Where to Invest in Social Media and Get the Best Return

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In today’s whirlwind of social media exists a seemingly endless string of opportunities available for investing. But where is the best place to invest in social media to get the best return?

You can put money into Facebook advertising, LinkedIn advertising and now we have Twitter advertising. Let’s not forget about YouTube advertising that is also available. In addition to all that, we have some of the more traditional Search Engine Optimization tools (SEO), Google Ad Words and more.

Plus, don’t forget about the options you have for putting ads on your own website linking to products you’ve created, ads within your podcast and video ads you could create in your own YouTube videos. Oh, and don’t forget about the approximately 100 bazillion (an accurate number!) other choices.

So, where is the best place for your business to advertise, where to invest in social media? Where are you most likely to get the biggest bang for your buck?

Well the answer is, as it so often seems to be….

It Depends!

Sorry! There is no “one size fits all” answer. There is no place where it is right for everyone. What would work well for a restaurant or pub would not necessarily work well to promote a dental practice, an author or professional speaker. What works at one time of year might not work as well in other times of the year.

Yet, in the midst of each being separate, here are some guidelines and ideas which can help you as you sort through the ever-changing (and frustrating!) maze of options.

Where does your audience hang out? Think about where people in your market play, work and live. What are their interests? What other likely groups would attract them? You can be there on LinkedIn and Facebook through groups. As you become known in those groups as a person who contributes value, others will want to be with you.

Facebook Ads

These can be specifically targeted towards key markets. Unlike Google advertising which can target based on your e-mail messages, for instance, you can use a Facebook ad towards everyone who recently became engaged, had a new baby, got married or other momentous times in life. Facebook’s “About” contains a wealth of information on who is going through important life-changing events. Think about this if you’re in a business that can provide products and services for those events.

Twitter Tips for Advertising

Twitter is now offering advertising which can be used to generate business.

Twitter is a valuable tool for real-time events. Now your business can engage with Twitter users through promoted tweets, trends or accounts. You can promote specific twitter messages (tweets) so that it reaches people who are interested in that topic.

For instance a dentist might have a tweet about getting a free initial check-up to build interest in her practice. Put a shortened link in reference to a special page with a video describing what you can do to help potential dental patients.

You can also use Twitter to search for those who have expressed an interest in your topic. For instance, if you are a chiropractor in Sydney you would be wise to have regular searches in place for tweets that sound like “Anyone know a good cure for back pain?,” or, “Is there a good chiropractor in Double Bay?” You get the idea.

Yet another way a brilliant marketing restauranteur could use Twitter would be to find out about a local event happening near your restaurant. Find out the hashtag that is being used by that group and monitor it. You could offer a special for them that is related to their areas of interest.

For instance you could have a discount if they say a particular phrase. Think about how this could generate a lot of business for a nearby restaurant at the end of the day when hundreds of convention attendees are looking for some drinks, snacks and meals following their big event.

Groups

Both Facebook and LinkedIn offer a marvelous way to hang around people who share common interests. A wise marketer will get to know some key groups, contribute value to them and then let it be known that you can help. Provide links to valuable, problem-solving solutions on your site. But be very careful to not advertise and try to sell in the groups. That would be like joining a church or synagogue and shouting about your special deals during a prayer! Treat each point of contact with the reverence and style that is appropriate.

The opportunities are limited only by your imagination. I don’t have time to write about all of the options for you here including SEO, Google Ad Words and more. Tools like HootSuite and TweetDeck can be very useful in this as well.

Find the best approaches that work for you in your business. Experiment. Test. Use Analytics. When you find what works, test other aspects. It is an on-going and never-ending process.

It is also a lot of fun to watch the results come in and fill your bank account!