Most businesses want to know how money invested in social media leads to revenue. While they may understand that social media and creative, consistent content is important, they're not clear on how it's directly reflected in sales figures.
As someone who sells my social media expertise, I have struggled in the past to clearly and concisely explain to employers and clients how social media fits into the bottom line. Then I discovered this video from Scott Stratten of UnMarketing. In 5 minutes, he explains how social media fits into the sales funnel on his Facebook Page.
The answer? It doesn't.
Social media is just what it purports to be - social. You are building trust and positive associations with your business and its followers. Paid advertising and marketing efforts are essential layers to back up your social content, but neither can stand alone.
Here is the entirety of Scott's talk on social media in the sales funnel:
It's easy to put impressions and reach into reporting on social media efforts. Those are noteworthy numbers, and can give you an indication of if your engagement methods are working. In fact, it's essential to have someone running your social media that has an in depth understanding of reporting, social media advertising, and is creative enough to know how to engage fans. Your social media is your brand ambassador and is crucial to sales from the point of view of trust.
Reporting on impressions and reach as it relates to sales though? Not so much.
But you know what you have control over that can bridge the gap between your social content and your sales?
Here's how it goes:
1) You see a piece of content from an account that makes you smile or want to share it.
2) You start to see more from them, and maybe like a few more posts. They are a business related to either a business or an interest of yours.
3) Then you see an offer, a course, free information that interests you and you...
4) Sign up with your email address to receive more content that is relevant and interesting to you!
If this is what your business is doing, you now have an audience that authentically wants to be there and are directly engage with you.
NOW they are in the sales funnel and the rest is up to you.
Let me know what you think about social media and revenue in the comments below!
p.s. Want to stay on track with your engagement so you can build those authentic relationships with fans and partners? Sign up for my awesome sauce VIP list below, and your first freebie will be my Daily Social Media Engagement Checklist. How cool is that??
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