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SOCIAL MEDIA – DETERMINATE SUCCESS AND COMBATING FAILURES!

Love it or leave it, social media is here to stay and this is not an overstatement that social media has the power to build or break a business!! Studies show that about 95% of big and small business has failed in Social Media Marketing practices. Following I would like to explain the possible reasons and remedies of such social media failures, which basically are due to false strategies.

Firstly, let’s have a look at the commonly understood reasons why people are heavily investing in Social Media Marketing:

Cost effective: Social Media Marketing is practiced on all social media platforms such as Facebook, Twitter, Instagram and Google+ etc. These are the platforms on which any business can easily promote its products or services. Other platforms such as print media and electronic media are costly and do not have a longer life of their promotional campaigns. Hence Social Media Marketing is a very cost effective and long lasting platform for the marketing of the product.

Time effective: Social Media Marketing is a time affection medium of marketing as the posts stay intact on the social mediums for a longer period of time rather than print media marketing which has the life of approximately 1 day. Hence, we can say that Social Media Marketing is a very time effective marketing medium.

Quick feedback: This relates to the fact that a social media marketing manager receives a very quick feedback on his designed social media strategies. This is proved by the fact that within a day the posts engagement, reactions and comments are all updated for the admin of the social media page. It reflects for the manager the performance of his strategies on different social media pages, according to which he /she can easily identify the possible flaws in their marketing strategies and try to overcome them.

Now, if it so effective tool of marketing, it is rather vital to determine its success or failure. The basic measure used around the globe is esoterically to count the number of likes and comments to measure the success of any social media marketing campaign. These measures are considered to be an impractical approach because a study states that 80% of the people who like a Facebook page do not ever return to it.

So, how should we measure Social Media Strategies Success?

There are 3 common aspects of measuring social media strategies: Reach, Engagement and Conversion:

REACH: Number of the audience your communications has reached.

Reach is the basic element of your measurement of success. If you are not getting enough reaches, which means that the number of people impacted by your mgs is very low. It signifies that your strategies are incorrect and you need to improve your social media strategies or change them.

Examples of popular reach metrics are:

Connections on LinkedIn

Followers on Twitter

Likes on your Facebook Page

ENGAGEMENT:  After you’ve identified your reach, the next step is that you have to observe that whether your audience is even responding to your posts. To increase your engagement, you need to improve and create valuable content that would inspire people to act. With growing experiences of social media and increasing traffic, it has becoming increasingly challenging to increase the engagement on routine communications.

The metrics used to measure engagement are:

Clicks on links in your social media posts.

Retweets, Mentions and Direct Messages on Twitter.

Shares on Facebook and LinkedIn.

CONVERSION: This is the final step towards social media evaluation. It signifies how many of the target audience went to the next step and counted your lead generation funnel and join your marketing database. To effectively track Conversion, I recommend you use a number of free resources.  First, integrate Google Analytics into your Website to track your site activity.  Next, leverage ‘campaign tracking’ in Google Analytics and build trackable links for each of your social media posts.  As you do this, you’ll notice the links are way too long to include in your social media posts.

These are the helping tools for any social media strategies evaluation, through which social media managers differentiates between success and failures of social media campaigns.

As discussed above, stats showing a huge number business failing over social media, we have gathered few common mistakes that teams usually do:

Consistency: to prevent any social media strategy from resulting in a failure, Social media communications has to consistent with a long term marketing strategy of the business and well aligned with business values. The posts should be posted with a regular consistency such as 1 post a day and should be determined according to research to be carried for checking the peak time of their target audience.

Relevancy: Relevant social media platform should be used, investing in irrelevant social media channels would result in increased cost. Identifying groups and interest of your target marketing goes hand in hand with the type of communication tool you are using. For example, undisputedly, video communication has better response rate, but using too many video communications would only pose threat of low reaches to the important communications.

Active Surveillance: Social media is all about better connectivity with your target audience, where it is far easier to connect and receive feedback. It has to be developed with a longer term approach and cut down into short term targets. Without active surveillance of your communications and customer responses and adapting accordingly, there are huge chances that your target audience would take a negative impression and finally ignore your communications at all.

Call to Actions: For advertisements point of view, social media is far more different than traditional means of marketing, where on social media your customer is online primarily because of social reasons, so advertising your content without proper Call To Action engagement would only be another traffic spam.

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Reasons of Social Media Failures!

