Lead Conversion via Social Media
Is lead conversion via social media viable?
As a business, converting leads into sales is at the very core and foundation of your organization’s success. Prior to social media, the sales funnel – although still a challenge – might have seemed a little more straightforward than it is today. But, the good news is that social media is only going to increase your odds of turning leads into loyal customers and brand advocates. You just need to tap into what makes your brand unique and decide how to relate that on your social media platforms.
Why You and Your Company Should Be On Social Media:
Instead of giving you the top 5 reasons, here is the only that matters:
All of your customers are there. It’s true. Whether your company is B2C or B2B, your customer base is on social media. For B2C the brand’s role on social media might be clearer, but social media can be just as valuable for B2B companies looking to influence opinion leaders in various sectors. The decision makers at various organizations may very well be on social media, and your business’s social media presence and activity can have a large effect on your brand’s reputation.
How to Convert Sales Leads on Social Media Platforms:
As Social Media Examiner puts it, more companies are recognizing that revenue generation has to be a top priority of social media strategies, and we completely agree as long as brands strike a balance between lead generation and nurturing relationships through relevant content and engagement.
Tips to consider for lead conversion:
Understand how your sales funnel works and the role social media plays. You need to have a clear understanding of how your current sales funnel is working in order to determine where social media should come in. For the majority of companies, their social media audience is earlier in the sales process and therefore, should not be bombarded with hard sales tactics. Social media can serve as an excellent tool to build brand awareness and showcase company culture and values.
Optimized conversion tools on social media platforms. Now, although social media followers are “usually” in the beginning stages of the sales process, this is not to say there aren’t plenty of people are might be willing to buy today, and with that said, you need to make the buying process as seamless as possible on your social media platforms. Below is one easy solution to expedite the sales process, but there are countless other tactics that can be employeed in a strong social media lead conversion strategy.
Suggestion: Allow people to convert or buy directly on your Facebook fan page. Typically, people don’t want to work hard to engage with a brand or accomplish a task – especially if it involves an exchange of time and/or money. With customized tabs or apps on your social media platforms you make the process easier for your customer and you will likely see a significant jump in revenue.
Provide opportunities other than straight sales conversion. Because you are reaching people at different stages in the decision making process, it is important not to neglect those who aren’t buying immediately. Social media provides a unique opportunity to reach potential buyers before your competitors do, or even if your followers are aware of your competitors, social media provides an avenue to build a genuine, stronger relationship through relationship management. By providing relevant, useful content – whether it be through direct interaction or tailored blog posts – social media fans and followers will be more likely to use your services in the future because of the relationship you’ve built with them. The best way to maintain these relationships is by turning those fans and followers into a soft lead.
Suggestion: To nurture a soft lead, ask your social media audience to subscribe to your email newsletter. Then you can use a combination of tailored content and email marketing to slowly guide these leads through the sales process.
Measure your results along the way. If you don’t measure your results, it will be hard to determine if social media is worth the time or money being put into it. If social media campaigns are done in a strategic way, the results and changes in sales over time will speak for themselves; however, you will need to track the progress along the way. An easy way to do this is to apply, Google analytics campaign tracking or another service to the links you post on social media. Most social media campaign managers like to define results by the following:
- Cost per impression
- Cost per engagement
- Cost per soft lead
- Cost per hard lead
- Cost per sale
You, with the help of your campaign strategist, will have to determine which measurements will be the most relevant for you and your company. Ultimately, though, relevant content, user experience and a solid social media sales funnel will be the most important for lead conversion and sales.