6 Ways to Generate Revenue through Social Media

revenue opportunities through social media

Most brands have now realized the power of a strong social media presence. Companies are now utilizing innovative and creative strategies to connect with their customers via the social sites while increasing their revenue.

Digital Signage in Retail

According to research, most consumers’ purchase decisions are influenced by the opinion of their friends or family. In this age of sharing information, most people will seek advice from their peers before making a particular purchase. In addition, consumers will first look for online reviews from other users about particular brands before committing to purchase. Brands can now leverage the power of social media to attract more sales at the point of sale. By installing in-store digital signage that displays positive reviews by online users and real-time reviews, brands can definitely attract more customers and drastically increase conversions.

Include Social Media Content to Website

As a business, you definitely want your brand to connect with your customers as well as stand out from the rest. Instead of only displaying your brand’s products and service, you should also include an interactive social media page on your website.

Studies reveal that potential customers are likely to be persuaded by other customers’ testimonies as opposed to the brand’s marketing strategies. An engaging social media page will attract more consumers to your brand as well as increase consumer engagement.

Use social media content for paid Ads

Many brands compete to get the attention of consumers by placing their ads on prominent sites. According to research, most brand advertisements reach fewer people because of increased competition. For this reason, brands should ensure that their ads are designed to capture and retain the customers. A good example would be to utilize user-generated content that can easily resonate with potential consumers. For instance, a brand can use user-generated images from their consumer to market and advertise their products. Consumers are more likely to relate to simple, realistic images better than picture perfect stock images.

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Use Employee Generated Content

Employees are an essential part of your business. Therefore, you should strive to include your employees in the growth and development efforts of your brand. For instance, you can ask your employees to share different aspects of their work on social media to encourage and create teamwork. Such engagement will inspire employee productivity as well as lead to better service for the customers.

Use Social Media Content as Brand Assets

Your brand can save a lot of money by utilizing user-generated content as brand assets. As a brand, you can learn more about your customers by tapping into the content they search for online, their reviews and comments. Such information can give you more insight into your customers’ preference and in turn, help you design better service delivery strategies.

Use Social Media Aggregators for Fuel Fundraising Campaigns

Social media is an excellent platform for raising awareness about important initiatives and fundraising campaigns. A brand can use the social sites to raise awareness about important social issues that will attract influencers and as well as raise funds. You can engage the public by offering attractive incentives to the participants.

The best way a brand can leverage its ROI from social media is to create an authentic relationship with its customers.

About the Author

Tom Koh

Tom is the CEO and Principal Consultant of MediaOne, a leading digital marketing agency. He has consulted for MNCs like Canon, Maybank, Capitaland, SingTel, ST Engineering, WWF, Cambridge University, as well as Government organisations like Enterprise Singapore, Ministry of Law, National Galleries, NTUC, e2i, SingHealth. His articles are published and referenced in CNA, Straits Times, MoneyFM, Financial Times, Yahoo! Finance, Hubspot, Zendesk, CIO Advisor.


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