Startups have a lot of potential when are managed properly. That’s why you need to maximize every opportunity you can get to make your business grow. Our friends over at FindMyWorkspace discuss how startups can make their social media presence earn money for them.
Social media has changed how businesses reach and attract their customers, and it has shaken up the status quo. Everybody, from small businesses to big companies, now have access to the same audience available through the different social media platforms.
The difference now lies on how they use and maximize their opportunities to capture the attention of their target market, how to keep them interested and engaged, and how they can convert that interest into sales.
There are several ways to monetize your social media following.
The tips below are most especially geared towards audiences found on the top social media platform, namely, Facebook, Instagram, and YouTube. Include them in your marketing strategy, and you should be able to successfully see sales coming in.
#1 – Offer valuable content to attract customers
You have managed to gain quite a following on social media, but what are you going to do with them? How are you going to attract more followers who would actually try out your products and services?
Content marketing is a very effective way to attract exactly the right audience for your business. How does it work? You create and offer content that your target market will find relevant and useful in order for them to get hooked.
You don’t actively push your products and get in your customers’ face, which could put them off. Instead, you create something that people will remember because it strikes a chord: it could be funny, touching, or weird!
Whatever it is, it should be relatable, personal, and most of all, informative and useful. Once your specified audience connects with your content, it can now be the start of a relationship between you and your audience.
The next benefit of content marketing is introducing and establishing yourself while allowing the customer to build trust in you.
By offering something of value and giving the customer the opportunity to try it out, you are now building a relationship with him. You can now gently introduce your offers or deals, and the right customer will surely take the bait.
However, you should remember that offering valuable content isn’t a one-time deal that will guarantee that your customers will stick with you. Do it every now and then to build and keep the interest in your business.
#2 – Offer promotions and deals
The next step is to offer promos and deals to your social media audience. You are now in the position to drive sales to your business after you have successfully provided useful and relevant information.
Giveaways and discounts will attract even more potential customers and will encourage more people to try you out. Don’t forget to track your promos and special offers so that you can effectively assess your marketing success.
#3 – Make your audience feel special
One way to show your online followers that you appreciate their support and that they are special is by giving them special access, free trials, and other perks that are exclusive to them.
This strategy can actually hit two purposes in a single move: you get to give your loyal followers a treat, and you have the opportunity to have your products tested. You can ask your audience for feedback to improve your product.
#4 – Sign up for affiliate accounts
If your blog has a great following, you can use the traffic that you regularly get to advertise another company’s products and earn money on the side.
There are a lot of companies offering affiliate accounts, and you can definitely choose which type of companies you would want on your site.
#5 – Take advantage of the “live feed” feature
Facebook and Instagram now have live feed features that you can use to personalize your interactions with your social media followers. You can give a sneak peek of your day, a behind-the-scenes video, or even an on-the-spot tutorial, and you can even answer questions that followers send real-time.
The live feed and video features open up the opportunity to further showcase your expertise in your field as it creates a chance for you to interact and build a stronger relationship with your audience.
You may need to invest extra time, effort and even personnel (you can have someone manage your social media accounts for you) to carry these tip outs effectively.
If you are still starting out or you are a small business owner, these steps are also very doable on your own.
All it takes is for you to have a carefully thought out strategy and a strict schedule to implement your plan, and you should be able to effectively monetize your social media audience.