Monetising Your Marketing
Guest Blog Post By Ian Cleary
You will hear a lot of people saying that the number of fans/followers doesn’t really matter but it actually does!
It matters if you are building a relevant audience.
If you’ve got a relevant, growing audience of fans/followers it makes sense that you will get more eyeballs on your content which will result in more clicks and more website visits.
Our traffic from Twitter increased by over 100% when we implemented tactics for growing our following.
The revenue on social comes mainly comes from sales on your website and relationships that turn into sales. You can’t do either without building a relevant audience.
If you want to do an analysis of your followers go to analytics. Twitter.com and you’ll see a breakdown similar to the following:
To build a good audience you need to be attracting the right type of people with the right type of content. If you have a good profile audience but poor engagement you are providing the wrong type of content. If you get great engagement but you’re attracting the wrong audience you won’t be able to mobilize this audience into action.
Yes, on social you need to be social!
You need to share your content and also other people’s content.
As you share more of other people’s content they will start sharing yours.
As you engage with more people they will engage more with you. This leads to more engagement with your content which leads to more traffic. They are all linked!
One good way of building relationships is identifying a group of influencers that are engaging with an audience you want to engage with and build a relationship with them.
As you build the relationship they will start sharing your content (if it’s good!).
If you wanted to keep track of a group of influencers on Twitter you’d add them to a Twitter list. This can be a private list so only you can see it.
When you add them to a list you can then add this list as a stream within Hootsuite and this allows you keep track of everyone on the list!
You then have a stream to keep an eye on!!
When you build the audience and relationships you’ll start getting some inbound traffic. Inbound traffic means potential for sales because sales still mainly happen on your website.
But you need to consider that when you share out content on your website on social media the vast majority of people do not see your content!
What’s the reach on your Facebook page? (i.e. number of fans to see your content)?
It’s probably going to be under 20% and it’s likely it’s fewer than 10%
Your Tweet lasts about an hour. How many of your Twitter followers are active during that hour? How many were active but didn’t see your Tweet? How many seen it but didn’t click on it.
Less than 5% of your Twitter followers (on average) will ever see your Tweets.
SUBSCRIBERS & SOCIAL RETARGETING
70% of all website traffic will never come back to your website!
Also, the majority of visitors from social media are not ready to buy. So what do you do when they are not ready to buy?
You try to get them to subscribe to your email list. It’s far easier to get people to buy over email than over social media channels.
When someone signs up to your email list you can build a closer relationship with them which will ultimately lead to a sale.
When someone leaves your website you should also retarget them with ads to join your email list because the majority of people will not.
MONETISING YOUR EFFORTS IN 5 EASY STEPS
Now that you have built email subscribers you strengthen the relationship through providing great content and then you give them opportunities to buy.
A sales funnel is a series of steps a person takes before they buy something from you. We could spend a month on this section alone because there is so much you can do.
Here is a very basic funnel.
This can all be fully automated.
The amount of people you buy depends on many things, for example:
- What words you use to describe what you are selling
- How often you ask them to buy – too much or too little
- Do you retarget them – Retarget them with offers if they don’t buy. For example, show an ad on Facebook.
- What is the offer – Price, guarantee etc.?
Understanding sales funnels and how you implement them online is one of the most valuable skills you can ever learn.
ABOUT IAN CLEARY
Ian Cleary is the founder of RazorSocial, a site dedicated to the productive and efficient use of social media through the smart and strategic use of online tools and technology.
Built alongside his business partner, Colette, their hard work has earned countless accolades, speaking invitations that include Social Media Marketing World, Content Marketing World, Boom Social, TBEX, and opportunities to write for cool places like VentureBeat, Content Marketing Institute, Entrepreneur.com, and Huffington Post.
After selling off his shares from the last technology company Ian worked for, he began a new career in the technology field with an eye toward bridging the gap between technology and social media.
While the rest of the industry was ironing out social media strategies, Ian took a more hands on approach. RazorSocial was created to help the common entrepreneur access and utilize the social media tools already available in the market – no matter their tech experience.
Now boasting 2013, 2014, and 2015 Top 10 Blog Awards from Social Media Examiner, RazorSocial has become one of the most trafficked social media blogs in the world.
With a home base in Ireland, Ian was currently ranked among the Top 40 Digital Strategists in a recent annual report by Online Marketing Institute in the US. Given his twenty-plus years of experience working for and managing companies in the tech and marketing industries, it’s no surprise he’s also ranked among the Top 50 Content Marketers in the world.
Ian is a sporting enthusiast and with his competitive nature he’s always looking at ways to challenge himself including several years at kick boxing and recently turning his hand to break dancing. He had more success with the kick boxing!