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There’s no denying that content is an incredible tool for growth, but entrepreneurs often spend a lot of time and resources creating content for social media that gets thrown at the shackles. Even when your content is performing well, it can be hard to see a clear picture of how your social media strategy is helping your bottom line.
In today’s digital age, it’s important to think of social media content creation as an investment rather than a quick path to monetization. As with tax investments, the payments generated by the creation of content are not always immediate. Performance is variable and virtually impossible to predict.
While most investors look for a well-defined ROI (money coming in now, more money going out later), content creation can be a much slower process and it can be more difficult to identify what you are getting for your efforts. Traditional benchmarks for measuring ROI don’t translate well to digital marketing strategies. Instead, what I encourage entrepreneurs to use is ROACMeaning Return of attention created.
Related: The step-by-step guide to creating and publishing quality content
How ROAC impacts your business
Attention is the currency of the social media age. When you create content, what you receive in return for your creative efforts is more than just clicks or heart emojis. The real currency is your audience’s attention. This attention is a powerful (and often overlooked) resource that pays lasting dividends for your brand. When people pay attention to your company content and engage with your online presence, they are much more likely to buy your products and tell their friends about your company.
So how can you harness the power of attention for your brand? Follow these three easy steps to unlock the power of ROAC for yourself:
1. Invest in creativity
Rather than just prioritizing measurable goals, it’s important to reserve creative energy to invest in doing things that don’t scale, like investing in creating consistent content. The best way to understand ROAC is to realize that the value that attention generates is multifaceted. For example, when your audience engages with your content, it leads to new connections, better market insight, and other intangible benefits.
Content accumulates attention over time. The more you create, the more investments you make to generate new opportunity streams. Your content will continue to attract new eyes, which will only get worse over time. Your new content will create more demand for your old content and the cycle repeats.
Social media clips and video content can consistently generate traffic (based on social media algorithms) for up to 90 days, which means the content you post today may not reach critical mass in terms of views until tomorrow. next trimester. YouTube videos and blogs get future search engine traffic as people find your content useful and relevant to find answers to the questions they search on Google.
Popular YouTube creators like Mr. Beast understand the exponential power of social media. After earning millions from his popular videos, he reinvests most of his earnings into content creation to make more videos. Why? You’re unleashing the exponential power of ROAC by investing in creativity. Each new video comes with new subscribers, increasing the creative reach of your brand. He doesn’t stop after reaching tens of millions of views, he continues to reinvest his money in his content because he knows that attention is currency and the more you have, the more your brand earns.
Related: 3 Ways to Master Social Media Content Marketing
2. Think like a media company
Traditionally, the companies that generate the most attention are media companies with big budgets. But in the age of social media, you don’t have to become a media company to start getting the best return on attention. Instead, you can simply adopt the mindset of a media company.
Today’s brands have to become content companies to stay relevant. You need to be able to turn your core brand identity into a cohesive content strategy that lives across different platforms. In practical terms, a media company is not dependent on any content. They think in terms of annual content budgets. They know that to generate ROAC, they have to create a lot of content, and that content costs time and money to produce. For example, Netflix, one of the leading content creators of the streaming era, has an annual budget of just over $17 billion.
Thinking like a media company means having a diverse portfolio. Generating a positive ROAC is similar to investing in the stock market. Buying a share of Apple won’t get you into retirement, but many entrepreneurs treat their content creation that way. The shift to adopting a media company mindset is recognizing that a blog post is not enough to move the needle. Diversifying your investments allows you to provide enough depth to not only grab attention, but also keep it.
3. The growth of social networks is social currency
Online care can be valuable to your business in many ways, ways you may not have explored. For example, it could lead to top-tier talent wanting to be hired to work at your startup. Or it could mean strategic brand associations that they want to align with their product offerings.
Some of my clients have been invited as guests on national TV shows like HGTV and HSN and have even partnered with leading authorities like Deepak Chopra. Everybody wants an audience. If you are proactive enough and stay consistent with your creative investments, the right person who can change your life could be part of your online audience.
Related: Here’s how to create quality content in the age of social media
Adopt this “slow and steady wins the race” Getting closer it requires a lot of work. Some people dismiss it as a hobby or something enjoyable, but after experiencing the benefits of receiving a return of attention created for you, you will never think of social networks in the same way again. Social media generates a lot of attention. Isn’t it time your company learned to take advantage of it?