Steps to Boost Your Social Media Conversion Rate

Social media marketing and advertising has become imperative for all businesses today, irrespective of their niche, scale and target audience. While almost every big and small enterprise has a business page on at least one social networking site, not all are able to generate substantial profits through it or in fact any profit at all. One of the common reasons for poor-performing social media marketing strategies is overlooking the need for conversion rate optimisation (CRO). CRO helps you turn your visitors into leads and leads into your customers. In other words, it helps you drive consumers down the sales funnel and perform your desired action, like signing up for a newsletter, demo, trial, etc. This further results in reduced customer acquisition costs and improved revenue generation. Hence, start with a custom CRO strategy already for the visible success of your social media marketing efforts or hire a reputed agency like Interactive Bees, which offers expert digital marketing services to enjoy the maximum possible return on your investment. 

Find below the steps to improve your social media conversion rates easily and effectively. 

1. Define your goals 

Before starting with any social media conversion strategy, it is important to define your goals, so you can align your resources accordingly and track the performance as well. Set goals like increasing your current conversion rates by a certain percentage and gradually amplify your goals as you make progress. This will also help you understand how much work, budget, time and efforts are required to achieve a certain conversion rate and whether it is lucrative or not to invest the same here. 

2. Fix your budget 

Defining and capping your budget is crucial before starting with any digital marketing strategy to avoid overspending. While most social media advertising models, like PPC advertising, are quite cost-effective, not having a concrete budget can lead to overspending and ultimately poor ROAS (return on ad spend). If you are just starting with social media conversion optimisation and are dubious about the right budget requirement for the same, consult a 360-degree digital marketing and brand communication agency like Interactive Bees to find the required budget as per your business goals and requirements. 

3. Craft a strategy 

And don’t forget to document it! Well-mapped and documented strategy can help you earn unexpectedly positive results. Also, proper documentation and mapping help you identify the gap areas and the scope of improvement to enhance your strategies accordingly. 

The Bottom Line 

Improving your conversion rate by 0.5% can lead to a 100% increase in your revenue generation. Thus, the need for social media conversion optimisation for small, medium and large businesses is quite evident. Along with going through the above-mentioned steps, businesses can employ tactics like optimising landing pages, performing A/B testing, running dynamic ads like animated or video ads, etc. to boost their social media conversion rates. Testing and tracking the campaign performance is equally important for successful CRO. For a fool-proof and comprehensive CRO strategy, consult an established agency like Interactive Bees that offers marketing and branding services ranging from social media marketing, CRO and video marketing to SEO and ORM services. Define your business goals and budget to them and let them craft a lucrative strategy that suits your business the best!