Google “best marketing strategies” – you’ll see social media listed as one of the most popular. If this is the case, why do you still see marketing managers struggling to convince their CEOs to make the investment in a social media manager or agency?
From my experience managing social media for several StitchDX customers, I believe the three most common reasons are:
- There is a perceived lack of measurable ROI.
- That it can’t support business goals, like lead and revenue generation.
- CEOs believe their customers aren’t on social media and wouldn’t look for their products while scrolling.
Understanding and addressing these concerns will help you convince your CEO to invest in better social media practices. It will also position social media as a pivotal piece of your marketing campaigns, and improve your chances of showing up where your customers are. If you keep reading – I’ll help you do just that.
CEO Scare #1: “It’s not possible to clearly measure ROI when it comes to social media marketing. We’ll never know if it’s worth the investment.”
I’ll meet them halfway here. Measuring and reporting on ROI for your social media requires a different approach than many seasoned marketing professionals are used to. You won’t see 100 likes on LinkedIn immediately translate into 100 new customers, but it still could support your bottom line.
The best way to measure ROI on your social media campaigns is to set appropriate goals for your team. Are you looking to increase brand awareness through social media, or improve customer experience? You must understand how using social media to achieve these goals impacts your overall business objectives, like event attendance or lead generation.
CEO Scare #2: “Social media doesn’t support our overall business objectives and won’t help us grow as a company.”
Illustrating how social media aligns with business objectives is difficult, even for the most senior marketing professionals, but is not impossible. It’s important to understand how certain metrics on social media (follower count, engagement metrics, click-through rates) impact your business goals. Referencing other examples or case studies that highlight how social media contributes to business goals can help with this.
How a dedicated LinkedIn strategy led to better event registration numbers for M2D2
One of our customers, M2D2, is a thriving incubator for medical device and biotech startups and holds a myriad of pitch competitions, including their flagship event, the $200K Challenge. They have an ongoing goal of increasing registrations for their in-person events. To better support this objective, we implemented a strategy to increase LinkedIn followers and engagement. In November 2022, their LinkedIn page had 1,480 followers. As of January 2024, they have 2,338 followers.
When reviewing registrations for in-person events that repeat regularly, every event saw an increase in registrations from 2022 to 2023. Two events increased by more than a third of the previous year’s registration numbers. The time and effort that went into growing the LinkedIn company page has led to continually higher registration numbers for every event. This was the biggest change we made in their marketing campaigns from 2021 to 2023. We have continued to see an increase in reactions and engagement on their LinkedIn page.
The key takeaway here? It took more than a year of a dedicated, strategic approach to their LinkedIn content before we saw a measurable increase in event registrations. Social media takes time – but the results can be amazing.
CEO Scare #3: “We’re a B2B organization targeting a very specific buyer – they don’t use social media when looking for our product.”
LinkedIn, which promises “B2Bigger Reach and B2Bigger Impact” is an incredibly useful platform that houses over 60 million companies. It boasts over 130 million active users every day. LinkedIn is the leader in B2B digital advertising, and businesses that are present on LinkedIn are seen as more professional, intelligent, and of higher quality.
If you doubt your target audience is on LinkedIn, look at Facebook, which has over 2 billion daily users, and is followed by Instagram which has over 500 million daily active users. It’s more than likely that the people who make up your target audience spend time on one of these top three platforms.
My point? At some point during the day, a high percentage of your target audience is on some sort of social media platform. The major benefits of social media include the ability to build brand awareness, stay top of mind with prospects, and communicate directly with your customers. People like to send questions to a brand or learn more about their mission through their content.
If your company isn’t on social media, you are disregarding the many future (or existing) customers who are there and looking for additional information on your product or service. No one is forcing CEOs to make dancing TikTok videos or share their personal social media information. What we are doing is encouraging you to be where your customers are. Otherwise, they will find someone else who is.
Social media is a must-have when it comes to marketing campaigns. Make sure you know how it can benefit your business, and why it matters.
Addressing these concerns and providing evidence of the strategic value and impact of social media can help CEOs make informed decisions about investing in social media management. If you know your company needs social media help, but you’re not sure where to start – let us know! Contact our Digital Marketing team or click the orange chat button below right to learn more.