Can Social Media Drive Small Business Growth?

 Can social media drive small business growth?
 
Probably not, unless…
 
It’s part of a clear strategy. Let me explain…

You Need a Strategy

Just getting likes on a Facebook page is unlikely to help you grow your business – on its own. The key is for it to to be part of a clear and measurable process.
 
At a high level, most business social media strategies should contain the following path.
  1. Your social media activity should generate traffic to your blog.
  2. Your blog should offer something to an interested reader to download. The reader would need to ‘pay’ for this something with their email address.
  3. You should have a low cost logical next step for them to try you out.
  4. The next logical step should be to buy your core product.
 
To understand how this works let’s look at an example.
 
Let’s assume I am an independent financial advisor. What I want is for people to book me on a retainer to give them advice. But, as we know, people buy from people they know, like and trust.
 
There is a gap here between someone buying my services and someone who may benefit from my services. To close this gap let’s work backwards and identify the ‘logical next steps’.

How To Close the Gap Between Strangers and Customers

To do this you need to ask yourself a series of questions. These will reveal a pathway for a stranger to follow to become a client.
 
What question should we ask?
 
What smaller thing could I offer or do that would help people get to know, like and trust me?
 
In this case the next thing maybe a one off low-cost financial health check.
 
If we keep asking the question then the next thing could be an in depth ‘How to’ downloadable PDF guide. This guide may reveal how to do the health check for yourself.
 
And going back still further. We could write an article explaining techniques and ideas for maintaining financial health.
 
Of course, how do you get someone to read the article? This is where social media can be very helpful.
 
So to recap.
  1. Someone sees an interesting post on Facebook promising to reveal a clever way to save money.
  2. They read your article.
  3. They download your free health check guide.
  4. The reader decides it’s something they need to do. But it’s too complicated or time consuming for them to do. so…
  5. They book your health check.
  6. The health check was great. Next, they upgrade to your full service
This is a Sales Funnel. One of the most powerful growth tools for any business to master.

How Measuring Can Explode Business Growth

At the beginning, I said it important to be able to measure. We can measure how many clicks and shares our post got. This way we can learn what our audience responds well to. Over time we will get better at crafting the right post to attract potential customers.
 
We can then track how effective the article is. Do people want the free guide? What is the conversion rate? You can then experiment with the article and try things which may increase the conversion rate.
 
You can then track how well the guide performs. How many people get in contact with you off the back of it. You can experiment adding a more prominent telephone number or website address where they can apply. All this is measurable and can you can adjust it to improve performance.
 
The Sales Funnel is an under used and little-understood tool for explosive business growth. Master it and you will be able to drive explosive growth in most businesses.
 
I’d love to help you design great sales funnel for your business. Get in touch with me here if this is something you are interested in.

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