Most business owners think of social media as a way to connect and engage with their customers. And while it definitely delivers on that premise, it can also have an enormous impact on a business’s bottom line. Though it’s something that isn’t all too often seen because people lack the strategy and implementation to turn social media contacts into sales leads.
So how do you figure out how to take your current friends/fans/connections and get the highest ROI out of them? You start viewing your social media plan as a road map, instead of as a fun little tool that takes up a few hours of your day.
1. Use services like Referral Key
LinkedIn is a great service, but it can hard to know where to start when prowling for sales leads on a site that has such varied focuses. That’s where a smaller site that’s integrated with LinkedIn can help you do the job that much easier. Referral Key is a B2B social media tool that let’s you create a quick profile and then draw “colleagues” in from sites like LinkedIn. From there, you zoom in on a target that you want as a client lead, and you search for those people. You can also send out “briefs” to people in your network who you think might be a good candidate for a referral.
Who is it for? B2B companies
Why does it work? It takes the guesswork out of the process because the site has one goal: to refer and be referred.
2. Contribute Expert Advice through LinkedIn Answers and Quora
Especially with B2B sales, content and expert advice is key. Information is crucial for converting online sales. That’s why larger companies invest so much in content – writing white papers, research, conducting studies and surveys. Doling out expert advice pays off, and with the Internet there to provide a foundation, you don’t need a research team and a marketing department to get your expertise out there.
Who is it for? B2B companies
Why does it work? It’s a minimal investment, and it gives business owners and managers a chance to make an impression on other industry professionals with their field knowledge.
3. Setup and Use Location Based Apps
Ever notice how almost everyone is using a smartphone these days? That’s great news for B2C companies who rely heavily on foot traffic to generate sales. Businesses like restaurants and apparel companies can benefit hugely from using location based apps like Foursquare and Facebook Places to entice people into their stores and offering incentives to shop, such as coupons for checking in 5 times in a month.
Who is it for? B2C
Why does it work? It’s a passive way of attracting foot traffic to your store, restaurant, or other business.
4. Use Consumer Review Sites such as www.buzzconstructor.com
With the shift away from product endorsements from celebrities and athletes, more and more studies are showing that people have a much higher rate of purchasing products if a friend and family suggests or recommends it. This is party due to the fact that it lowers company transparency and lets consumers decide which products they deem worthy.
Who is it for? B2C and B2B
Why does it work? People trust recommendations from other people, and tend to be long-term customers if they are recommended by online friends and acquaintances.
