How can social media generate revenue in your small business?

- February 28, 2017 3 MIN READ

Social media offers small businesses a cost effective, often free, advertising channel for reaching the masses. When done right, a business’s social media efforts can deliver an immense ROI.

Of course, it’s 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 social media success. If ‘going viral’ was easy as that, everyone would be doing it.

The best thing you can do for your 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 necessarily achievable for everyone. Your time and resources are often better spent on focusing energy into select channels.

Do some research about the demographics of users of different networks to see what ones 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 fruitful social network for your business to pursue – given the overwhelming skew of Pinterest users that fit that demographic.

Analytics provide affordable insight into the demographics of the audience you’re reaching. The data and findings gleaned from digging into your analytics provide important information 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 identifying whether you’re reaching who you need or want to. Making a genuine impression on a target audience is sure to result in increased engagement and in-turn, generate leads and revenue for your business.  

Building relationships through social media is great for customer loyalty – whether you offer a product or service, giving your customers a reason to keep coming back to your business is paramount for your bottom line.

Asides from the reach and awareness you can achieve 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. This is the crux of using social media to generate revenue for your business.

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

For most, wading through the social media landscape can feel like walking through a jungle blindfolded so being equipped with some knowledge and know-how from a few pioneers is sure to set you in the right direction. If you think your businesses’ social media ROI could be improved, consider investigating upskilling the social media marketing personnel and functions of your business by undertaking further education or training in social media marketing.There’s more to social media than Facebook. What will help your small business?

The benefit of undertaking a course in social media marketing is having the wisdom of industry experts imparted upon you through training and education.

Consistently staying on brand, focusing your efforts and being human with your responses is a sure bet for social media success in your small business.

Investing time and effort into creating quality, engaging content that entices your audience and customers into coming back for more is where you will see your social ROI grow and revenue roll in.

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This article was brought to you by Upskilled. Qualify for Tomorrow with Upskilled. For more information on Upskilled and their upcoming courses, visit www.upskilled.edu.au or call 1300 009 924.


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