3 Ways Social Media Platforms Can Boost Business Revenue
Many people worldwide use social media - according to Backlinko.com, about 4.48 billion people use it daily. This figure represents nearly half of all sentient humans on the planet. It translates to a significant audience that, if tapped into through targeted marketing and advertising, can yield significant growth in customers/clients and revenue for a business.
Below are three ways social media can boost revenue for your business.
1. Purchases from Social Media
Through social media, many consumers discover new things they wish to buy. According to Sprout, 80% of consumers agree brand awareness makes them more likely to buy on social media. And as all Sunday Brunch Agency clients know…the number one most important thing on social media is CONSISTENCY!!! As you’re posting regularly it deepens your relationship with people and reinforces your brand awareness.
According to estimates from HootSuite, 83% of Instagram users claim they discover new products to buy when using the app.
Whether you’re an e-commerce product or a professional service this applies to your business - with 34% of consumers saying they’re using it to learn about products, services and brands.
Quick bonus note on content - don’t forget the 80/20 rule.
What is the 80/20 rule? The 80/20 rule indicates that 80% of social media posts should be useful to your audience — meaning, it educates, entertains, or offers a solution to their problems — and only 20% should explicitly promote your business.
While people frequently use social media to find enjoyment, you can make it easy for them to both interact with your product or service and easily click to purchase or schedule a consultation.
2. Drive Traffic to A Business Website
Although the major objectives of a social media strategy should be making connections, deepening relationships, and providing entertainment, you can utilize it for the additional objective of directing people to your link in bio or primary website.
Driving traffic from social media to a landing page optimized for conversions can help you drive prospects into and then through your sales funnel. Remember this is an opportunity to reach a wider audience and draw attention to the many products or services that you offer.
3. Build Long-Term Relationships
Connecting with and interacting with your clients and prospects is a key marketing component. People are more likely to buy something when they perceive it’s valuable and has high worth. This is particularly important for larger transactions since customers often want a certain degree of trust. You can develop relationships with potential customers before they even realize they need you by using social media marketing techniques like targeted advertising and sharing relevant content and product information - therefore…customers will feel more comfortable purchasing from you.
In contemporary marketing, how well the power of social media is harnessed greatly determines a business's success. It's common for businesses to outsource social media marketing to an advertising agency with expertise in managing social media campaigns.
Are you ready for an advertising agency to handle your social media content creation, community management, boosting, ads, analytics, and more?
If so, reach out to the team at Sunday Brunch Agency today.