by Randall CraigFiled in: Blog, Business Development, Make It Happen Tipsheet, Sales, Social MediaTagged as: Digital Strategy, Marketing, Sales, Tactics
Forget likes, shares, retweets, and comments: how can you use Social Media to actually sell products? (Here’s a post on selling services.)
To do so effectively means understanding two key concepts: the funnel, and conversion. The funnel refers to the process that prospects go through before they actually put down their credit card and transact. Conversion refers to the percentage of people that move from one stage of the funnel to the next. Work on these two areas successfully, and sales will follow.
Converting Suspects to Prospects: The goal of this part of the funnel is to introduce your product to a large number of (interested) people. If they don’t know about it, then they will never purchase it. There are literally hundreds of ways to do this, but here are a few:
Converting Prospects to Customers: The goal of this part of the funnel is to create the sale. Unfortunately, too many marketers only use the lever of price – and neglect the many other reasons a purchaser may commit: fast delivery, better quality, better utility/functionality, product image and brand, etc. The key to successfully converting a customer is to trigger that one key reason as part of the offer. A few examples:
There are literally hundreds of different ways to use Social Media to sell products. This week, dig into the analytics of each web page, Facebook page, LinkedIn page, blog post, Tweet, and other interaction. While being on all of these venues is great, improved conversion only happens with experimentation, testing, and change.
Marketing Insight: Improved conversion only happens when YOU own the relationship. An overall goal is to move the prospect off the rented social platform (eg Facebook etc), and onto your own, using tools such as Marketing Automation and CRM.
More reading on the topic of conversion: www.randallcraig.com/marketing-insight-improving-web-roi
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