No matter if you have your own business, you work for a larger company, or you are a freelancer, you probably are already present on social media with your business accounts. Everybody is advising you to do so, but you are not quite sure how you can financially benefit from the usage of social media platforms.
Well, in this article we are going to look at various ways in which you can facilitate monetization on your social media channels. Whether you are in the consulting or coaching industry, or you offer your services online as a freelancer, you probably use social media to promote your business and interact with your customers. So why not look at what options you have to generate income from your social media presence? Here are some ideas about how you can start using social media as an income stream and what tools will enable you to do just that:
How to generate revenue on social media
- Offer high-quality content tailored for your audience
If you set a goal to generate more revenue on social media, what will you do?
You might increase your spend on paid ads, or you might create new posts that are more sales-y.
But the problem with these approaches is that they don’t make your content any better.
Instead of trying to sell on social media, why not think about what you can give to your audience?
My favorite strategy is to offer value to my audience. When you create content that’s valuable, your audience will likely come back to you. They’ll share your content on social media, leaving it out in the wild. To do that, you just need to discover what topics are of interest to your target audience, what difficulties do they face, and how your expertise can be helpful for them.
- Include videos in your content strategy
Include videos in your content posting calendar and you won’t live to regret it. Video marketing has seen an insane boost in popularity in the past years and the trend is only going upwards. It is just so much more entertaining (and after all, that’s what social media is all about, right?) to watch a 3-minute video about a certain topic than read a long article that takes more time and in the end, leaves you with the same amount of new information. You can use videos in various ways, depending on what your offering is. You could for example use videos as a way to promote your new releases, or to connect with your followers by live videos where you interact with them, answer their questions and show them a unique insight into the company, or to be more precise, the people behind it.
- Lead generation
Almost 50% of people who share or like a service on a social media page, go on to purchase that same service. Therefore, a follower on social media can be seen as a qualified lead, since they are definitely interested in your product or service. It is your mission however to turn them into paying customers, and the way to do that is by having a well-thought-out content strategy that is built with the customer journey in mind and encourages the user to take action.
- Direct sales
Many of the popular social media platforms offer on-site sales possibilities. For example, Facebook, Twitter, Instagram all offer businesses the possibility of posting their products on their platforms with different purchasing options. This is great not only for driving more sales and smoothing up the online buying experience, but also for gaining more traffic to your website, as you have the option to either sell directly on the social media platform of your choice or forward the user to your website to complete the purchase.
After managing your social media pages for a while, you will notice certain patterns in the messages you receive from people. Direct messaging to brands is becoming increasingly more popular than commenting on public posts, and that’s one reason to look into chatbots for your business. Thus, having a chatbot enables you to answer specific questions from potential customers, and they can be an integrated part of your sales funnel if used properly.
How MeetFox can help you monetize your social media presence
MeetFox is a tool that encapsulates everything you need to manage your business online. Schedule meetings, host video calls, and collect payments all in one place. What does it have to do with social media though, you might ask?
If you are in the business coaching or consulting industry, then a big part of your work routine involves reaching out to different prospects and trying to schedule a convenient time for a call, answering inquiries across direct messages or comments to your social media posts. All of these activities are quite time-consuming. All this back and forth messaging and comments can be cut short by using MeetFox. Simply share the MeetFox booking link in your Instagram bio, Facebook about section or your preferred social media channel to allow users to book a meeting time that suits both of you. MeetFox will then do the rest: sending out email invites, reminders, adding the meeting to your calendars and process the potential payments.
Using an automated service such as MeetFox for handling these admin tasks can not only reduce costs and save you time and money, but it can also be of great help in showing your customers that you really care for them and makes connecting to your community much easier.
Social media is an integral part of most of our day-to-day lives. Some businesses however, use this medium as a marketing tool rather than a sales one. In order to achieve their goals effectively, they need the right tools. MeetFox is one such tool, that allows you to fully take advantage of social media to generate revenue, or at least as much as you can. If you have yet to explore the possibilities of MeetFox, take a few minutes to check it out here.