How Can Social Media Generate Revenue in Your Small Business?

How Can Social Media Generate Revenue in Your Small Business?

How Can Social Media Generate Revenue in Your Small Business?
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Social media offers small businesses a cost effective, often free, advertising channel for reaching the masses. The aim of a business’s social media efforts is to spread awareness and start bringing in more cash.

Of course, social media success is not as simple or straight-forward as just sending a tweet, posting a status or uploading a photo. As we know, there is much more to it.  ‘Going viral’ isn't easy, otherwise everyone would be doing it.

The best thing you can do for your small business is to be consistent. Posting relevant content consistently is the golden rule. While trying to be a star on all the social channels your business uses is great, it’s not exactly achievable for everyone. Your time and resources are often better spent on focusing energy into select channels.

Research the demographics of users of different networks. This is great for discovering what social networks line up with your target market/s. For example, if you’re product is popular among young women or mothers then Pinterest is likely to be a good bet for for your business to pursue – given the overwhelming number of Pinterest users that fit that demographic.

Analytics as well provide insight into the demographics of the audience you’re actually reaching. The data and information gleaned from digging into your analytics provides important numbers for posting more efficiently and also offer insight into areas of opportunity for your business. You might find that your social media efforts are doing well in different markets and areas to where your business usually operates or does well.

This is great for knowing your audience and customers even better and for finding out whether or not you’re reaching who you need or want to. Making a genuine impression on a user is what incites engagement and in-turn, generates leads and revenue for your business. 

Building relationships through social media is great for customer loyalty. Asides from the number of people you can reach and leave a lasting impression on with social media for your brand and business, grabbing your audience’s attention long enough and often enough is how you can turn clicks into cash. 

Converting those likes and comments into click-throughs and eventually sales is achievable if you stick to a plan, stay on brand and come across as a ‘real human’. 

Tackling social media can feel a bit like trekking through a jungle blindfolded for most so being equipped with some knowledge and know-how from a few industry experts is sure to set you on the right path. If you think your businesses’ social media ROI could be improved, consider upskilling your social media and marketing team with further education or training

Consistently posting and posting relevant content, focusing your efforts on specific channels or platforms and acting human with your responses is a safe way to assure social media success for your small business.

Spending the time and effort on creating high quality, highly engaging content that keeps your audience and customers returning for more is where you will see your social ROI grow and that sweet revenue roll in.

 

This article originally appeared on Kochies Business Builders and has been re-purposed with permission.

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