Why Your Social Media Follower Counts MatterThursday, July 23, 2015
What you focus on will direct how your company grows. When it comes to your marketing, if you don’t know how your metrics are tied to your financial goals, it will be nearly impossible to grow your revenue and profits.
Unfortunately, many people allow the Oxytocin hit they receive from Instagram likes to fool them into believing their marketing strategy is more effective than it actually is.
While the fuzzy feelings Oxytocin provides are nice and can serve as motivation, the fact remains that you can’t make payroll or pay your mortgage with Instagram, Twitter or Periscope followers — only with the actual dollars those followers generate.
Sometimes this is direct conversion: a follower books your services because they’ve turned into a loyal fan. Sometimes it’s a much longer game: building a large following in order to show proof of potential customers for a future book deal or national product line (if you want a book deal, for example, most publishers will require you to have a minimum of 5000 engaged, non-spam Twitter followers, in addition to an Instagram and blog following). Whatever your strategy, those numbers need to do the same thing in the end: convert to revenue.
If you want your social media marketing to be effective, know what financial and business goals you want to reach, and work backwards until you figure out exactly why you need your followers, what you need from them, and when.