Normally I wouldn’t touch this topic with a ten foot pole, but there is so much garbage information out there, I had to give everyone some factual information.
First, let me say, everyone is still figuring out the best ways to monetize social media. There is absolutely no magic pill to social media. Some things work for some markets, other things have the reverse effect that you were aiming for.
Here are some facts to show you that social media can be monetized:
- We’re sold thousands of tickets to different events for our clients thru social media
- Several $25,000+ consulting engagements were landed as a direct result of social media
- Social Media has generated hundreds of thousands of dollars in product sales across our client base
Bear in mind, that while most of your social media can be monetized, there are some things that are tough to track:
- How much your brand is improving by your presence on the various social media places.
- How much negative social media exposure your getting (and what this could cost you for years to come)
All in all, it all comes back to tracking. How are your tracking your marketing campaigns?
Here are four things you can implement in the next 24 hours to better track your social media efforts:
- Install and use Google Analytics – this will show you exactly where your traffic is coming from
- For phone orders always ask “where did you hear about us” if they reply “the web” ask for a more specific location
- Drive traffic from your various social media sites to targeted landing pages only
- Give out special coupon codes on your social media sites, and different codes for each of the sites.
