Why you are losing money managing your own social media

Written on 16 May, 2016 by Verity Meagher
Categories: Social Media | Tags: advertising, facebook, marketing, online business, online marketing, social media, twitter

Does your business have a barely-visible social media presence that hasn’t been updated in years? Worse still, do you have an active social media strategy that isn’t showing any meaningful results?

Small business owners in Australia know the importance of having a social media presence, after all more than half of all Australians use one social platform or another every single day. But what many lack is the experience and skills needed to run organic and paid campaigns to drive more people to their website.

The issues with managing your own social media presence

Former Apple CEO Steve Jobs once said:

“A players hire A players, but B players hire C players and C players hire D players. It doesn’t take long to get to Z players.”

When it comes to running and managing your business and employees you’re an A player: it’s what you’re strongest at. But when it comes to managing your business’s Facebook ads or organic Instagram posts, how would you rate yourself?

Are you familiar with terms such as retargeting, Facebook pixels, custom audiences, Audience Insights or ad fatigue? If not, you’re probably not an A player when it comes to social media management, and you may be costing your business revenue.

How businesses lose money managing their own social media profiles

In-house social media management can cost your business in a number of ways, including:

Time - your time has a price. The 4-10 hours it takes you to manage your social media accounts are hours that could be spent on other areas of your business. If you have an employee doing your social media management, they are paid a salary and unless they are an A star player, you’re not utilising that true value.

Ad costs - poor ads cost more money to run, fact. Facebook revealed that ads which are not relevant to customers result in a higher cost per click than relevant ads. Running your own ads without using best practices and custom audiences will end up costing you more, making it difficult to run successful and cost-efficient ad campaigns.

Fewer customers - ultimately by doing your own social media management you’ll generate less leads and sales than if you hired a professional. It has been shown that simple changes to ad copy and audience targeting by someone with experience can rapidly increase conversions and click-throughs.

Reverse branding - you leverage social media to raise awareness for your business. But if you fail to update your accounts on a regular basis, you actually end up doing more harm than good. People who come across Facebook or Instagram account that hasn’t been updated for months will question your business because it doesn’t look professional, and they may think you have since gone out of business.

Do you feel your business could do very well on social media but you just aren’t sure on your next move? Then maybe you need a social media management specialist who can invest their time and knowledge into your business to get the results you need.

Click here to learn more about how a social media management specialist can grow your business.