers that lead to the sale of products and services. While this is the ultimate goal, social media shouldn't just be about selling. If you focus on strengthening the reputation of your business and increasing the value of your product you will gain customers. When you take these things into consideration, many business owners do not know how to measure the return on their social media investment or ROI. There are a few social media tips and tricks that can help you determine if your expenditure of time is worthwhile.Maintaining Your Customer Base Your existing customers are the best resource you have for building and expanding your business. You want to prove your loyalty to your customers by providing information that is well-researched, accurate and helpful. The contributions you share should include product descriptions, uses of existing and new products, maintenance tips, upgrades to software and customer service responses to technical issues. If your posts showcase your knowledge they will position you as an expert in your field and allow you to maintain current customers. Expanding Your Customer BaseIf your existing customers are satisfied with your product, service and efforts on social media networks they will refer your business to other potential customers. If these individuals find value in your social media network, they will become part of that network. More customers lead to more sales and more referrals.Increased Search Engine Ranking As you expand the content on your social media network the search engines will pick up on the diversity and display your business contact information to a wider consumer base. Search engine ranking is based on the keywords that you use in your posts, the relevancy of your content to the search query, age of content and the size of your network.Strengthening of the Product BrandThe point of any business is to sell the products or services. When a customer thinks of purchasing a product or service you provide you want them to think of your company and only your company. Expanding your customer base, maintaining current customers and increasing your existence on search engines, strengthen your product or brand recognition and place your business name in front of a wider audience.Increasing the Number of PurchaseOnce your social media network is expanding you should turn your thoughts toward the profit end of the business. Examine your sales and determine how purchasing trends have changed over time. If your social media networking is successful you will see an increase in the number of purchases made from your company.Increasing the Value of PurchasesIf your number of purchases has increased, you are half way towards your sales goal. Continue looking at sales trends. The second measurement of sales success is an increase in the value of each purchase. If a client is spending more money with your business than before, they have been convinced of the value of your product.Businesses need to look at their bottom line. Are you keeping your current clients and gaining new ones? Is the traffic to your website and store front increasing? Are you selling more products and increasing your revenue? If you can answer yes to all three of these questions, your social media networking effort is succeeding.
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