Good Ol’ Days
Back in the day, brands generated leads by a variety of complicated means. These lead lists were the most treasured goods in the sales world because they contained the names of not just ordinary people, but people who would be interested in buying.
Today, those lists are no less treasured, but the means to generate them is in the hands of every small business owner who choose to use social media.
Social Media And The Lead
Lead generation is one of the most important ways social media can help your business. With social media you can target specific demographic groups and reach out to individuals; you can create opt-in e-mail groups and generate lead lists automatically, vastly improving your brand’s ability to move product or services.
Lead By Following
Social media networks like Twitter and Facebook make lead generation a much easier prospect by allowing you to reach out to other individuals. On Twitter you can Follow people based on their interests, especially when those interests match the goods or services your company provides. Facebook ads can help you target specific groups of people by region, age, interest–whatever and however you want to reach them.
If all of this seems too confusing then I recommend you find a social media professional to help you sort it all out.
Small businesses that use social media marketing for lead generation, sales, and customer service should carefully consider its low costs and large potential gains. There are some small businesses that are doing social media marketing the right way and have seen an increase of sales. Prior to incorporating social media marketing, a business should do its homework and clearly know what kind of time and financial outlay social media marketing will cost. This is especially important for small businesses, which need to keep both costs and time under strict control. As shared on the NYTimes.com blog, the following businesses have reaped the benefits of adding social media marketing to their advertising strategies, and their examples can be copied in nearly any business’ marketing strategy.
Jewelry Company Uses Social Media Marketing
In Los Angeles is a 3-year-old jewelry store called Melrose Jewelers that is using social media marketing very successfully. As shared on NYTimes.com, the average cost of its high-end watches is $4000. Melrose Jewelers’ Director of Marketing noted to the NY Times that since adding social media to its marketing and advertising strategy, it has seen a 71 percent rise in annual sales. As a specific example, the company created four promotional campaigns on Facebook that resulted in $100,000 worth of purchases. Kyle Mitnick, director of marketing, explained: “We came up with the concept of associating a watch with a person’s identity.” This was a unique concept, and people were attracted to it. The costs to run social media campaigns were minimal compared to the return the business got in sales. In both staff time and application development, one campaign cost Melrose Jewelers approximately $7100.
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