As a digital marketing specialist, I understand that there are various options available when it comes to promoting your business through digital channels. Two popular options are social media management and a monthly newsletter service. Here’s a comparison guide to help you decide which option is best for your business.
Social Media Management:
Increased brand awareness: Social media management can increase your brand awareness by consistently posting content on social media platforms that align with your brand’s values and personality.
Increased engagement: Social media management can increase engagement with your brand by actively responding to comments and messages, providing an opportunity for customer interaction and feedback.
Cost-effective: Compared to other forms of advertising, social media management can be a cost-effective way to promote your business.
Time-consuming: Social media management requires consistent effort and time to develop and implement a successful strategy.
Measuring return on investment (ROI) can be challenging: It can be challenging to measure the direct impact of social media on sales, as the impact of social media is often indirect.
Ways to Measure ROI of Social Media on Sales
This can sometimes be a little challenging, but there are several ways to track and analyze the impact of social media on your business’s bottom line. Here are a few ways to measure ROI from social media on sales:
- Track social media referrals: Use Google Analytics or other web analytics tools to track the number of referrals to your website from social media platforms. By analyzing the referral traffic, you can identify which social media platforms are driving the most traffic and conversions.
- Analyze conversion rates: Analyze the conversion rates of website visitors from social media platforms by tracking the number of social media users who complete a desired action, such as making a purchase or filling out a lead form.
- Calculate customer lifetime value (CLV): Use customer lifetime value to measure the long-term impact of social media on sales. By calculating the average revenue generated by a customer over their lifetime, you can determine the value of a customer acquired through social media.
- Use coupon codes and tracking URLs: Use unique coupon codes and tracking URLs in social media posts to measure the number of sales generated by social media promotions.
- Analyze engagement metrics: Analyze engagement metrics such as likes, shares, comments, and followers to determine the impact of social media on brand awareness and customer loyalty. An increase in engagement metrics can lead to increased sales over time.
By tracking and analyzing these metrics, you can gain insights into the impact of social media on your business’s sales and make informed decisions about where to allocate your marketing budget. It’s important to remember that social media ROI may not always be directly tied to sales, and other factors such as brand awareness and customer loyalty may also play a role in the overall impact of social media on your business.
Monthly Newsletter Service:
Increased customer loyalty: A monthly newsletter service can help build customer loyalty by providing regular updates and exclusive promotions to your subscribers.
Direct communication: A monthly newsletter service provides an opportunity for direct communication with your customers, allowing you to share relevant information and updates with them.
Cost-effective: Compared to other forms of advertising, a monthly newsletter service can be a cost-effective way to promote your business.
Difficulty acquiring subscribers: Acquiring subscribers can be challenging, especially for small businesses with limited resources.
Limited reach: A monthly newsletter service is limited to the subscribers on your email list and may not reach a larger audience.
Rules for Acquiring and Emailing Subscribers
If you’re looking to get new emails and start an email campaign for an online newsletter – you will need to do it in compliance with various rules and regulations to avoid legal and ethical issues. Here are some of the most important rules to follow:
- Obtain explicit consent: You should only add people to your email list who have given you explicit consent to do so. This can be done through a sign-up form or other means where subscribers are fully aware that they are providing their email address for the purpose of receiving your newsletter.
- Provide an opt-out option: Every email you send should include a clear and visible opt-out or unsubscribe option. This allows subscribers to easily opt-out of receiving your newsletter and should be honored promptly.
- Be transparent: Be transparent about what subscribers can expect from your newsletter, including the type of content, frequency of emails, and any promotional material that will be included.
- Don’t purchase email lists: Purchasing email lists from third-party sources is not recommended as the subscribers on those lists have not given explicit consent to receive your newsletter.
- Comply with spam laws: Make sure you comply with spam laws such as the CAN-SPAM Act in the United States, which requires that emails include accurate header information, subject lines, and a physical mailing address.
- Protect personal data: Ensure that any personal data collected through your email list is protected and only used for the purpose for which it was collected. This includes securing the data against unauthorized access and keeping it up-to-date and accurate.
Following these rules will not only help you avoid legal and ethical issues but also build trust with your subscribers, leading to increased trust, increased engagement and long-term loyalty.
To summarize, both social media management and monthly newsletters can be effective ways to promote your business through digital channels. Social media management can increase brand awareness and engagement, while a monthly newsletter service can build customer loyalty and provide direct communication with your customers. Ultimately, the best approach is to consider your business goals and target audience and experiment with both strategies to determine which is most effective for your business. This way you can make informed decisions about where to allocate your marketing budget and maximize your return on investment -if you have the ability and want to grow in both aspects, pairing these services together is a great way to do just that!