You can make money on social media indirectly by building your platforms and raising awareness about your business. Follow these steps:
- Create a “join list” tab on Facebook. Be sure to offer an enticing lead magnet to persuade visitors to join. Take note that many big autoresponders (such as GetResponse) have built-in tools to make it easy for you to build a list through social media.
- Hold an online contest. For best results, use a tool like Rafflecopter to make your contest go viral. This app lets you give away extra entries to people who tell their friends about your contest (such as people who post about your contest on Facebook).
- Use Facebook paid ads. You can send prospects to your lead page or to a low-cost tripwire offer. As always, you’ll want to do testing and tracking in order to optimize your ad campaign.
Take note that Facebook’s ad platform lets you choose a very targeted audience, which boosts conversions. You can target your audience by demographics, such as age and location. You can target them by interests, such as if they’ve demonstrated an interest in dog training. You can even target them by behavior, such as if they visit Facebook using a mobile phone.
Facebook also lets you create retargeting campaigns. If someone visits your site and leaves without buying a particular product, you can set it up so that these visitors see an ad for that product the next time they visit Facebook. This tends to boost your conversion rates, as it reminds prospects to come back to your site and purchase the offer.
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- Build anticipation for a product launch. The idea here is to create a series of social media posts to get your niche buzzing about the product. Be sure to encourage your followers to like, share and comment on your posts.
- Create a pinned post at the top of your Facebook group / page or Twitter account. For example, you might create a new pinned post each week that features a particular offer (such as a popular product with a discount).
- Use tools to manage your social media campaigns. It can be fairly tedious to manage and post to multiple social media platforms at once. A tool like HootSuite.com makes it easier to schedule content and post content across multiple platforms at the same time. You can also use tools like this to track performance, so that you know what sort of content your social media followers respond to the best.
As always, be sure to test all your monetization strategies to create optimal profits!
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