Social Media Marketing is the heart of digital marketing, it creates for your business a social recognition and a brand perception in the eyes of the consumers. Social media marketing relies on some basic principles which include:

• Idea Generation, • Post Creation and Post Sharing on different Platforms. • These are the basic functions or as discussed, the basic ingredients which makes a successful social media engagement possible.

Social Media Failures: Th failure of social medias is dependent on some factors which should be catered to when performing social media marketing.

Understanding Your Social Media Strategy:

The basic element in Social Media is to understand what your strategies are for the client and the Social Media Manager should work accordingly to the preset goals. If these goals are not predetermined and set then it’s a major possibility that Social Media will fail. Hence to overcome this we need to keep our strategies in line with our goals to be achieved in Social Media.

Be Consistent:

A Social Media Campaign Demand’s Consistency. We’re not just talking about quality and useful information for your audience, either. We’re talking about frequently sharing that valuable content. The consistency should be managed as we should manage our posts with regular frequency and tend to achieve our goal i.e. the optimization of lead generation through our social media marketing.

Social Media Fails whereas if the posts content is not consistent with our preset goals. If the posts are no consistent with our Social Media strategies we would likely not be able to achieve our desired targets and hence would fail.

Values not Matched:

You must’ve created a list of core values for your business. If not, how else can you explain to others the purpose of your business? Because you have already established goals, deadlines, and a brand image, setting up a social media strategy should fall into place. Hence your goals of social media marketing should match up your strategies goals.

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Accounting and Finance role in the modern Businesses!

In the modern era of the 21st century accounting and finance works as the backbone of the economy as a whole. Accounts and finance plays a vital role in the building of any organization. Finance and accounting (or financial accountancy) is the field of accounting concerned with the summary, analysis and reporting of financial transactions pertaining to a business. This involves the preparation of financial statements available for public consumption. Stockholders, suppliers, banks, employees, government agencies, business owners, and other stakeholders are examples of people interested in receiving such information for decision making purposes.

Financial accounting reporting is done through certain financial standards which is known as GAP. They pertain to the general accounting principles that are being genially practiced all over the world. There are two major jobs of accounting pertains to the financial recording of accounting information which are used for the purpose of monitoring the financial performance of any organization over a period of an accounting year. Whereas the finance is related to the forecasting and allocating of funds as well as risk management. In finance the basic element which it caters to is the how and where should the organization invest and employ its resources. Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainty and risk. Finance can also be defined as the science of money management. Finance aims to price assets based on their risk level and their expected rate of return. Finance can be broken into three different sub-categories: public finance, corporate finance and personal finance. Accounting keeps with all the data handling; hence these two aspects are interrelated and go hand in hand.

Incipit Solutions provide business solutions to a vast variety of clients from various sectors including finance, manufacturing, banking, investment, insurance, education, non-profit organizations, etc. Our quality towards work is impeccable and provide competitive market budget service plans. Incipit Solutions defines among the trusted accounting and financial service provider.

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Digital Media Marketing Services!

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Incipit Solutions believes in delivering excellence through our ideas and services where we accommodate specific needs and helps identify opportunities and convert them into value for the businesses.

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What is the roll of Accounting and Finance in modern Businesses!

In the modern era of the 21st century accounting and finance works as the backbone of the economy as a whole. Accounts and finance plays a vital role in the building of any organization. Finance and accounting (or financial accountancy) is the field of accounting concerned with the summary, analysis and reporting of financial transactions pertaining to a business. This involves the preparation of financial statements available for public consumption. Stockholders, suppliers, banks, employees, government agencies, business owners, and other stakeholders are examples of people interested in receiving such information for decision making purposes.

Financial accounting reporting is done through certain financial standards which is known as GAP. They pertain to the general accounting principles that are being genially practiced all over the world. There are two major jobs of accounting pertains to the financial recording of accounting information which are used for the purpose of monitoring the financial performance of any organization over a period of an accounting year. Whereas the finance is related to the forecasting and allocating of funds as well as risk management. In finance the basic element which it caters to is the how and where should the organization invest and employ its resources. Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainty and risk. Finance can also be defined as the science of money management. Finance aims to price assets based on their risk level and their expected rate of return. Finance can be broken into three different sub-categories: public finance, corporate finance and personal finance. Accounting keeps with all the data handling; hence these two aspects are interrelated and go hand in hand.

Incipit Solutions provide business solutions to a vast variety of clients from various sectors including finance, manufacturing, banking, investment, insurance, education, non-profit organizations, etc. Our quality towards work is impeccable and provide competitive market budget service plans. Incipit Solutions defines among the trusted accounting and financial service provider.