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By Joel Goldstein.

In today’s competitive landscape, companies need to use every available method to increase their earnings. However, many neglect to maximize the value of their social media accounts. In my experience, platforms like Twitter, Facebook and LinkedIn offer massive upsides to businesses across all sectors. When leveraged properly, they can be an almost limitless source of lead generation. Here’s how to maximize social media’s income-generating potential.

Building a social media following.

The first step toward turning your social media into a revenue stream is building a social media presence and follower base. There are certainly plenty of users to attract on the most active social media websites. Twitter reportedly has approximately 330 million users, while Facebook has an astonishing 2.7 billion users. Even if only a tiny fraction of these users are interested in your industry, that’s still a massive audience for your business.

Companies who implement a comprehensive social media strategy typically do better than ones that approach their social media activity without foresight. If you’d like to develop a better strategy for building your social media following, you should start with an understanding of your desired audience. Who are they? What do they like? What platforms are they on? Answering these questions will give you the information you need to get started.

Once you understand your target audience, you can begin reaching out to them in an attempt to win their attention. The best way to do this is by regularly posting content they find relevant. This may include interesting statistics, contests and giveaways, engaging videos, and company news. Provide your audience with high-quality content consistently to start growing your social media following.

Use social media to increase web traffic.

As you build your social media following, you’ll want to start implementing strategies that allow you to profit on the increased attention. The first step in this process is getting users to move from the social media platform you found them on to your website. They aren’t going to do this on their own, so your company needs to come up with ways to incentivize their click.

One of the most proven ways to achieve this is with blog content. Posts with snappy titles and the promise of engaging content give social media users a real reason to visit your website. You may even want to consider promoting your blog posts via social media ads to get more eyes on them. Not sure how often you should be blogging? It depends on your goals, and experts suggest experimenting with your publishing frequency to find your “sweet spot.”

Optimize your landing pages.

Once a user has reached your company’s website, it should be extremely easy for them to take the next step in the conversion process. Marketers refer to this as a sales funnel. Essentially, you want to move the users who visit your company’s website toward your ultimate sales goal, which could be signing up for your service or purchasing one of your products. To accomplish this, you’ll need to optimize your website’s landing pages.

Landing page optimization means enhancing each element on your landing page in order to increase conversions. There are a few different ways you can accomplish this. For example, you may want to use a heat map to show you where users are clicking on your website. Or, maybe you want to track each visitor’s behaviour to see why conversions either succeed or fail.

Additionally, you can optimize your landing pages by completing the following steps:

• Make your offer clear.

• Simplify your page.

• Introduce clear call-to-action buttons.

• Add contact information.

• Add testimonials from satisfied customers.

• Utilize search engine optimization tools.

Utilize social media as a public relations tool. 

According to the industry report from RepResearch, sales reps value a brand’s reputation above all when deciding whether to take on a new line. Your company should also explore how social media can be used as a tool for public relations.

PR is something that every company does in one way or another. It involves deliberately managing the release and spread of information between a business and the public. Put another way, it is a strategic communications process that should allow for a mutually beneficial relationship between a company and its clients.

Social media has made PR more accessible. This presents its own benefits and challenges. When done well, PR on social media can be used to get more people interested in your business, define your brand’s image and drive more traffic to your website. These are all outcomes that have the potential to increase your company’s revenue.

One of the most effective methods of PR on social media is collaborations with other brands. This may involve curating content for other companies in your industry, or even guest posting on their blogs. Another opportunity you may want to consider here is asking C-level executives and social media influencers to publish posts that serve as PR for your company.

Remember that a new revenue stream is the end goal. 

Social media presents companies with exciting ways to generate new leads and increase revenue. The most effective way to accomplish this is by using your social media posts to attract users to your website. Your business can achieve this by regularly posting engaging and industry-specific content to its feeds, as well as by engaging in PR efforts on its social media accounts.

Once a user has reached your website, continue the conversion process by optimizing your landing pages and making it obvious what you want the visitor to do. Following these steps could be just what your company needs to turn its social media into a new stream of revenue.

Feature Image Credit: GETTY

By Joel Goldstein.

Joel Goldstein is the President of Mr. Checkout Distributors. Read Joel Goldstein’s full executive profile here.

Sourced from Forbes

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