How to Make Money through Social Media

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After the recession hit almost virtually every business across all industries, entrepreneurs are more aggressive when it comes to managing debtrelated to their business’ operations. For many, this means drastically reducing the budget allocated for advertising and sales promotion. Not all is lost though. Social media marketing now offers a cost-efficient alternative to reach out to customers and ultimately, increase sales.

Making money through social media is a relatively unchartered territory and business owners not familiar with the Web 2.0 era may be clueless on how to thrive in this digital consumer world. There are fundamentals that need to be followed and the rest of your success depends on your business aptitude.

 

Transform your social media profile a subtle sales machine

This is applicable for individual retailers and distributors of a multitude of products or services. Meaning, you are not offering selling the products or services yourself, you’re just acting as a salesman for another party. Generating social networking money via affiliate marketing is a profitable endeavor if done right. The rule of thumb is to keep in mind that social networking sites are created to build relationships, not shove products or services down to your followers’ throat. Subtle selling through relevant and compelling content is key.

Reward your followers and fans with discounts

Giving out discounts is always a great way to build customer loyalty especially today that people are scrambling getting their finances together and improving credits scores. Incentivize your fans and followers by giving worthy price-offs that are worth sharing. News about sales and discounts spread like wildfire and you’ll be surprised how your social media following can increase exponentially by constantly giving internet denizens something to look forward to.

Identify your super fans and convert them into brand advocates

The great thing about social media marketing is you get instant feedback and you can quickly identify your patrons and your detractors. Observe the conversation and spot the fans and followers who are highly active and say loads of good reviews about you. Reach out to them privately and see how you can mobilize them as your brand champions. Pick those who are highly influential within their social circles and work out something with them to advocate your products and services. Make sure that this “endorsement” sounds organic and sincere and not as if you’re paying them tons of money to promote your brand.

Act like a person, not a business

While your primary goal is convert to convert leads into customers and your efforts are geared toward making money, effective social media marketing should be relatable. No one wants to see feeds from a profit-hungry businessman. Speak in human language, not in business jargon. Be sincere and warm, not scheming and cold. Talk to them as if you’re talking to your own friends. Taking into heart these sensitivities and intricacies will ultimately determine whether you’ll be someone people loathe or someone they adore.Remember: relationship first, sales second.

Billions of connections and interactions happen across different social networking sites every day and for sure, there’s room for your business to thrive somewhere. Social media marketing definitely presents a relatively inexpensive way to build relationships with your customers and make money.

 

About The Author

This is a guest post from Shimpy who is a financial blogger and shares financial tips on how to manage personal finances, free credit check and credit monitoring. In her spare time, she also writes about social media marketing.

 

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