Social Media Marketing for Business: Using It to Make Money Online

Social Media Marketing for Business: Using It to Make Money Online

The average American spends 37 minutes on social networking every single day, the Businesses on Social Media – Statistics and Trends report suggests. The social media adoption of top brands is 99 percent for Facebook, 97 percent for Twitter and 70 percent for Google+.

Nearly 70 percent of the B2C companies have acquired a customer through a Facebook campaign. Almost 50 percent of the Facebook users feel positive about interacting with a brand through the social network. The same applies to 55 percent of the Twitter members.

Why am I sharing these statistics with you? The figures show just how important social networking can be for growing the popularity of your website or increasing the recognition of your online business.

So far, we’ve mostly talked about techniques for making money online. Today, we’ll take a look at social media marketing for business. Though somehow indirect, this activity can contribute to brand new monetization opportunities and a chance to boost revenue.

Why You Need Sensible Social Media Presence

Social media marketing for business enables you to do very efficient targeting and segmentation. In addition, it happens to be one of the most affordable marketing opportunities in the niche of inbound promotion.

Doing consistent marketing on websites like Facebook, Twitter, Google+ and LinkedIn will quickly drive your website traffic up. It’s easy to see how more traffic can result in better revenue generation opportunities, whether you have an ecommerce website, an online company or a content-based blog.

According to Shareaholic statistics for 2014, Facebook brought 23.39 percent of the social media referral traffic in June. In comparison, the website was responsible solely for 9.34 percent of the referral traffic one year earlier. The increase in referral traffic on an annual basis is 150.49 percent.

These figures suggest that the important of social media marketing for business will continue to grow. The active members of such websites are increasing all the time. Many of these members use social media to access interesting, relevant information. If you manage to reach these individuals, you can easily boost the effectiveness of your marketing efforts.

Social Media Marketing for Business: The Importance of having a Strategy

If you’re serious about making money online, you need to have a solid advertising strategy. Sporadic Facebook posts will never do it.

For a start, think about the characteristics of the target audience that you want to drive to your website. If you have a good idea about these individuals, their preferences, interests and needs, you’ll find it much easier to put together an attractive message.

Understand that each social network can be used to accomplish a particular marketing goal. Twitter is great for driving traffic to your website. LinkedIn is the place that enables you to interact with professionals and potential business partners. Pinterest is much more visual and a great possibility for promoting products.

Build You Network

It’s imperative to identify influencers in the field, connect with them and start building your social network. The people that you follow and interact with will form the backbone of your social media marketing for business strategy.

To identify social media influencers, you can rely on a couple of powerful and highly effective tools:

  • Klout: one of the most powerful and popular influencer discovery tools. The service will analyze social media content on the basis of your criteria, enabling you to do research and segment influencer activity.
  • Keyhole: this tool follows a freemium model and does hashtag tracking. It’s great for discovering content published by influencer and using this information to shape up your campaigns.
  • Traakr: this influencer management platform enables you to easily discover the top influencers in the industry, build relationships with these individuals and monitor performance.

Be Consistent in Your Content Curation Efforts

Come up with a social media update plan. Whether you choose to update your profile manually or to use an automation tool, you need to have a pretty good idea about what your audience is interested in.

Don’t focus solely on the content published on your website or blog. Sharing these kinds of links only will make your campaign quite monotonous. Choose other great sources of information to give the audience interesting details about the topic. You should also alternate between text, infographics and videos.

Get a good idea about when your audience is online. Posting at the right time will be essential for making the most of each status update. Followerwonk is a great tool for Twitter that tells you exactly when your followers are online and active. Think about the country you’re targeting, the time zone differences and the lifestyle of your audience – these may help for correct post timing.

Engage with Your Audience

Social media marketing for business has one very powerful feature – it enables you to interact with followers and learn a lot from their feedback.

Get in the habit of going through your profiles on a daily basis. Answer questions, address concerns and moderate discussions. Delete spam and hateful comments, thus creating a safe and fun interaction environment.

Even if you get negative feedback, you can use it to grow your business and address shortcomings. What website content seems to be most popular among your followers? How are they responding to your updates? The feedback you get is invaluable. In fact, some of the audience comments could give you new ideas about content for your website, delivering better services or making your products more attractive.

Common Mistakes to Avoid

Many companies commit a number of grave social media marketing mistakes that decrease the effectiveness of their efforts. Here’s my list of the biggest errors committed by inexperienced marketers:

  • 1. Sharing Too Much: limit it to a post or two per day. You don’t want to get annoying and posting a new update every five minutes is certain to get your audience irritated. People will either stop following you or they will no longer pay attention to your updates.
  • 2. Making the Content Irrelevant to the Particular Audience: pay attention to the content that results in engagement and the pieces that the audience seems to have no interest in. Your audience wants to read and learn about topics of interest, pay attention to these preferences!
  • 3. Expecting Social Media Marketing to Deliver Instantaneous Results: social media marketing is a marathon rather than a sprint. The more you work on it, the happier you’re going to be with the results. Don’t expect instant success. It takes time to build your audience and to boost the engagement.
  • 4. Failing to Nurture Relationships: you have to interact with your audience if you want to succeed. If you don’t put effort and passion in the process, you will soon lose the interest of followers.
  • 5. Using the Same Content for Each Social Media Channel: as already mentioned, each social media channel has its specifics. Choose content according to these specifics. Sharing the same content everywhere will lead to numerous missed opportunities.

Are you eager to get started with social media marketing for business? My book How to Make Money Online: The Secrets of Starting Your Own Web-Based Business will give you all of the details. To find out more about the book, please visit Violet’s Portfolio.

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