Social Media Marketing: Are You Doing It Correctly To Profit?

As a business, you can generally use the social media to generate some sales/revenue for your business; in order for you to be able to do this, however, you will need to use the social media correctly for profit.

To profit/sell through the social media, you will need to have

  • Chosen a potentially profitable niche to sell to
  • Chosen the targets (potential customers) that you will be selling to in your chosen/selected niche
  • Defined the country(s) and/or location(s) of your chosen targets
  • Determined the type of product/service that you will be selling to your chosen targets in the niche
  • Defined the value(s) that you will be providing to your chosen targets with your product/service
  • Tested the demand for your product/service before you start a business based on it
  • Defined a uniqueness for your product, service and/or business, that will provide your targets with a reason, to prefer your product/service and/or business instead of your competitors’
  • Determined how much you would want to make in net profit in your business from your chosen niche within a specific period of time, with the product/service that you may have chosen to sell
  • Determined the number of customers/targets that you will need, in order for you to make as much as you want in terms of profits, in your business, within the specific period you may have defined

Why You Need To Do These

Everything you will do with your social media marketing to profit, will depend on the above. If for whatever reason, you choose not to do all or some of these, you are most likely to struggle or have some issues with generating sales, through the social media for your business.

You will need to do all the above in your business before you do anything else with your social media marketing, that is, if you wish to succeed with it. If you have already established a social media presence for your business, you will still need to do the above too, in order for you to profit and succeed with your business, and your social media marketing.

If you don’t know how to do any of the above for your business, you can learn how to do them, and/or you may choose to hire a business consultant to work on them for you. You can also learn more about the above too, through a course like The Profit Blueprint.

You Will Need To Set A Social Media Profit Goal And Then Create A Social Media Strategy For Your Business

After you may have done the researches and so on, that you may need to do, to profit in your business as noted above, you will then need to

  • Set or define some social media profit goal that you would want to achieve within some specific period of time in your business
  • Determine the number of customers (buying targets), that you will need to get from the social media, in order to achieve your social media profit goal, within the specific period of time, that you may have set or defined for it
  • Create a social media strategy and plan to achieve the social media profit goal that you may have set or defined for your business
  • Implement your social media strategy and plan

You can learn more about how to create a social media strategy and plan for your business, at Your Social Media Strategy And Plan.

In addition to this, you will also need to determine, how much it will potentially cost you to make as much as you want, or how much it will potentially cost you to achieve your social media profit goal, and what you can afford to do with your business social media marketing, by comparing different social media strategy/plan options for your business. You can learn more about such comparisons at Social Media Marketing Costs: Doing It For Free, At A Low Cost Or At A Premium.

Once you have determined how much it will potentially cost you to achieve your social media profit goal, or to make as much as you want through the social media, you will then need to provide your business with what it needs in terms of people, skills, resources and tools, in order for you to be able to achieve your social media profit goal, or in order for you to make as much as you want, within the specific period of time that you may have set/defined for your business to profit. This is one of the reasons why you should ideally only do, what you can afford to do in your business, with your social media marketing.

If you cannot afford what you may need to provide, to potentially achieve your social media profit goal, you can start small with what you can afford, although this may mean that, you may not be able to generate as much sales/profits, as you may wish to make within the specific period of time that you may have set/defined to profit, in your business through the social media. You can however still start small with what you can afford, and then build/grow with this over time.

Once you have determined that you cannot afford what you may need to provide, to potentially achieve your social media profit goal, you should also determine how much you can potentially make with what you can afford too.

About The Funds You May Need To Commit To Your Social Media Marketing

You can generally achieve some level of sales/profits through the social media, based on what you can afford, you will however need to do some research on this first, in order for you to be able to determine how much you can potentially make, with what you can afford using the social media strategy/plan, that you may have defined for achieving your social media profit goal. You can learn more about this at Social Media Marketing Costs: Doing It For Free, At A Low Cost Or At A Premium.

The amount of money that you are ready to or can commit to your social media marketing, will typically affect and/or determine the amount of sales/profits, that you can generate through the social media, in your business in the short and long run.

You May Choose To Do Your Social Media Marketing By Yourself Or With The Help Of Others

You may choose to do your business social media marketing by yourself, and/or with the help of your employees and/or with the help of third parties through outsourcing.

You should ideally do some comparisons to determine, if doing your social media marketing by yourself, or with the help of your employees or through third parties is the best option, that will give you the best returns, in terms of profits and sales in your business at each point in time through the social media, you can learn more about this too at Social Media Marketing Costs: Doing It For Free, At A Low Cost Or At A Premium.

Use Experts

You should ideally make use of experts for every aspect of your social media marketing, especially if you are just starting out with the social media, in order for you to be able to achieve some level of success with whatever (that is, sales, traffic, leads, subscribers etc that), you may wish to achieve through the social media in your business. You can generally use one or more social media management/marketing experts to achieve what you want, ensure some level of success with your social media marketing, achieve your profit goal, make as much as you want etc with the social media, if you want.

Some businesses may however not be able to afford the costs of working with experts, on their social media marketing, and may therefore choose to do their business social media marketing by themselves.

