The Social Media age has brought us useful and innovative apps like Facebook, Twitter, LinkedIn, Instagram and Snapchat. For business owner these new applications have evolved from a simple communication device to a profitable revenue model. Shama Hyder from Forbes.com has developed four ways small businesses can use social media to increase sales even further.
- Redefine what up selling means: Do you ever ask you customers to share their experience on your social media page? If not, it is very important that you do so. “Every time you don’t ask a satisfied customer to share their experience, you are leaving money on the table.” Sharing customer experiences can lead to additional customers and revenue. Upsell your business through social media because as Hyder indicates, that is what it inherently offers.
- Your customer’s brand matters more than yours: The customer comes first! A trusted brand is valuable with branding and sales being tied together, but, in the social media age the “…individual consumer’s brand and how it intersects with the company brand,” has taken more value. The question that must be asked is: What is your (the customer) personal brand and How can our business improve it? Remember you want your customer to share their stories and experiences with the brand while telling about themselves.
- Influencer marketing IS the new referral marketing: Referrals are great. Referred customers are easier to sell to because they already see the company in a good light. A family member or friend wouldn’t recommend a company if they didn’t care about the company. According to a Deloitte study, “New customers referred by existing customers…have a 37 percent higher retention rate.“
- Cross pollination is the new affiliate marketing: Hyder points out that, “Traditionally affiliate marketing was based on getting complementary service providers to promote your products or services.” If you partner with another company make sure you broadcast that partnership through both social media pages. The customers who follow their page may be different from yours but they may need a service that your company offers. Furthermore, this is an opportunity “beyond ‘owned’ resources” and it could lead to grow like you never seen it before.