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I’m going to offer you a very simplistic point of view about social media marketing. Here it goes: Build your stadium, fill your stadium, and make your fans cheer. Building your stadium is acquiring the media by setting up the pages correctly. Filling your stadium is growing your audience by attracting fans, followers and connections. Making them cheer is consistently posting valuable, engaging, and compelling content. Simple enough right? Well, for some. But I see a number of challenges with this formula. First – and the most common one I encounter – is that many people stop at Part 1. They call and ask me to ‘set-up a page for them’ and assume that’s all there is to it. Well social media is not a directory service so simply setting it up is just the starting point.
Another challenge: some will focus too much energy on either building their audience or posting great content. The truth is, there needs to be a balance of both. For example, if you spend hours writing content and you only have 7 Facebook fans it’s not doing you much good. While strong content is foundational, people won’t magically flock to your page. At the same time, if you have 20,000 fans and horrible content, it simply means you have a large audience but you don’t have their attention. Again, it’s a balance of both that make social media powerful.
Let’s break this down further into the steps you need to take in order to achieve your social media ROI.
Now, comes the big question… how do we receive a return on our investment of time and money into social media? In what ways can we monetize social media as a small business? I’ll be honest with you. It’s going to require some work, but fortunately for you, I’m giving you the formula for actualizing your investment.