The Top 3 Social Media Mistakes That Are Killing Your Bottom Line

The Top 3 Social Media Mistakes That Are Killing Your Bottom Line

If you know me, you know I’m constantly harping on about how to “stop wasting time in social media and start making money”, and I mean it. If you’re a business, looking to use social media to increase traffic to your website, brand awareness, and your bottom line, then it’s time to start getting serious about how to use it. There are some serious mistakes I see happening, and today, I want to break them down for you so that you can break free.

The Top 3 Mistakes You’re Making

I encounter people from all walks of life, but there are three common mistakes I see businesses make again and again with their social media and digital marketing. Although they may seem common sense, many don’t step far enough away from their business to see the mistakes they’re making. Take a close look at your business and determine if you are making one of these three mistakes:

1. You Don’t Have a Goal 

Too often do I encounter brands that don’t have a clear direction on where they want to go. I think, for the most part, the reason being is that they just don’t know what CAN be done in social media, simply because they don’t have the know-how. But here’s the beautiful thing: if you have a clear understanding of where you want to take your business overall, we can translate that into digital form. We can essentially reverse engineer your online marketing strategy.

Some common goals for businesses online include:

Increase conversions onsite from social media 

How you’ll get there: developing trust by delivering consistent and valuable content to your target demographic.

Increase quality followership and engagement online

How you’ll get there: targeting the ideal customer avatar, interested in purchasing your products or services.

Build a quality email list for ongoing communication and promotion

How you’ll get there: driving traffic back to your website from social media through organized campaigns. But beware the “freebie folks”.

You may want to consider setting SMART objectives. SMART objectives are an great way to achieve initial and long-term goals for your brand. This strategy goes beyond basic goal setting and helps to set more targeted objectives for strategy driven campaigns. Each social media goal you establish must be:

Specific
Measurable
Attainable
Realistic
Time-bound

Don’t be vague about your goals. If you don’t understand your goals, then don’t expect anyone, including your team, to fulfill them. [click to tweet]

2. You Don’t Have Anything Valuable to Offer

Here’s the scenario: you put tons of time, money and resources into building your social media community. You have a great following and they’re definitely loving all of those quote posts that you’re creating. But when they go to your website and…nada. No products, programs, or even details on how to obtain your services. But you have your newsletter! Oh, but you haven’t sent that out since 1998.

Now granted, many businesses offer big ticket items on their website, but the jump from zero to 100 can sometimes be too much for new prospects. Consider offering something of lower cost or even free to entice the person to stick with you, nurturing them until you can ask for that big sale. This is what we call “warming the lead” with a LGM (lead generation magnet). Some examples of LGM’s may include:

  • An ebook or whitepaper
  • Video or audio series
  • Checklists or worksheets
  • Coupons or discount codes
  • Free samples

Offer your lower-cost or free items on social media to push traffic to your website for lead capture. You can even use this traffic for retargeting on an ad network like Facebook.

3. You’re Promoting Other People’s Stuff Too Much (And Not Your Own)

I’m all about sharing the love in social media. I love to share the content of others because it helps to grow my community and trust with those around me.  In fact, I encourage others to share more content of others than their own. Once you get into a social media routine this becomes easy to balance out; however, when you’re ONLY sharing the content of others, it’s time to take a close look at your strategy. If you’re not creating your own content or pushing traffic to your website, then what you have is a hobby, not a business. [click to tweet] 

If I’m sharing the links of others, I love to use Sniply, a tool that allows me to add a call-to-action on all curated links. Otherwise, I spend my time linking to my blog, products, and cross-pollinating my networks. If you are sharing the links of others, consider how your brand is aligned and the partnerships that you want to create.

One final note

Be sure to engage with intent on social media. Although you’re looking to start conversations, you must always keep your business in mind. Don’t waste time on frivolous efforts that will deter you from your end goal. It’s easy to waste time in social media, but as long as you have a strategy in mind, you will succeed.

  • Amazing post Afton! I’ve just started taking my goals seriously and it’s been incredible to see not only the results but also how much my confidence has grown.
    Is there a split you recommend on sharing your own content versus other people’s?

    • Hey @sarahbeeson:disqus! Absolutely, I often refer to the Pareto Principle, whereas 80% of your content would be curated and 20% would be created content. This number may change as your business grows and you have more content and digital assets to share, but it’s a great rule of thumb.

      Can’t wait to connect with you again!

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