When you read about the value of social media marketing, a lot of the arguments for it focus on the intangible things. You read about things like “expanding your reach,” “connecting with your audience,” and “establishing your presence.”
And those are all super important things – heck, they’re things I talk about right here! But today, I want to talk about how your social media can make you money.
Cash. Moolah. Cha-ching. I’m talkin’ comically oversized piles of gold coins you can dive into headfirst, Scrooge McDuck-style. (Okay, that last one might be a slight exaggeration.)
Because while all that other stuff really is a crazy-big deal, it don’t pay the rent. And that’s what keeps independent entrepreneurs from really investing in their social media. They approach it as a side project, but when push comes to shove and they need to make room in their schedule, social marketing falls by the wayside – and a TON of opportunities go with it.
If you take your social media marketing seriously, and invest your time in a sustainable strategy, you can get a lot more than a few Facebook likes – you can earn serious bank for your business.
And I can prove it, too.
Last summer, in the week between May 29 and June 6, my business made more than $10,000 from Facebook alone. $10,690, actually. Check it out:
Cool, huh? Wanna know how I did it? Well, we’ll get to that later. First, I want to show you the three things I learned from our ten-thousand-dollar week, and why it makes a difference for your social media strategy – especially if you want to turn your social profiles into real money-makers.
1. Don’t get discouraged by the data that doesn’t matter.
You’ve probably heard of something called a “vanity metric,” right? These are statistics that may sound impressive, but don’t necessarily translate into actual profits for your business. It feels great to see a status update score a lot of likes or favorites or whatever, but an update can get hundreds of those and not earn you a cent, while another that doesn’t get any likes at all lands a clickthrough that leads to a $50 sale. See where I’m going here?
Well, these so-called vanity metrics on social media can still matter, and they matter a lot. After all, a status update with 100 likes represents at least 100 people who became or remained engaged with your business, and while that may not pay off today, it can pay off later – so don’t write it off. While all data matters in its own way, though, you shouldn’t let the vanity metrics discourage you, or convince you that social isn’t worth your time.
Just look at that lonely old update, wouldja? Right in the middle of the ten-thousand-dollar week, and nobody gave a hoot. Not one share. Not one comment! Not even one measly little thumbs up. Serious social media OUCH. (Yes, it happens even to me!)
You know what that image doesn’t tell us, though? It doesn’t tell us how many people clicked on the link and ended up on my site. And how many of those people signed for our free weekly marketing newsletter. And how many made a purchase, or came back in a month and made a purchase then.
You get the idea. Vanity metrics are great, and not just for your vanity – they can indicate a lot of positive things for your business. But their absence doesn’t mean that your social media marketing isn’t making an impact, so don’t be discouraged if your updates seem to be flopping – the analytics that matter the most are hiding just out of sight!
2. Sharing is caring!
When you create content for your social media profiles, whether it’s a link to a blog you’ve written or just a quote-of-the-day, you aren’t just creating it just for your followers – you’re creating it for their followers, too
Because gaining followers on social media is kind of a catch-22, right? You want fans who can become your customers, but how do they become your fans without becoming your customers first? It’s one of those chicken-or-the-egg things, and it can be super frustrating when you’re starting out.
That’s what shares are for. When other people share your content, it puts you in front of an exponentially larger audience. Maybe you only have one follower, but if your one follower has 100 thousand followers of their own, and they retweet a link to your blog, that link just went out to 100 thousand people! That might be a bit of a drastic example, of course, but you get the idea – one of your big goals, and one that I focus on a lot in Social Brilliant, should be writing content that will get shared as much as possible.
Check out these two Facebook updates from our ten-thousand-dollar week, and you’ll see what I’m talking about (I highlighted the important parts):
First of all, if you’re not using Facebook Insights to get data like this for your own page, you should be. Now, take a look at the bottom post first. It’s basically one of the best songs of all time – amirite? – and while a few people got down with their bad selves, nobody shared it. That means the only people who saw this post were our followers who happened to see it in their news feeds, along with anyone who was looking right at our page – a grand total of 1,269 users.
Check out the next update we posted, though – the one on top. That video got shared by 15 different users – this means that a whole lot of people who had maybe never even heard my name before saw this update. In fact, more than 10 times the number of people saw this update compared to the other one – and it was posted only a few hours later.
Like I said, Social Brilliant goes into way more detail about actually writing updates that get shares – as you can see from these figures, though, those shares can go a long way toward growing your audience and bringing in bucks.
3. Remember the big picture.
Some weeks, you make $10,000 from just one of your social networks. Other weeks…well, you don’t. I showed you how I did from May 29 through June 6 – now let’s take a look at how much I made from organic Facebook traffic over a different week, about one month later!
Okay, not quite as impressive, right? But here’s what I didn’t do when I saw that figure: freak out. Because man, that’s just how it goes sometimes!
You can have a ridiculously popular Facebook page that doesn’t make you a dime three weeks out of four – but the money it makes in that fourth week can make all the difference.
This is one of the reasons I’m always saying that social media marketing is about long-term, sustainable strategy – because it takes time, and because it’s a matter of playing that long game. You may not see results tomorrow, or next week, or next month, but that doesn’t mean you won’t see them ever – the thing is, you’ll only get to that point if you stick with it through the bad times and the good.
I know that when you’re getting started, it can feel like you’re playing to an empty house all the time – and that makes it seem like your social media marketing just isn’t going to pay off. That’s why giving up can seem so tempting, especially if you’re just winging it and you don’t really have a plan. The only way to get out of that rut you’re in is to come up with a plan, manage your time, and stick to your guns – otherwise, you’ll end up quitting long before you even start to realize your own potential!
How I Earned $10,690 from Facebook in One Week
So now you can really see how social media stats can be deceiving – and how maintaining active profiles can pay off over the short term and the long term. Well, I told you back at the beginning that I would explain how I was able to earn more than $10,000 from Facebook traffic in just one week, and I’m keeping my promise. Wanna know what I did to make it happen?
The same thing I do every other week of the year.
It really is that simple. Because when I was starting, and as my business grew, I developed and maintained a strategic plan that carries my social media marketing week after week. By using a carefully-crafted calendar and a little automation pixie dust, I’m able to consistently follow a pattern that works for me and my business. I don’t make it up as I go along, and that’s been the one thing that makes all of this possible.
And you can do that too. Social media marketing only seems like a struggle when that’s what you allow it to become, and following a plan is the ONLY solution. And I’ve got a plan for you.
I mentioned Social Brilliant earlier, and there’s a reason for that – it’s a strategic guide that has everything you need to get the ball rolling on your social media marketing efforts. You don’t have time to sit around and figure all this stuff out on your own, so I created a course that does all the work for you. I’m not just talking about advice and philosophy – I’m talking about schedules, templates, and other tools that you can use to actually implement the strategies you learn.
To celebrate the Social Brilliant relaunch, I’m offering it right now at a 20% discount – that’s up to $100 off – but that price is only gonna last until Friday, April 11. So if you’ve felt frustrated by your social media marketing efforts before, there’s no better time than now to give it the honest effort it deserves. After all – you never know what kind of money you could be missing out on if you don’t!