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How to use social media to boost revenue

Every company has a presence on social media because it’s great for engagement. But clients today like to speak in terms of ROI. Budgets are tight, marketing options are many and clients don’t want to invest in marketing activities unless they are certain to provide substantial returns.

According to a recent study, 93% of customers expect companies to have a presence on social media and 71 % of them are willing to make a purchase from the brands that they follow.

However, driving conversions via social media can be tricky because you need the right mix of content, promotion strategies, and social media tools. Here’s an insight into what smart marketers do to increase revenue using social media.

1. Drive referrals to your website using social media

When you create and promote content, referrals should be at the top of your mind, because you can’t drive or track conversions without referrals. In addition to this, you should also ensure that the landing page your drive referrals to should be optimized for conversion.

One simple way to greatly increase social media referrals is to create automated publishing queues of your best converting content.

There are several social media management tools such as DrumUp (full disclosure, I work with them), that you can use for such an activity. Personally, I save high-referral blog posts, external mentions, and top-performing social posts in DrumUp’s libraries and set those libraries on automatic publishing schedules. I add new posts to these libraries everyday, as new blog posts get published. This activity has greatly boosted our social media referrals.

2. Attract your audience with relevant content

It doesn’t matter if you have a million social media fans; you won’t get business from them unless you there’re relevant to your business and you actually engage them. That’s why it’s critical to choose the content that you share on your social accounts very carefully.

One of the easiest ways to find great content to share is through content curation apps such as Pocket. This app can also serve as a great source for content inspiration when you’re writing marketing content.

To make the most of Pocket, I have setup my fields of interest on the app, and go to it when I’m suffering from writer’s block, or I need fresh content to share with my social media followers. Pocket also lets you save posts from the internet and tag them for easy access when needed.

3. Collect leads

When you drive referrals from social media, instead of directly converting the referrals, you could turn them into leads. This is especially advisable if you have a business with a typically long sales cycle. Each lead you collect can go into your regular sales funnel.

The simplest way to collect leads from social media is to direct traffic to a page that collects emails for your newsletter opt-in or a give away.

You need an email capture tool to collect emails from social media visitors. SumoMe offers website analytics and email capture forms that are quite easy to use. We’ve set up a standard email capture form that works quite well for us. Alternatively, you could also directly generate leads using a tool like Socedo.

4. Run promotions

When creating campaign creatives, it’s important to consider using largely visual elements with less text, because Facebook is very crowded and visuals are more likely to be noticed on crowded feeds than is text.

You can also supplement promotions with social ads and email newsletter promotions, which increase your promotion referrals.

Many small businesses run promotions on Facebook. If your promotion ideas abide by Facebook’s guidelines, you can be certain that they’re safe to run on the social platform. However, running promotions on Facebook requires a third-party app. Apps such as WildFireApp are great options.

5. Use for PR

The cost of PR can drastically drop if you use your social networks to achieve your PR goals. And there are several ways that you could use social  for PR. According to a recent study, 57.5% consumers are likely to make a purchase from brands that they follow on social. Social media PR is a great way to appeal to these consumers.

The simplest way to do PR on social is by collaborating with other brands. You could begin by guest curating content for other brands or guest posting on their blogs. Getting C-suite executives or influencers to publish social posts is another way to drive PR goals using social media.

Identifying PR opportunities on social can be tough, without a social listening tool like Brand Watch. With social listening, you can set-up keywords and listen for potential PR opportunities on social media.

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