I bet you haven’t thought about social media marketing this way before. You probably didn’t realise all the content and engagement on your pages could actually be worth some serious cash!
Does this change your viewpoint on social media? If you already love social media, does this news make it even sweeter?
But how is it worth money? Let me show you.
Through Social Media Marketing, you can build brand awareness for your products or services before people even enter your store or office. You then collect data. This data helps you build warm audiences and determine which clients are most interested in your brand. Finally, you can drive those interested clients to the point of conversion.
How to Create Monetary Value from Your Social Media Assets
Platforms like Facebook, Instagram, and LinkedIn are all part of the social media marketing channel mix. This channel allows you to attract people interested in your services or products. You collect public engagement from those who find your information relevant, valuable, or inspirational.
When people like or follow you, you can repeatedly show them more material in the future. They become subscribers to your social pages. We can argue this holds value, as it often leads to passive sales for a business.
Databases: The Most Valuable Asset
There is another side of social media that many people ignore: database collection. This is what interests me the most about the platforms.
Databases are, by far, the most valuable asset of any business. If you lack a database (no client lists, no emails, no inquiry database), you unfortunately have no underlying value. Companies like Uber and Netflix ran at a loss for years just to collect databases and build assets for their businesses.
Social media—especially Facebook, Instagram, and LinkedIn—allows us to build databases through Pixels, custom audiences, and connections. If you build these at scale, you can store and cultivate them over time to create a net return from those interacting with the brand.
Real-World Asset Verification
I recently spoke with one of our clients. He built an 80,000-person backend audience. An auditing house recently verified that this database holds a monetary value attached to the sale of his business. This data comes from people who interacted with the brand through social media marketing activities. This is real worth!
On top of this, the overall look and presence of your social media pages creates brand value. This brand value also has a net worth attached.
The Great Advantage of Social Media
The great thing about social media marketing is that it has an underlying asset built directly into the channel.
I have repeatedly seen that a social media campaign continues to yield sales and inquiries even after it is paused. When you stop a Google Adwords campaign, it stops immediately. There is no reciprocal effect. However, we continue to see the social platform deliver results, even when the owner is no longer actively posting.
This changes things completely. Now you are not throwing your money down the drain for no result. Instead, you are actually building a long-term business asset through social media marketing—provided you execute the strategy properly!
How We Can Help You with Your Social Media Marketing
If you’ve read to this point, you are likely very interested in growing your business through Social Media and Digital Marketing. If so, you should join our next FREE webinar to learn more.
Our Growth Director, George Hawwa, presents a 30-minute webinar each month to cover a new topic in the social media space. You will have the opportunity to learn, ask questions live, and grow your business.
Wondering what our current topic is? Check out the upcoming webinar HERE.
George is in charge of Attention Experts’ overall growth and best practices. He shares some accolades: Entrepreneur Australia Magazine named him in the ‘Top 30 leaders under 30’ in 2007, and he won ‘Outstanding Young Entrepreneur of the Year’ in 2018 at the NSW Business Chamber Regional awards. He also currently lectures at Sydney University and is a sought-after speaker on social media strategy.
Make sure to REGISTER NOW!
If you need help with your social media strategy, you can also call us for a FREE Strategy Session. Our number is 1300 809 935 or message us on Facebook at http://www.facebook.com/attentionexperts. You can also book a meeting with us via our website.