Business owners managing financial institutes might dismiss the power of Facebook because the social service hasn't proven to be significantly beneficial for lead generation just yet. Marketing communications that include Facebook strategies can leave long-lasting impressions with prospective customers, as long as marketers don't confuse return on investment (ROI) with brand engagement metrics.
According to an infographic presented by InventHelp, marketers still mistake metrics like net followers, web traffic and social media mentions for ROI. Fewer than 30 percent of them consider sales to be an element of ROI. Of course, reach metrics like mentions are important, but those actions don't generate cash flow, and it's essential to understand how different reach and ROI are in terms of measuring corporate success.
Reach can often be associated with impressions, and improving how wide a campaign spans in the marketplace can increase the brand's awareness. In fact, a significant number of companies have benefited from Facebook's extensive reach opportunities over the past year. New research from the Adobe Digital Index for Q3 2012 found that brand engagement on the social site has risen 896 percent year-over-year. The uptick is, in part, a result of Facebook's Timeline feature, the study says.
"Mobile and social continue to play key roles in digital marketing growth. Smart marketers are activating this data; taking advantage of opportunities such as advertising on smartphones and tablets as well as capitalizing on Facebook's platform changes to reach customers in a more personalized way," Adobe's Senior Vice President of Media and Advertising Solutions David Karnstedt said.
With Facebook engagement up, marketers have the chance to increase ROI, but it's important to realize interactions on the site vary greatly from revenue or profit. Take advantage of the increase in social engagement on Facebook and develop campaigns that compel fans to make purchases or request additional information.
A digital marketing company can help, and The Lift Factor has proven to have the resources to help clients succeed. Finance marketing can be difficult to approach alone, especially via social platforms. Businesses can find the support they need to improve finance lead generation by partnering with a leading marketing communications company that tailors campaigns to speak to unique demographics.
The Lift Factor is the premier marketing resource and leader in the financial services industry, and applies its wide-ranging expertise to investment and annuity clients.