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What’s the average Social Media Marketing Conversion Rates

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What are the top 8 things to understand when starting a social media campaign?

What are the top 8 things to understand when starting a social media campaign?
We often are asked by clients and friends what kind of conversion rate they can expect from a social media marketing strategy?

So to answer this question we had to dive deep into the internet to find enough data to provide some intelligent insight with respect to social media marketing

and the associated conversion rates that result from a good solid social media marketing campaign.

Here are the top 8 things to check before starting a social media marketing strategy to ensure you maximize your average social media marketing conversion rates.

  1. Search Engines are still the king of sales
    Search Engines like Google and Bing are still the number one source for sales according to Heap. Think about it and it makes perfect sense. When you need something I mean you really need something you don’t turn to your social feed and hope it shows up with an attractive offer attached to it, do you? Well, your customers don’t do this either. They turn to Google, Bing or even Amazon. This is why SEO is important and has a big role in the success of your site in e-commerce. Consider doing a 50/50 split of your marketing efforts both for Google AdWords and also Instagram and Facebook ads to ensure you get a good mix of traffic.
  2. Build a mobile-first experience
    Ensure your site is 100% mobile friendly and optimized for mobile users. Social Media was born on the phone. While sites like Friendster and MySpace existed before the mobile revolution social media and social media marketing strategies only became relevant with the increase in mobile users. For that reason alone it is imperative to have a highly optimized funnel for your mobile customers coming to your site or checkout funnel via social media. Many social media marketing strategies suffer a poor conversion rate simply due to the site and its mobile experience and not the effectiveness of the social media marketing conversion rates. This can often leave a young novice social media marketing agency at a loss since they will be getting false positives in regards to the effectiveness of their social media conversion rates. Working with an expert to get your sites design mobile first and mobile optimized for social traffic will ensure you don’t succumb to this common pitfall many stores overlook.
  3. Know your audience and know them well
    Know your customer and know your target audience. Knowing who you are trying to reach is half the battle in marketing is it social media marketing or traditional marketing. Finding that right audience can mean the difference between an effective social media marketing conversion rate with success or a complete waste of time. Since your time is finite. Spend extra time talking to friends, customers, and colleagues to determine what you could improve on your stores’ mobile experience.
  4. Become one with your customers
    Spend time on the site shopping. There is an old saying in business. “Always walk through your front door”. The idea behind this beautiful tip is that many store owners be it digital or physical stores often tend to come in thru the back door of the shop. For a bar owner this could literally be the back door and for an online store merchant, this could be the admin panel to a WordPress site or your Shopify admin. Spend a lot of time playing the customer role. Make notes of each problem you encounter and how you could make it better. Once you have an exhaustive list. Hire a developer to tweak and clean up the flaws and optimize your sales funnels for social media traffic.
  5. Stay informed and aware of competitors
    Check a competitors site and or campaign to learn from what they are doing right and also what they are doing wrong. Often the easiest way to get some initial insight into what social media marketing strategy will get you the highest conversion rate is to simply look at a competitor’s website. Equally, you want to make sure that your offers are different from any competitor to establish your differences and show you are a unique brand/company. Buy a few products from your competitor and make detailed notes of the entire experience from end to end. Doing this will help you fabricate a successful online social media marketing campaign and also ensure you maximize social media conversion rates.
  6. Spend time on content development
    Often overlooked and undervalued is quality content your targeted audience is actually interested in. Often social media marketing strategies focus too much on products and selling a single product and fail to realize the potential for brand awareness. Brand awareness is often overlooked by marketing professionals since most of them don’t even know what it means or entails. Brand awareness in its essence is the reason you grab a Coke instead of a Pepsi or maybe gas up at Shell versus Mobile. Overtime brand awareness can influence buying decisions so it is not a near team marketing technique. That being said, it should still be a high priority to building a lasting and functional marketing campaign over a period of 5 years or more. This means taking that audience you have curtailed in tip #2 and working it into a content development plan where you carefully craft engaging content which your target audience will engage. Consider building value and not product sales funnels. Getting visitors to your site using things like size guides, or articles about specific topics (like this one) are much more valuable to a potential customer than the products you sell. After several engagements with your brand/site the goal should be to turn visitors and patrons of content into paying customers. Equally, your content will give you valuable insight into what articles and topics matter most to your customers. Try and find an article that matches your company or service and compliments the products and or services you sell. This will ensure it reaches the right people and has maximized effectiveness. Calculators, tools, charts, information, and other resources are great ways to add value to your site and make it more authoritative in the space.Video content has a higher conversion rate than image or text content that is posted on social media networks. Video content is the way to go as it has the highest engagement rates.
    Consider these numbers from HeapScreen Shot 2018-10-10 at 4.10.32 PM
  7. Beef up your social media software arsenal
    There are many tools which can help you manage your social media marketing online and also keep track of what is working and not working for you. This is crucial to a successful social media marketing campaigns as you want to get the best conversion rate from your social media marketing efforts. Software suites like Sprout Social and Hootsuite just to name a few are great tools for this very purpose. Social Media Today has composed a list of the top 5 Instagram Analytics Tools you can also take advantage of. You will want to use these tools to follow relevant hashtags and potential influencers for your campaign. Using software is a great way to steadfast your success in narrowing down an audience and also key influencers in your space. Your social media marketing conversion rates will vary depending on your efficiency with these tools and other facets of your strategy like the value of your offer and existing social reputation. 
  8. Capture emails at any given opportunity
    Building an email list can be easy if done right. Offer a teaser product or coupon code in exchange for the customer’s email. The email has a long-term value in itself and is very valuable when composing an online social media marketing strategy. A customers email can be used to find lookalike audiences (people who have similar interests and habits) and reach out to these consumers with similar offers. This is the real power of social media marketing and where the real focus of any successful social media marketing campaign. Having a well thought out offer and popup for visitors to your site is a great way to be able to market to them later. Additionally, you can build out your target audiences for specific offers and become more efficient earning higher social media conversion rates than without your email lists. For that reason, it is important to incentivize email collection from your sites visitors and potential customers. When advertising on social media be sure to offer a teaser item of incentive to visit the website and enter their email. This will ensure you have a constant flow of new customers to market to.

 

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Tim Matheson

Tim is a software engineer and computer software consultant based in Newport Beach, CA. He has worked with hundreds of companies implementing custom software-as-a-solution business administration tools. Tim's specialty is streamlining process using software for small to large businesses. When he's not saving the internet from dismal failure he enjoys riding his bike along the beach, and the occasional cup of coffee.

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