What is Return on Engagement?
Return on Engagement is nothing but the reprisal of what you have invested in the process of engagement.
Return on Engagement is a very new thing!
A lot of people may not even be aware of the term Return on Engagement;
As a business, you are set out to try new things that bring revenue for your business;
Return on Engagement is one such thing;
Myself, I found this interesting idea on a journey to apply new things to my business that will help me see a profit in the revenue!
Return On Engagement will focus on what you are getting back!
Return on Engagement will help you see and evaluate what has worked well for your business;
Say, how far has your content has reached;
How has the audience reacted to your post;
This will help in making the brand name stronger;
Your audience will always remember you for your engagement online!
To keep in touch with your audience, to promote engagement;
You need to employ ROE Marketing Strategies for your business; it helps your business from engagement to influencing.
How do you know that the post you’ve posted promoted engagement?
- From the likes, shares, comments
- Whether the post made any influence on your audience
- Number of post saves
- Did it leave a positive impression on your brand?
These are some of the factors to know that if your posts have promoted engagement!1
When you see that your posts are not performing well, it’s high time you need to apply ROE Marketing Strategies for your business!
Using these ROE Marketing strategies will help your business in a way that you set to see profits for your business.
It will help you know how far you have created an engagement that creates brand equity for your brand;
Return on Investment
Return on Investment always focuses on what you have invested, how much you have invested, where you have invested, and how much did you make out of it on monetary terms.
You can calculate your return on investment with a formula, the return of the investment divided by the cost of the investment.
You know what? When you see 5 – 10 % profit in the return of investment, it is considered a good ROI. when it exceeds 11%, it is considered to be an excellent ROI.
Why is Return on Engagement important for a few Industries?
Return on Engagement is important for every other industry irrespective of what field you are in.
Whatever you do to promote your business, you need to calculate your Return on Engagement. If your Return on Engagement is not that impressive, you are allowed to employ ROE Techniques that will work the best for your business.
If you can’t choose a single ROE strategy or strategies that will help your business see a profit, approach a Digital Marketing Agency that is doing great in promoting businesses using ROE Marketing strategies.
That should be the only option for you to proceed without losing money again in trial and error!
Return on Engagement is very important for a few industries because they can’t count on the other marketing strategies!
Return on Engagement is not about earning money, it’s all about making your audience know who you are, influencing your audience to use your service/product where they will be encouraged to influence the other set of the audience!
It’s all about participating in social media by engaging your audience through posts and engaging with your audience/customers, prospects, and the general audience.
It’s always not important that you must sell or serve products and services that are relevant to your customers. It is bound to be varied at times!
To keep your audience stick with you throughout this period is by engaging continuously with them.
How do you do it?
There should always be planning before keeping your legs in anything!
There should be plans if the strategy succeeds and there should be plans if it doesn’t make any difference!
However, employing ROE strategies has never failed in promoting one’s business!
- You should always monitor what someone says about your brand
- When you participate on twitter, closely watch how many retweets you get for your tweet. They can boost the impression on your brand and promote sales by driving leads!
- Make sure you respond to all of your messages! It builds a positive sentiment over your brand. Try to solve the problems if they happen to state any. Don’t take social media for granted, any day! There is a saying that businesses that respond quicker, seem to last longer and grow in time!
You should also understand that the ROE is not an instant revenue builder. It takes time. Whenever you employ an ROE strategy, it will take its own time to work and show you results. When they do, the results will never disappoint you!
Top 7 Ways to get a high ROE for your Business!
As you already know that the Return on Engagement is very important for any business for that matter.
I’ll now mention the top 7 ways to get high ROE for your business!
- Talk more about a topic, keep topics about your brand aside, discuss it later!
- Participate in Q&A sessions
- Share another person’s content, don’t forget to give them the credit (Reposting)
- Engage your audience
- Use Emojis, emoticons ( or whatever you call that )
- Hashtags help you go a long way!
- The method that works all day, any day, any time, conduct contests, and giveaways!
How do you measure your return on engagement?
You know that a return on investment is always about money!
Here, the return on engagement will help you see the impact your brand has made on your audience.
It’s easy to measure the impact your brand has made on your audience, you must have employed ROE strategies after all.
ROE can be measured by the following methods,
- The time that is spent on your page, video, Ads.
- Number of the audience that is converted to customers
- Number of downloads
- Number of shares
- The positive impact made by your brand
We’ll see how it helps in brief!
The time that is spent on your page, video, Ads.
The longer the time that your customers tend to interact with you, the more they’ll build a positive image towards your brand.
A Brand that is investing in quality content marketing, blogs, and posts can witness a higher level of time spent by your audience on your content, that’s what you can call a brand message.
This is considered more important and it creates more impact than clicks and impressions, and ultimately it has the added benefit of increasing your Return on Engagement.
Number of the audience that is converted to customers
You can easily calculate this.
Check for the number of audience in your business profile that is converted into customers.
This type of conversion is accelerated by the display ads, and other marketing efforts and ROE strategies you employ to build brand awareness for your brand.
Number of downloads
You can advertise your apps and games that you have created and set it out for calculating your Return on Engagement.
The number of downloads is directly proportional to the impact created by the return on engagement.
Number of shares
This is considered one of the most important metrics to see your return on engagement that keeps growing day by day.
It is a great sign that your brand is reaching brand equity.
This is why employing ROE Marketing strategies is important for a brand.
The positive impact made by your brand
You should also see the positive impact that is made by your brand through engagement.
Usually, it is determined by the comments and the outreach you receive for your brand.
If you witness a rise in your positive feedback, that means your brand has left a great impression engaging.
A brand’s positive image leads to conversions.
Employ ROE Marketing Strategies to develop a positive image on your brand through engagement.
These are some of the ROE Marketing Strategies and the methods of calculating ROE that you should be aware of as a business.
There are still more ROE Strategies and measuring methods left, only the ideas that worked well is mentioned here.
You can contact a Digital Marketing Agency for a clear cut view on what kind of ROE Marketing Strategies would suit your business.
I hope you find this article useful.