Store owners often ask about the Return on Investment with social media.
We have heard it all before…. “I spent $5 on Facebook ads and made $1 million dollars”… BLAH BLAH BLAH!
But seriously…. Should you be on Pinterest, Instagram, Twitter. I have shared in the past my chart about who the customers are, where they are and what they earn HERE.
NOW… Before you get carried away thinking any of these graphics are the “ONE”, what you need to realise is that each of these mean something and each mean very little… This is where a marketing agency can help. While it may look amazing that Facebook has a MASSIVE market share, you also need to take into account these are the averages, some of these stores have a huge tribe on these platforms already and you may need a long time to get to this standing.
The reason I share these charts is to show you, you NEED to be on social media. And by using my charts to can start to see where to start.
Overall, after all my research if you sell to women I would start with Pinterest. And if you sell anything “gadgety” to men I would start with Reddit.
See, being social matters. 71% of the worlds internet users are on social media.
I have taken some of Shopify’s own industry data – from 37 million social media visits that led to 529,000 orders – to show you just how important social media is!
Here are a few facts Shopify found and how I interpret it based on my own 15 years knowledge and what I see.
- While Facebook dominates as a source of social traffic and sales you need to remember that the cost of acquisition HUGE! Facebook said recently at their own conference: That ROI on a Facebook ad is -85% on ads to cold traffic. YES! I said that! Facebook said that!
- Orders from Reddit increased 152%
- While social media is a MUST, retargeting is just as high of a priority as your sales depend on retargeting people who have shown interest in your products.
Don’t get overwhelmed by this all. If you need help we recommend our 4 step getting started package.