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# Social Media Money Formula

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The step-by-step formula for generating income from social media. By Tyler Garns, VP of Marketing at Infusionsoft

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### Social Media Money Formula

1. 1. Tyler Garns VP of Marketing @tylergarns w/@joemanna on chat Hashtag for this webinar: #smmf
2. 2. No Pitch Webinar! 5 Free Gifts! Revealed at the end 2 will need to be mailed to you 2 can be downloaded 1 will rock your world
3. 3. Social Media Growth
4. 4. What do you do in social media? You MUST become a Creator!
5. 5. Why should I get into Social Media?
9. 9. Facebook Time On Site
10. 10. Social Media Rules <ul><li>Listen First
12. 12. Don't Sell
13. 13. Don't SPAM
14. 14. Friends/Followers Don't Equal Money
15. 15. Then how am I supposed to make money using social media?!!! </li></ul>
16. 16. The Formula (R - Cg) * (F * Cr * Or * Pr) – (h * T) = Profit R = Revenue per sale Cg = Cost of goods sold F = Number of Friends/Followers (SM reach) Cr = Click rate on SM links (% of followers that click) Or = Opt-in rate (% of clicks that opt-in) Pr = Purchase rate (% of optins that buy) h = Hourly rate for your SM efforts T = Amount of time you spend on social media
17. 17. Why Not? (R - Cg) * (# of Purchasers) – (h * T) = Profit (R - Cg) * (F * Cr * Or * Pr) – (h * T) = Profit You need to know what to focus on. First, put lead capture & follow up in place. Then, track your conversion at each step. Test & tweak to increase profit.
18. 18. Example (\$100 - \$10) * (1,000 * .25 * .4 * .5) – (\$50 * 40) = \$2,500 Define a time period first (let's say 30 days) You sell \$100 widget that costs you \$10 You have 1,000 followers. 25% of them click on a link you put out there 40% of those opt in 50% of those purchase Your time is worth \$50/hour You spent 40 hours on social media Profit = \$2,500
19. 19. The Process This is not the formula, it's the process: SM +Bp + Lc + Fup = \$\$\$ SM = Social Media Bp = Blog Post Lc = Lead Capture Fup = Follow Up
20. 20. Example: Photography Marketing <ul><li>DVDs, CDs, Booklet on how to market your photography business
21. 21. Blog
23. 23. Infusionsoft </li></ul>
24. 24. Offer Valuable Content http://bit.ly/3SW8Nm
25. 25. Offer Valuable Content http://www.thinkbigart.com/blog/3-steps-to-social-media-success-for-photographers/
26. 26. Other Types of Lead Magnets
27. 27. Use Tools, Calculators, Surveys, Etc.
28. 28. Tweet
29. 29. Squeeze Pages Work Too!
30. 30. The Process This is not the formula, it's the process: SM +Bp + Lc + Fup = \$\$\$ SM = Social Media Bp = Blog Post Lc = Lead Capture Fup = Follow Up
31. 31. Lead Capture If you aren't capturing leads: Your followers are wasting your time You're wasting your time You're wasting your followers time You're adding to the economic crisis ;) All you're doing is sending traffic aimlessly around the internet
33. 33. Forms that DO WORK FOR YOU
34. 34. The Process This is not the formula, it's the process: SM +Bp + Lc + Fup = \$\$\$ SM = Social Media Bp = Blog Post Lc = Lead Capture Fup = Follow Up
36. 36. Targeted, Relevant Follow Up
37. 37. Results In Two Weeks!
38. 38. Strategic Profits – Rich Schefren
39. 39. Perry Marshall – AdWords Guru
40. 40. Starr Hall – Social Media Expert
41. 41. Starr Hall Endorses Infusionsoft
42. 42. Free Stuff!!! + + + Conquer The Chaos – Clate Mask, Scott Martineau Outrageous Advertising that's Outrageously Successful Unleashing the Super Idea Virus – Seth Godin Crush It! - Gary Vaynerchuck
43. 43. How To Get Your Free Stuff If you're already a customer, tweet me at @tylergarns