Can social media help you generate more revenue for your business?
The quick answer is YES, but chances are that not the way you think. There are 3 main social media services and knowing the difference is essential if you want to profit from it.
Three main social media services
- Social media management
The most popular one, its main purpose is to create a community and connect with valuable content. As you build this community, eventually and down the road, you will be able to add promotional posts of your product or service.
Social media management involves creating and scheduling posts and engaging with your audience in different ways. Most companies use this service without having clear expectations and later on think that social media doesn’t work as they were expecting sales instead of community growth.
- Social media ads management
Such as running Facebook & Instagram ads among other channels. There are different objectives that you can choose from. BUT, the main purpose of running these types of campaigns is to get people to your marketing funnel so they can convert into sales or leads.
It involves analyzing your audience, creating compelling ads, monitoring the campaigns and making optimizations by stopping what’s not working and amplifying what is getting a higher ROI.
- Influencer marketing
The main objective of influencer marketing is to help you position your brand and increase your sales. Now, there are lots of fake profiles out there and it is a challenge to find the right influencers and accurately measure your ROI. Many companies specialize in influencer marketing and it works.
In an ideal scenario, you should implement them all at the same time. But, most businesses budget doesn’t allow it.
For that reason, always be clear on your main objectives with your marketing director or agency. That way, they can start with a solution that helps you meet your short-term goals and gradually move towards the medium- and long-term goals.
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