Video Transcript: Social Media Marketing Management Part 3

So welcome back to our third and our final lecture about social media  management. And at the conclusion of the previous lecture, we were talking  about some of the details of social related to social selling. And as we begin this  third and final lecture, we're going to just touch on social selling goals? What are the goals of selling on social media? The big thing here is initial customer  acquisition. And one of the things we just talked about right at the very end of  that last lecture was lead magnets. And the purpose of lead magnets are to  capture at least an initial piece of information about people who are interested in the topic of that lead magnet. And if you get that email address, then the next  step in that process is, well, you've got other valuable content that you can sell,  typically at a very low cost. And research has shown that a $7 price on, say, an  additional report, a customized report, or whatever, is something that's very  viable. So last time we talked about an example of using a lead magnet that  could provide information about house sales within a specific region. And  somebody who's going to sell a house might want to pull that information down  and kind of get an idea of what their market looks like in their immediate area.  So the next step, maybe three, four days later is you send them an email says,  you know, for $7 I'll send you a report that's customized just for your home. And  that is kind of like the next up up in offering something of value. Cross sell,  upsell, an example of upsell, of cross selling, would be okay, you just sold your  home. Now you're going to need a moving truck to come and collect all your  stuff. You're going to need all these different services if you are related to buying buying a new home, for example, perhaps you're going to need to hire  somebody to come in and do an appraisal for you, or you're going to need  someone to come in and do a home inspection. Those are things related to  upsells, somewhat related to upsells, cross selling. So if you're a realtor, there's  a number of different things that you can do. Just besides selling a home,  there's things you can do to you know, sell appraisals. You can sell moving  services, all the financing, mortgages, all that stuff, increasing buyer frequency.  This is actually a very overlooked component of generating sales revenue, and  that is, you have to you spend a lot less time and a lot less energy selling more  to the people who are already doing business with you. It's very expensive to  advertise. It's expensive to have someone answering all the questions and all  the hand holding you need to do with people who have not yet done business  with you, if they've already done business with it, they know you're good people.  They trust you. You've got credibility. And for them to come back and place a  second order or a 10th order or an additional order is like falling off the table. It's very easy to do. So focus on doing things that increase buyer frequency, some  of the metrics that you need to track your success at social selling, number of  leads that you're getting. You have a pop up, typically on your website that says, hey, sign up here and we'll add you to our newsletter. That kind of a thing. And  you want to pay attention to how many people each day, each week, each 

month, are actually putting their email address into your email list, the number of leads offering the conversion rate for your offers. You know, conversion rates  can be all over the map depending on what you're selling, when you're selling it,  how you're selling it, whatever. But conversion rate from the time that you make  something available on social media to the time they physically place an order,  they send you money. You want to pay attention to that rate that's referred to as  a conversion rate. Buyer, recency, buyer, frequency. How often do they buy?  How long has it been since they bought? And do you need to send them  additional information to prompt a follow up order, some of the lingo, some of the terminology. Value first offer, appropriate offers to make in social media channels would include things like valuable content. And you really want to be careful with this whole valuable content thing. We're not talking about hype. We're not talking about some document that a high school kid may have written has no idea what  he's talking he or she is talking about. This is something that really is. Any  content that you offer through social media has to be justifiably valuable. No  hype, no you know, get rid of that. People are very cynical about some of the  stuff that they'll get off the internet like that. So you want to develop a reputation  right off the bat for making your stuff valuable content. Opt in offers and deep  discount offers. Feedback loops. Marketing is generally regarded as being one  of the Black Arts. It's like people who are in marketing typically kind of get the  sideways glances from people. You know, they're kind of like one step up from  being used car sales people sometimes. But and part of the reason is people  who are not in marketing don't understand that there are a lot of things that you  do to measure performance and complaints, good reviews, all this stuff is all part of these feedback loops that you're constantly looking for and using to measure  your success. How well are you doing? And you want to pay a lot of attention to  feedback loops and get that whole thing set up. Social media bouncing. It's the  process by which a social media follower in one channel like Facebook or  Instagram or Twitter is exposed to your brand on other channels, such as  Twitter, podcasts or YouTube channels. And this is it really helps to kind of  reinforce who you are and what you're doing if they are seen, constantly seeing  you and your message, no matter where they're going. Topic map, editorial  calendar, that kind of things. It's all designed to increase engagement with your  social media connections. A topic map outlines the various subject matter that's  on brand or on topic to discuss on social media, media channels, and we do this using an editorial calendar. In January, February, March, we're going to really  kind of focus on this specific topic. And then April through June, we'll talk about  something more relevant, like, say, springtime flowers, for example, H&R Block,  which is a tax preparation company, will often post content about home  ownership, long tail media outreach, the process around earning mentions from  higher from a higher volume of small media players, and we're talking about  people who might have a blog or they might be publishing a podcast, rather than

a smaller number of the larger players, Like some of your national television  networks or even regional networks. For example, some of the metrics that we'll  use for social media selling is the Applause rate, and we're talking here about  the reviews that you might be collecting on Google or on Yelp or on Facebook,  traffic by channel. Again, this is actually a screenshot right out of Google  Analytics, and you can tell very quickly are you getting most of your leads off of  Facebook, or is Pinterest selling or sending you a lot of leads as well? And you  can very quickly see which channels, the people on which channels that are  resonating with the message that you're putting out, and you can very quickly  tailor your strategy to that conversion from social media. How many people who  are visiting your website from that have come from Facebook, are actually  placing orders with you. So that's that's another very important statistic. And  again, this is all information that Google Analytics tracks on a real time basis.