We all are in business to make money. There is no difference between small and big business. As good as we can, we take advantage of various marketing tools and opportunities that might help us to increase our bottom line. Yes, besides brand awareness and looking good, this is what it comes down to: Creating revenue and profits.
Over the past decade a new "medium" has established itself: Social Media. Social media has created endless new opportunities to reach more people, create brand awareness and, yes it has, to create more revenue.
Many businesses and big brands are struggling to take advantage of the possibilities. While in the small business world the reasons (lack of resources and budget) for being behind in social media are understandable, in the world of big brands there is no excuse for being behind. Living with modest ROI's and leaving unused and FREE resources on the table is not cool.
Looking at all big brands, lets say Fortune 1000 companies, the overwhelming majority is behind. What we mean with behind is, they are leaving incredible amounts of revenue on the table. Sometimes the reason for that is that the leadership still has not understood what social media can do and sometimes these brands get insufficient advice on what is possible. In some industries, the leadership is also hiding behind regulations. Stop being behind and wasting millions of revenue dollars, contact us for a free consultation.
Let me give you one example of bad social media marketing and leaving millions of revenue dollars on the table: Have you ever seen Twitter accounts that show a huge number of followers, but the account owner (the brand or individual) are only following less than 1% of their followers?
While many of these account owners, whoever they are, consider themselves a success in social media, in business, such accounts are really revenue and profit wasters. As a matter of fact, everything considered (including fake followers), every brand or individual that is living of selling products and services and is following less than 50% of its followers, is wasting revenue and profit. Depending on the number of followers, even those that follow 80 to 90% of their followers are leaving millions of revenue dollars on the table.
One of the problems in such a case is that even so-called social media experts, consultants, business journalists, business analysts and even social media platforms that claim to measure influence, celebrate such a marketing and business development blunder like a great success. It becomes pretty clear that not many are able to connect dots between social media marketing and business, yet!
Following social media statistics, facts and numbers for years, we have already seen the first light bulbs going off and registered changes of big brand's social media behavior. Sales is becoming more and more a focus on campaigns. It looks like many are losing the fear of being too aggressive when asking for sales on social media. This trend will continue.
For more information and tips about social media, marketing, business please visit The Main Street Analyst
for thousands of articles and infographics.
To take advantage of the opportunity for your business, contact us
for a free consultation and see how a good social media strategy can help your business.