Some of the different ways that you can use the services of social media management/marketing experts include

  • Using such services fully for every aspect of your business social media marketing
  • Using one or more experts for some aspect of your social media marketing, that is, content creation, copywriting, social media strategy development/implementation etc
  • Getting some expert review, that is, you can for instance, choose to create your business social media strategies and plans by yourself, and/or with the help of your employees and then ask an expert to review them for you

Setting A Budget

You should ideally set a budget based on how much you can afford in your business, for your social media marketing. Once you have determined how much it will potentially cost you to achieve some specific social media profit goal, with what you can afford, as discussed earlier, you should then set a budget based on this for your business.

If you are able to achieve your social media profit goal at a cost, that is less than or equal to what you may have budgeted for your business social media marketing, you may choose to reinvest your profits in your business, in order to generate more revenue/sales through the social media, for your business.

If you, however, end up exhausting your social media marketing budget, without achieving your profit goal, you may need to commit more funds to your social media marketing. You should however only do this, if this is feasible and profitable for your business. This is one of the reasons why you should ideally use an expert with your social media marketing, since that could actually help you to avoid situations like this.

In addition to this, in order to avoid situations like that too, if you have been promoting consistently every day, based on your promotions, sales and profits tracked results (for the social media), for about 1 to 3 months without getting any appreciable results, you should ideally get some help for your business on it, from an expert (that is, an experienced social media management professional/service).

Tracking Your Promotions

Part of what you will need to do, while you are creating and implementing your social media strategy/plan, will be to determine and define how and what to track in your business, with your social media promotions.

You can track your social media promotions, by using some ad tracking codes/tags in your social media posts, and by setting up an ad tracking software/system for your business, that you can use together with your ad tracking codes/tags, to generate one or more reports on your social media sales, traffic, leads etc. You can see or preview, an example of the type of report that you should ideally get or have, from your ad tracking software/system on your social media sales, profits etc at Social Media Tracking: Are You Making Money?

To promote your product/service on the social media for profit, you will need to first of all start with some initial promotions, track the results on these and then plan your next promotions, based on the results that you may have had from your initial promotions. You will generally need to keep on promoting and tracking your social media promotions in this way, until you have achieved the social media profit goal, that you may have designed/set for your business.

Promoting in this manner, that is, by promoting, tracking your results and planning your next promotions based on your initial/previous promotions, is how you will be able to generate the level/amount of sales, that you may need or want through the social media in your business, within the specific period of time, that you may have set or defined to profit.

You will generally need to promote enough to profit, to achieve your social media profit goal and to make as much as you want, through the social media. You will also need to use enough social media posts with your promotions, in order for you to be able to achieve your social media profit goal and/or make as much as you want too. You can do these by promoting based on your tracked results, as noted earlier.

How You Should Promote

The following is how you should generally promote your products/services on the social media in order to profit.

You should ideally

  • Get to all your targets regularly wherever they may be on the social media
  • Promote daily
  • Use all the promotional avenues/options (organic promotions, paid ads, social media influencer marketing, social media groups, social media stores etc) that are available on each social media site to promote your products/services. You will need to use such promotional avenue/methods as much as you may need to, in order to profit and make as much as you want through them based on your promotional tracked results. If you are using any of such promotional avenues/options in your business, and are not getting the type of results that you want through it, you should also use the others too, in order to achieve your profit goal.
  • Promote your products/services with the different types of social media posts (text, images, videos etc) that are available on each social media site
  • Retain your social media targets, for example, with the content on your website and with opt-in newsletters

You may need to use premium (paid) social media marketing tools, in order for you to be able to promote enough to profit, and to make as much as you want through the social media in your business. You can learn more about this at The Best Way To Use Free Social Media Marketing Tools For Profit.

How To Effectively Use The Social Media Sites For Your Business

You should ideally set up a website for your business, to use together with your social media marketing, in order for you to profit through the social media in your business. You can learn more about this at How To Effectively Use The Social Media Sites For Business.

About Likes, Follows, Shares, Engagement Rates, Reach Etc

Some of the metrics that you can track through social media analytics tools include likes, follows, shares, engagement rates, reach etc. Although these metrics can be useful in some way for your promotions/business, they are however not actual sales.

You will need more than likes, follows, shares, engagement rates, reach etc, to generate some revenue/sales through the social media in your business. While these metrics can serve as a good indication that you are getting to your targets, you will however need to get some targeted traffic from the social media in your business, that will either convert to sales, or that you can capture as leads/subscribers in your business, that you can work on or follow up and then convert to sales.

That is, the targets that liked, followed, viewed, shared, engaged etc with your social media content, must click through the url links in your social media posts to your store, website and/or business, to either become your customers or potential customers, in order for you to profit. And this is one of the reasons why, you have to set up your social media presence correctly to profit, as noted and discussed in this write-up.

You will need to use all of what is written here together, in order for you to profit through the social media. Setting up your social media presence as discussed here, is what will encourage the clickthroughs/visits to your store, website and/or business that you will need from the social media, to profit.

The foregoing are some of what you will generally need to understand and/or do, if you wish to profit, achieve your social media profit goal and/or make as much as you want, within some specific period of time through the social media in your business.

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How To Make Money Through The Social Media
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If You Are Having Some Issues With Your Profits/Sales
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Social Media Marketing In Different Countries
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