Black Chair Consulting Blog

How to Generate Revenue Using Social Media: An Introduction

By David Noël-Romas on May 2, 2017 8:46:27 AM |

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Black Chair uses social media to help businesses sell more. How we do that is an important differentiator, because so many "social media experts" have no idea how to convert attention into revenue, and we do.
 
We're going to give that information away for free.
 
None of this is rocket science, of course, but there are three key components that every social media strategy needs, and companies often miss the mark on one of them and then assume that the whole channel is ineffective. Our job is to help companies nail all three components, and our experience has always been extremely positive when those requirements are met.
 
Here they are:
 
  1. Content
  2. Distribution
  3. Conversion
That's it! If you nail those three pieces, your social media campaigns will print money. Of course, that is a bit easier said than done, and we'll be elaborating on each of those components individually in future blog posts. For now though, here is a brief introduction to each:
 

Content

Business owners and marketers alike need to understand that original, eye-catching photos and videos are not optional on social media. Posting high-quality visual content is table stakes--users expect nothing less. You will not get away with stock photos, and you can not be editing your posts in MS Paint. The social media platforms are chock full of amateurs who produce and share amazing content just for fun, and your business will not compete in that arena if your content is not competitive. (We learned this lesson the hard way.)
 
The good news for businesses, though, is that the social media age has produced an entire generation of people who are adept at creating good visual content, and they can be hired for reasonable rates. (We are obviously happy to take care of content creation for our clients, but the end goal for our customers is often to help them move toward taking it in-house.) The hard part, then, is conceptualizing high-quality visual content that will be relevant for your business, even if you sell database administration or something equally un-sexy. This absolutely requires some creativity, but there are always options--we'll go over them in a future post.
 

Distribution

Once you have access to a steady stream of high-quality content, you need to get that content in front of people--ideally, prospective customers. If your business already has a social media (or mailing list) following, you can leverage that following here, but you'll still want to reach past your current following. And if your business doesn't have a large following (this is where everybody starts) then you still need to reach people with your content--and by doing that, your following will naturally grow.
 
The two most important tools for reaching past your current following are paid ads and influencer marketing. We'll discuss them both in a future post.
 

Conversion

You have a regular flow of high-quality content, and you're getting it in front of your prospective customers. The last piece of the puzzle is actually getting those prospective customers to buy (or "convert"), ideally in a way which is measurable, predictable, repeatable, and scalable. Those four attributes are not easy to achieve, but at least they're feasible with online channels. Compare that to radio, for example--how well can you measure your radio ad performance? Is it even remotely predictable?
 
We specialize in setting up systems (or "conversion funnels") that guide your social media audience toward purchasing your product or service. They work for any kind of business--B2B, B2C, products, services, you name it. If your business has sales staff, a conversion funnel won't replace them, but it will provide them with a steady stream of high-quality inbound leads. We'll be sharing an entire post dedicated to conversion strategy soon.

social media marketing social ads

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