From a local marketer:
I remember the first time I launched a social media campaign, and I was just over the moon by the results that I got. Now, let me be clear, I’m not talking about monetary results. In fact, my first few Facebook ad campaigns got me a net profit of exactly zero. That’s right. Zero. As in nothing. Goose egg.
But I was still excited. Why? When I look at Facebook Insights, I was just over the moon. People were liking my stuff, people were sharing, and there were tons of comments. It seems like my content really plugged into this community of users on Facebook and I couldn’t be happier.
So I launched another campaign and I got the same results. People were happy, people were engaging with the content. I did this over and over again, and at the end of the campaign, after several thousands of dollars in ad buys, I still had zero conversions.
At some point, I felt like I can’t stop my campaigns. I just have to keep clicking that ad campaign button like some sort of sugar-addicted monkey in a conditioning psychology experiment from hell. I was hooked on the engagements my content was getting. At the back of head, I kept thinking that it was only a matter of time until all those likes and reactions will turn into cold hard cash in my back account. Sad to say, this is did not happen.
I tell you this very painful story because too many marketers lose money on social media platforms because of this exact practice. I’m telling you, likes do not put your kids through school. Facebook shares do not put food on the table. Comments on your content are not going to pay your mortgage.
You have to focus on your bottom line cash conversion. This is the key. Otherwise, you are throwing good money after bad.
Now, there’s the right way and the wrong way to do this. You can be so focused on making cash from Day One that when the cash doesn’t come, and there’s a high likelihood of that, you become so discouraged that you want to quit. You don’t want to do that. But you don’t want to take it to the other extreme as well.
The other extreme is what happened to me. I was just so excited about the likes, reactions, shares and comments my content was getting. But unfortunately, even if my content were to get 1 million likes, that’s not going to make much practical difference in my life because there are no dollars involved. Do you see how this works?
You have to focus on what counts. All the engagements in the world won’t help your company until and unless you are able to turn those engagements into a form of success metric that can have a real world effect on the finances of your company. This is the bottom line… as unpleasant as it may be to a lot of people.
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