‘Monetize your business’ social media engagement in 3 steps 

In social networking marketing just having followers is not enough. One has to critically think of how best to generate revenue from the social media experience.

In today’s business world, online presence has become very vital. Ignore it and your business will be lagging behind. Indeed online marketing is taking paramount position in reaching out to potential clients.

It is about time you turn your socializing page into a revenue generation one. The only caution here is that you need to differentiate between what is personal and what is business.

Have you carefully taken time to observe what people really do on social networks? Let me briefly share that with you:

They write biographies about themselves, post pictures they wish to share, update others about their achievements and also follow others they are interested in.

Getting your business socialized online has tremendous benefits. Internally it allows you to even be able to manage your subordinates from your desk. You can connect to them and generate ideas you will not get from the boardroom. I strongly believe that all the staff we have might have tremendous talents that are hidden in them which we can tap to improve our business. Thus the days of moving around to effectively manage is near over.

Imagine you want to visit a branch office somewhere in Koforidua, you can spend some time at your desk looking through the pages of the branch staff to acquaint yourself with their faces and their interests before visiting. It has been noted nearly a third of the people in the world patronize social media such as Facebook, Twitter, Skype, Google+ etc.

Take a moment to ask yourself if you are meeting your customers and employees where they can be found. Be it for the purpose of market survey, or to be able to come up with innovations that will fit what users out there want, you need to socialize your company.

Know the Concept

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Understanding what really goes on with social network is very important to enhance your chances of monetizing your company’s social experience or exposure. One likened the Facebook, Twitter, Google+ and LinkedIn to towns and their ways of looking at things.  Knowing that the individual social network gives you the map to go around the town. Your ability to notice an individual consumer online, gives you the opportunity to know his/her many friends and what they are talking about, thereby a chance to further profile your target audience.

Whichever business type you might be involved in or thinking of bringing on board the online train, there is a social network that could just help you socialize it.

Mainly B2C social consumers tend to be people who are more willing to share information about themselves. You can largely find these people joining social networks like Facebook and Twitter etc. They are regularly updating their Facebook status, leaving their reviews on products they purchased or on services they patronized.

For B2B, your kind of social network will mainly fall under the likes of LinkedIn, Skype etc. These are mostly used by professionals looking to build business communities for networking or by qualified graduates looking for links.

Build a community

Community building is very important when it comes to social networking as an online marketing strategy. Participants’ feedback is very crucial, be it product or service you are offering. It offers you the opportunity to clearly understand the effect your marketing activity is having on the ground. This enables you to channel your work effort towards practices that are really working. By building a community your target market is also well defined and because you are listening to them you can properly pitch sales that fit their needs.

Monetizing your social media

According to various researches conducted, it has been noticed that fans of Twitter and Facebook who are followers of a particular brand are more likely to recommend them to friends. A perception among consumers has also revealed that brands that are not engaging in social media are certainly becoming out of reach.

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You should not just self-promote; you can share links and product reviews and start conversions about you product. This builds those essential listening channels that you can utilize in improving upon your service or product. Fortunately as it stands today, social media page set up is penniless or far less expensive.

Your engineering department can monitor online, how customers are using the products on the market so as to improve upon and create better products. You can also increase the rate of conversion in subsequent campaigns if strategies are adopted to identify customers browsing experiences. So in a more comprehensive way, customers’ experience can be captured in knowing what their choice of product and their thoughts about your company is.You can also know what they are saying about which ever brand you have out there and their reaction to your existing campaigns.

Start thinking about how twitter can direct traffic to your chop bar, or how Facebook can excite people about your traditionally designed bags and hats. Proper management of your customer experience feedback linking it with recommendations on twitter for instance, can help you improve service quality and operational performance.

Today I will entreat you to talk to an expert about how to monetize you social media presence. There are various mechanisms you can adopt today to ensure marketing and operations are linked together. Driving advertising impressions alone is not enough, but a true dialogue is needed to create customer satisfaction.

As you listen to what your customers are saying about your business through social media, kindly do well to answer them .Remember that word of mouth have been proven to be a very effective tool for sales. If customers reviews are bad, don’t hold back but ask their opinion on how best to improve your product for them. Word of mouth; good or bad, can have a powerful effect on sales.

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