One of my favorite sayings my high school football coach always said to me was show everyone what you’re made of; show them what you’re worth. Measuring my worth and what I was made of showed through the amount of success I had as an individual as well as the success we had as a team. Transitioning into the assignment, social media is rapidly becoming the easiest and most effective way to make your business known, as well as increasing your number of clients/customers. My current business of High Energy Mobile DJs uses one social media page and one other online advertisement page.
My father (who started the business 25 years ago) and I always discuss ways to increase our business and make ourselves more heard of. To be honest, we’ve done very well over the past years and have received multiple customer service and business of the year awards in the Madison, Wisconsin area. However, the DJ and musical entertainment business is continuing to grow and becoming more competitive. Therefore; we need to take advantage of our resources now and continue making our name heard. We currently do this through one free tool, Facebook Insights. This free tool is a great way to see how many “fans” are visiting your page, how many likes you are getting; which can be converted into an equation to see how much money you could make per like.
After doing the ROI assignment, it turns out that High Energy makes roughly $15 per Facebook like! After 11 responses to 2 posts, our Hard ROI came out to 450%. Just imagine if we posted more and tried involving our fans more; we could really make some good money! This is a great free tool, especially if your primary social media page is Facebook, that allows you to connect to fans and find your fans through demographics and populations. The other page we use is weddingwire.com, which is like a google bar for brides and grooms looking for venues, DJs, dresses, etc.
Weddingwire.com has its own analytics that it provides for paying a cheap fee to use their advertisement space. It gives us the click-through-rate, as well as showing us the number of calls we receive after using the website. Our best month was July, we had 70 clicks and received 13 calls, which totaled in $4,400 spent to our business.
All in all, you need to find what works for you; whether it’s word of mouth, Facebook, twitter, LinkedIn, etc. If everything is working out great, stick with it and good luck! However; keep in mind that social media is becoming a huge success and is bringing businesses to the top of the food chain really quickly. Therefore, you might want to take advantage of some of the free resources that are provided for you and learn how to track and measure your success. By learning about your soft ROI, you’ll increase your potential chances of increasing your hard ROI and making some money!
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