The simplest answer to the question, can I generate business from Social Media? is yes. For example, one can set up a store on Facebook, join an existing marketplace or casually mention the name of a business on Facebook, Twitter or Instagram. While this is the case, it is important to adhere to all rules and regulations as defined and provided by site and page administrators.
Most business owners and marketing professionals think of these social networking websites to be most useful in brand building and advertising. For, it does not seem plausible that someone would buy a product off a picture or short tweet. While this may be the case, there are individuals currently using these outlets for generating leads in order to sell a number of products and services.
While these networking websites may have started more as a communication tool with regards to rebuilding long lost friendships and relationships, most provide far more than just a way to promote brands and market to current customers. For, when an individual can follow instructions, it is possible to use sites such as Instagram, LinkedIn, Twitter and Facebook to generate new leads.
Using social media in this manner can also save businesses and marketers a great deal of money. In fact, this type of marketing has already reduced costs for forty-five percent of businesses advertising on these sites. Whereas, most have seen an increased revenue of over 24% when utilising social media.
When it comes to using these websites to make money, the first place to start is with branding and lead generation. For, once an individual has a branded product, the individual can begin lead generation on different social media websites. In some cases, individuals have been to known run a test trial before the branded product actually exist.
In doing so, individuals have been able to use different networking websites to gain an idea of how much interest there may be in a product. Whereas, those marketing the product can also discover which audience is the most interested, then frame future advertising toward the demographics of that specific audience. After which, it can be much easier to transform the audience and others into paying customers.
In the past, lead generation often included market research, surveys or getting readers to fill out a form in the back pages of a magazine. However, the internet has totally changed the face of business when it comes to advertising and selling products and services. For, businesses now use gated content, email, paid ad campaigns and product placement rather than spending money on market research, surveys or ads in newspapers and magazines.
Ultimately, social networking websites makes the lead generation process even easier because all the information about the product can be shared among contacts and friends. After which, those individuals then share with others and so on and so forth. As such, the number of people receiving the product information is much higher than in older forms of advertising. Whereas, people whom like the product can go to a product page and “like, ” the product which then promotes even more sales. As such, the answer with regards to generating money on social networking websites is a resounding, yes.