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Top Ways To Increase Your Business Revenue With Social Media In 2021

Top Ways To Increase Your Business Revenue With Social Media In 2021

Admin 04-03-2021

Social media platforms are a hub of opportunities for new businesses. It gives you the widest reach as compared to any other media channel. And that is why it is also the most popular channel among businesses across the world. It is also one of the cheapest marketing and advertising channels.

But social media has come one step further from simply helping you market your products and/or services. You can quite literally draw sales from social media with social media features like Product pins and Instagram Shopping. Even so, there are many ways that social media can help you to increase your sales in direct and indirect ways.

You can direct your customers to your website or show them a catalog to allow them to purchase your products directly. We are going to see how you can do that with the top ways to increase your business revenue with social media in 2021.

Choose your platform wisely

Imagine selling blankets in summers or gumboots in an arid area. It simply does not make sense. Similarly, promoting your brand or product on the wrong platform will not give you to result that you desire.

Then does that mean that you can create a business account on every social media platform in hopes of reaching your target audience? You can do so if you have a large team of social media managers or you have social management software to help you manage all your social media accounts from a single interface. Without social management software, you will end stretching yourself too thin with all the work and may not be able to share quality content on any of your social media profiles.

Focus on one social media platform that your target audience uses the most. See which platforms your competitors are more active on, and which platforms do they get the most engagement from. This way you will know where most of your audience, which platform do they use the most.

Another way to do the platform research is by searching out keywords or hashtags on every platform. Where is your keyword most talked about? How many times your hashtag is used in posts? What is the average engagement rate on such posts?

You will get the answers to such questions when you do thorough research of popular platforms. Instead of targeting every social media platform, focus on the one that has the largest number of your targeted audience. Once you solidify your presence on one platform, your audience will follow you on others as well.

When more people know your brand, your brand trust increases and so does the sales.

Provide value through your content

Be it textual content or audio/visual content, it needs to be useful for your audience so that they can engage with it by commenting on it, liking it, and/or sharing it. If your content sounds promotional all the time then your audience will not want to see it more. But, it is important to promote your product and services too. So, what would you do?

Seek for a middle ground where you can provide valuable content to your audience and place your product in that subtly enough to make it sound more informational than promotional.

To do that, you can understand how your consumers use your product and show them new ideas where your product will be useful. For example, if you are a brand that sells casual clothing, instead of telling how your clothes are perfect for summers, you may want to share a travel image series with a picturesque summer destination with a brand model wearing your clothes.

Such action pictures help your audience to picture themselves using your product and that not only increases their interest but also gives them a reason to buy your products. In the above case, if someone likes the pictures you posted on social media and is planning a vacation to a similar place, they may think of your brand to shop for their clothes.

Encourage users to share your product/services

Your current customers are your greatest strength when it comes to promoting your products/services. The users are more prone to listen to the advice of a real human being instead of a brand. And that is what makes, user reviews a strong point for further conversion.

When you ask your users to post pictures or videos featuring your products, their followers will be able to see it too. And as you know, when a person you know recommends a product or service, then you are more likely to purchase it than a brand that you haven’t heard about does.

So, encourage users to click a selfie with your product, or ask them to share what they liked about your service in exchange for some incentive to motivate them. This could be a discount on their next purchase from your brand, a giveaway product, or a feature on your account.

To track such posts, introduce a unique hashtag with which your existing users can post your product. When they do, make sure you repost the best ones on your profile to let others know about your existing customers’ experience.

Your audience will be able to connect with the experience of others like themselves and will be motivated to buy your products or services.

Think influencer marketing

Influencers are people that have created their fan-following by strategically sharing pictures and videos that fall into a certain category or industry. For example, there are beauty & lifestyle influencers, tech influencers, food & travel influencers, and many more.

As the name suggests, these influencers have the power to influence the customers’ buying decisions. Many users on social media trust these influencers almost as much as they might trust their friends or family.

Collaborate with the influencers from your industry to reach a new audience. Ask the influencer to feature your product seamlessly into their regular content or give a review for your product or services. You can also tie-up with them using a set of unique discount coupon codes specific to the audience of the influencer you are collaborating with. This means that anyone who follows the influencer can use the coupon to get discounts on your product using the code that the influencer share with them.

This way, you will know which one of your collaborating influencers has the most number of followers interested in your brand and you can drive more sales for your products/services along with new customers.

Run advertisements

Social media allows you to share your normal posts with images and videos, but it also offers you are a platform to run ads. The main reasons behind considering to run a social media ad are:

            It gives you higher visibility based on your keywords or user interests.

            Ads are more goal-specific as compared to your regular posts.

            Offer you added advertisement features like call-to-action button, link to your website, lead generation forms, etc.

With these added benefits at a minimal cost, you should consider running a social media ad to increase your business revenue. Moreover, your ad is visible to whoever is interested in your industry, and that includes the users who do not follow you yet. With ads, new users will discover your brand and may even purchase your products or services.

You can ask a digital marketing agency to help you with running ads on social media to make sure that you target the right audience, with the right creative within your budget.

Every social media platform offers you feature to run ads by paying some amount of money. Here too, you need to be careful about choosing your platform.

Conclusion

Unlike any other form of digital marketing, social media is a two-way form of marketing that also includes your customers. They engage and interact with you as a brand and you need to make sure that they keep doing it to increase your brand trust.

When the customers trust your brand, it does not take long to make a purchase decision. This is how social media can increase your brand revenue indirectly. It can also help your boost your sales directly with features like Product Pins by Pinterest, although, these features are limited to only some countries. Till then, you should keep using these tactics to increase your business revenue with social media in 2021.

            Choose your platform wisely

            Provide value through your content

            Encourage users to share your product/services

            Think influencer marketing

            Run advertisements

Do you agree with us on these points? Share your thoughts on today’s blog in the comments section below. If you think that this blog will help someone you know, then don’t forget to share it. Also, check out our other blogs to find more information on social media marketing and other forms of digital marketing.

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